On the upsideCVS Caremark (NYSE: CVS) posted lower profits due to a slowdown in discretionary spending. However, overall revenues was boosted by the acquisition of Longs Drugs stores.
Kraft Foods (NYSE: KFT) reported higher profits and lower revenues due to a strong dollar weighing down international sales results.
Pegasystems (Nasdaq: PEGA) posted record revenues and profits that beat estimates. The company makes business process management software solutions.
On the downside
Hologic (Nasdaq: HOLX) announced a delay to request FDA approval which in turn delayed the launch of its mammography system.
PetroQuest Energy (NYSE: PQ) posted a sizable loss due to a decline in oil prices and may need to raise more money which would be dilutive to existing shareholders.
In the broad market, declining issues outpaced advancers by a margin of 4 to 3 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap dropped 4 points to 502.
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