On the upside
Stifel Nicolaus lifted its price target on Keryx Biopharmaceuticals (Nasdaq: KERX) from $4 to $13 per share.
Elliott Management acquired a 4% stake in Hess (NYSE: HES) and recommended that the energy company split into three separate businesses.
On the downside
EMC (NYSE: EMC) reported higher fourth quarter earnings and revenue that topped analyst estimates but the company forecast 2013 results below expectations. Anacor Pharmaceuticals (Nasdaq: ANAC) reported positive trial results for its toenail fungus treatment tavaborole but current approved medications are just as effective or more effective than tavaborole.
VMware (NYSE: VMW) reported higher fourth quarter earnings and revenue but the company forecast disappointing 2013 results prompting downgrades.
In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by more than 7 to 5 on Nasdaq. The broader S&P 500 index held steady at 1500.