On the upside
GenVec (Nasdaq: GNVC) will license its hearing loss treatments to Novartis for $5 million upfront along with a $2 million purchase of stock.
Credit Suisse analyst Paul Silverstein upgraded Ciena (Nasdaq: CIEN) and lifted his price target on the telecommunications equipment maker saying that sales will increase more than expected as the company upgrades its networks.
On the downside
Broadpoint AmTech Research downgraded JA Solar (Nasdaq: JASO).
Borders (NYSE: BGP) said that sales tumbled during the holiday shopping season.
Jaguar Mining (NYSE: JAG) warned that gold production during the fourth quarter was lower than expected.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 638.
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