On the upside
Cirrus Logic (Nasdaq: CRUS) expects third quarter revenue to top estimates as demand improved.
BMO Capital Markets upgraded QLogic (Nasdaq: QLGC).
Hartford Financial Services (NYSE: HIG) raised its fourth quarter earnings guidance well above expectations due to higher account values and lower expenses.
On the downside
Electronic Arts (Nasdaq: ERTS) blamed disappointing holiday sales for lowering its fiscal 2010 revenue and earnings guidance.
While Alcoa (NYSE: AA) narrowed fourth quarter losses, the results fell short of analyst expectations.
KKR Financial (NYSE: KFN) priced its offering of senior convertible notes.
In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 640.
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