Shares of Nortel Networks(NT Quote) gained $1.10, or 13.6%, to $9.21 after The Wall Street Journal reported that the company is focusing its research and development effort on a new broadband technology called LTE (Long-term evolution) and away from WiMax.
PDL Biopharma (PDLI Quote) was one of the very few stocks on the biotech indices that registered a gain. The stock added 48 cents, or 4.7%, to $10.74.
Central Garden & Pet (CENT Quote), a Walnut Creek, Calif.-based marketer and producer of lawn and garden products as well as pet supplies, tumbled 36% to $4.44. The company said late Tuesday that high grain costs may cause fiscal 2008 profits to fall short of prior-year results. Management had said on a May 7 conference call that it expected modest year-over year improvements in financial results. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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