On the upside
Second quarter earnings rose for Fossil (Nasdaq: FOSL) to surpass estimates due to strong international sales. The impressive results prompted the watch maker to raise its full year outlook.
JP Morgan upgraded airline stocks saying that retreating oil prices could lead to a return to profitability. Shares of US Airways (NYSE: LCC), United Air lines parent UAL (Nasdaq: UAUA) and American Airlines parent AMR (NYSE: AMR) all rose.
Canaccord Adams initiated coverage of Canadian Solar (Nasdaq: CSIQ) last week with a Buy rating.
On the downside
Altus Pharmaceuticals (Nasdaq: ALTU) reported disappointing preliminary results from a late stage clinical trial of its treatment for cystic fibrosis patients with pancreatic insufficiency, Trizytek, prompting a downgrade.
Comverge (Nasdaq: COMV) blamed higher expenses for widening second quarter losses and lowered its full year revenue outlook.
Although second quarter revenue rose for Constellation Energy (NYSE: CEG), the company swung to a loss as natural gas prices soared.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 745.
