On the upside
Roth Capital initiated coverage of GenVec (Nasdaq: GNVC) with a Buy rating and set a price target of $4 on the stock.
Third quarter earnings surged for Bed Bath & Beyond (Nasdaq: BBBY) to surpass expectations and the company forecast fourth quarter earnings above estimates.
Lennar (NYSE: LEN) reported its first quarterly profit in nearly three years due to a tax benefit.
On the downside
Tessera Technologies (Nasdaq: TSRA) blamed lower than expected royalties for lowering its fourth quarter outlook.
GameStop (NYSE: GME) cut its earnings guidance for the fourth quarter as December same store sales tumbled due to continued weakness in the economy and product shortages.
Abercrombie & Fitch (NYSE: ANF) reported a sharp 19% drop in December same store sales.
In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE while advancers edged out decliners by nearly 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 639.
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