Mixed Close As Banks Begin Repaying Loans
On the upside
The European Union approved STAAR Surgical's (Nasdaq: STAA) KS-X Preloaded Hydrophobic Acrylic Injector device to be used in cataract surgeries.
Although first quarter earnings for Men's Wearhouse (NYSE: MW) fell, the results topped estimates as the clothing retailer cut expenses.
KeyBanc Capital Markets analyst Brett D. Hoselton reiterated his Buy rating for Tenneco (NYSE: TEN) saying that the auto parts supplier is well positioned to weather the auto industry downturn.
On the downside
CBL & Associates Properties (NYSE: CBL) will sell 50 million common shares through a public offering and expects to extend its credit line of $560 million.
El Paso Pipeline Partners (NYSE: EPB) will raise approximately $206.8 million through a public offering of 11 million common shares.
Investors locked in their profits for Angiotech (Nasdaq: ANPI), whose shares surged yesterday after the FDA approved themedical products company's Option Inferior Vena Cava filter to prevent pulmonary embolism.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by a margin of more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 527.
