The Day's Winners

Engineered Support Systems

(EASI) - Get Report

was climbing 4% to $47.74 after being added to the S&P SmallCap 600 Index. The company, which makes military support equipment and electronics for the armed forces, will replace

Penton Media

(PME) - Get Report


First Data

(FDC) - Get Report

shot up 10% to $35.95 after reporting better-than-expected second-quarter earnings, in part because of a strong performance in its Western Union division. The electronic commerce and payment services company earned 41 cents a share on an operating basis, up from 34 cents a year ago and ahead of the consensus estimate of 40 cents. Revenue rose to $1.88 billion from $1.72 billion last year.



tacked on 3% to $5.86 on news of an agreement with


(MSFT) - Get Report

. The imaging, speech and language software provider said Microsoft selected its full range of productivity applications to use in the Microsoft Office services portal.

Shares of

Steel Dynamics

(STLD) - Get Report

were gaining 3% to $17.89 after the company said Wednesday that its second-quarter earnings rose to $17.7 million, or 37 cents a share, from $2 million, or 4 cents a share, a year ago. Analysts had been expecting 24 cents a share. Sales were up 35% to $214 million. Steel Dynamics said its strong quarter was due in part to capacity closures and tariffs enacted by the government.

The Day's Losers

Software publisher

Adobe Systems

(ADBE) - Get Report

dropped 5% to $25.32 after Deutsche Securities initiated coverage of the stock with an underperform rating. The firm said that long-term growth estimates of 20% on the company are too high and a more realistic rate is around 12%. The firm added that Adobe is a solid company, but the shares are overvalued. Deutsche cut its price target on the stock to $22.

Shares of

ICN Pharmaceuticals


were plunging more than 30% to $13.95 after the company slashed its second-quarter forecast. The company now expects to earn 15 cents to 20 cents a share, far short of the estimate of 44 cents. Revenue is expected to be about $236 million, missing the consensus of $257.7 million. ICN blamed the shortfall on lower product sales in North America and Russia, and additional research and development expenses from a recent acquisition.

Regeneration Technologies

(RTIX) - Get Report

shed 19% to $5.20 after warning that its second-quarter loss per share would be wider than expected. The company, which makes orthopedic surgery implants, expects to lose more than the 20 cents a share it previously predicted. Analysts expect a loss of 15 cents. Regeneration also said its revenue would come in light for the quarter at about $14.4 million, down from an earlier forecast of $16.9 million.



fell 3% to $11.83 on valuation concerns a day after reporting its first quarterly profit in more than a year. Merrill Lynch cut its rating on the stock, saying the company's underlying fundamentals don't support its current valuation, and set a price target of $9 to $10. Goldman Sachs also weighed in on the stock, saying in a research note that "the company's valuation remains rich given the limited organic growth and uncertainty of longer-term growth rates of new initiatives. "