On the upside
NetApp (Nasdaq: NTAP) will acquire Data Domain (Nasdaq: DDUP) in a cash and stock deal valued at approximately $1.5 billion.
Brocade Communications Systems (Nasdaq: BRCD) swung to a second quarter loss but revenue surged to beat expectations.
Stein Mart (Nasdaq: SMRT) reported first quarter earnings that more than doubled as the department store operator slashed expenses.
On the downside
Although Suntech Power Holdings (NYSE: STP) reported first quarter earnings that topped estimates, revenue plunged to fall short of expectations. The solar module maker also announced plans to offer 20 million American depositary shares.
New York & Co. (NYSE: NWY) swung to a first quarter loss as revenue fell and warned of losses for the second quarter.
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 479.
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