Fifth Month Of Consumer Spending Gains, Markets Rise
On the upside
Goldman Sachs cited superior growth for placing Southwestern Energy (NYSE: SWN) on the company's Americas conviction buy list.
Oxygen Biotherapeutics (Nasdaq: OXBT) introduced its new skin care product line Dermacyte Oxygen.
Private equity firm Madison Dearborn Partners will take BWAY Holding (NYSE: BWY) private in an all cash deal valued at approximately $448 million.
On the downside
Orckit Communications (Nasdaq: ORCT) will sell approximately $10.6 million worth of common shares and warrants to purchase common shares.
A disappointing opening weekend for DreamWorks Animation's (Nasdaq: DWA) "How To Train Your Dragon" weighed down shares of the studio.
FBR Capital Markets analyst Paul J. Miller downgraded Synovus Financial (NYSE: SNV) saying that he doubts that the regional bank will return to profitability this year.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 680.
