On the upsideInspire Pharmaceuticals (Nasdaq: ISPH) reported upbeat results for a Phase 3 clinical trial of its cystic fibrosis treatment denufosol tetrasodium.
Western Digital (NYSE: WDC) impressed with first quarter earnings that tripled over last year to exceed analyst expectations by a wide margin prompting an upgrade.
Although third quarter earnings dropped for Celestica (NYSE: CLS), the results surpassed estimates prompting an upgrade.
On the downside
Ariba (Nasdaq: ARBA) widened fourth quarter losses despite higher revenue.
Despite reporting sharply higher third quarter earnings that beat expectations, Timken (NYSE: TKR) slashed its fourth quarter outlook saying that scrap metal prices as very volatile.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 19 points to 471.