Dubai World's Debt Not Guaranteed By Dubai Government
On the upside
Minerva Biotechnologies granted Clarient (Nasdaq: CLRT) exclusive rights to develop and commercialize a cancer biomarker identifier.
Lazard Capital Markets analyst Todd Slater upgraded American Eagle Outfitter (NYSE: AEO) to Buy citing a recent increase in sales.
Shares of U. S. Steel (NYSE: X) rose after Goldman Sachs analyst Sal Tharani upgraded the steel sector saying that prices and market conditions are improving.
On the downside
Eight Central European countries will upgrade their mobile networks with LM Ericsson's (Nasdaq: ERIC) innovative microwave solution to increase capacity while reducing costs.
Oppenheimer analyst Ittai Kidron said that shipments of Motorola's (NYSE: MOT) Cliq are below estimates due to battery problems.
American International Group (NYSE: AIG) settled a legal dispute with former chief executive Maurice R. Greenberg by agreeing to pay up to $150 million in legal fees.
In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by more than 8 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 573.
