Technology Stocks Gain While Blue Chips Slip

On the upside 

In an article last week, The Associated Press under reported the amount of cash and cash equivalents that Palm (Nasdaq: PALM) holds by approximately $100 million.

Nektar Therapeutics (Nasdaq: NKTR) licensed two pain medications to AstraZeneca for approximately $1.12 billion.

US Airways (NYSE: LCC) will install seats that lie flat in its business class.

On the downside

Questor Pharmaceuticals (Nasdaq: QCOR) warned that sales of its infantile spasm treatment Acthar will be lower in the third quarter.

Old National Bancorp (NYSE: ONB) will raise approximately $150 million through the offering of common shares.

First Busey (NYSE: BUSE) warned that it may breach two of its financial covenants and blamed higher loan loss provisions for a third quarter loss.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by a margin of more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 615.