On the upside
Time Warner (NYSE: TWX) will take a 31% stake in Central European Media Enterprises (Nasdaq: CETV) for $241.5 million.
Shares of Hovnanian Enterprises (NYSE: HOV) rose after the National Association of Realtors reported higher existing home sales last month.
Privately held Stiefel Laboratories retained the services of Blackstone Group (NYSE: BX) to find suitors for the pharmaceutical.
Shares of Lloyds Banking Group (NYSE: LYG) and Barclays (NYSE: BCS) both soared after the U. S. government announced plans to remove up to $1 trillion in toxic assets from troubled banks.
Broadcom (Nasdaq: BRCM) introduced two new low power solutions for its digital signal processing technology.
Citi Investment Research analyst Jim Suva upgraded Corning (NYSE: GLW) saying that consumer demand will increase.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 20 points to 420.
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