Wednesday's Winners and Losers: Metro PCS

The wireless service provider jumps on a strong earnings report.
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Shares of

Metro PCS

(PCS)

soared 9.73% after the company posted a strong quarterly report with $53 million in net income or 15 cents a share in the third quarter, compared with $29 million (8 cents a share) a year ago. Revenue rose 41% to $557 million. The company added about 114,000 subscribers for the quarter. Analysts were expecting EPS of 13 cents on revenue of $563.3 million. Metro PCS was up $1.60 to $18.05.

Yahoo!

(YHOO)

continued to trend down with its shares off $1.03, or 3.95%, to $25.07 on Wednesday. The stock has been off nearly 8.5% since Nov. 7 and flat since the beginning of the year.

On the other hand,

Merrill Lynch

(MER)

climbed after the

New York Post

reported that it had successfully tapped

NYSE Euronext

(NYX)

CEO John Thain

to replace Merrill's

recently ousted former Chief Stan O'Neal following the broker's

abominable third-quarter results.

Merrill shares bounced 4.4% to $59.47. NYSE traded in and out of the red but, recently, it ticked up 0.9% to $87.72.

A battered

E*Trade

(ETFC) - Get Report

, meanwhile, continued clawing its way back from Monday's

precipitous drop. An analyst with BMO Capital Markets called bankruptcy at the online broker "highly unlikely," per a

Reuters

report, following the firm's warning regarding the

shrinking value of its asset-backed securities. E*Trade shares were surging 73 cents, or 14.6%, to $5.73.

Nastech Pharmaceutical

(NSTK)

said Tuesday after close that it will spin off its subsidiary MDRNA as an independent company and is transferring its intellectual property and agreements related to RNA interference into MDRNA. Nastech said the move will give it the ability to pursue independent investment to fund MDRNA's operations.

Shares rose 44 cents, or 8.8%, to $5.30. The stock is a component of the Nasdaq biotechnology index, which was up 3.25, or 0.4%, to 855.46.

Elsewhere the Food and Drug Administration strengthened a warning on

GlaxoSmithKline's

(GSK) - Get Report

diabetes drug Avandia, adding that it may be linked to an increase in the risk of heart attacks. The warning adds to an existing black-box warning (the strictest warning the agency issues) that says the drug increases the risk of heart failure. It's expected to also go on Glaxo's Avandamet and Avandaryl, which contain the same active ingredient that is in Avandia.

Shares nudged down 36 cents, or 0.7%, to $50.24.