On the upside
Shares of Triad Guaranty (Nasdaq: TGIC) rose ahead of its earnings release after market close.
Ambac Financial (NYSE: ABK) stock continued to climb after the bond insurer on Friday announced an $850 million deal to to end its exposure to $1.4 billion in collateralized debt obligations. The company will report second quarter earnings on Wednesday.
Bargain hunters lifted shares of Elan (NYSE: ELN), which plunged last week when the company announced potentially fatal side effects to its multiple sclerosis drug Tysabri.
On the downside
FreightCar America (Nasdaq: RAIL) blamed higher steel and aluminum expenses for swinging to a second quarter loss.
Shares of Walter Industries (NYSE: WLT) plunged on profit taking. Last week, the company reported higher second quarter earnings that topped estimates and announced plans to open a new coal mine.
Engineering and construction services company KBR (NYSE: KBR) reported sharply lower second quarter income due to significant charges.In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks plunged 12 points to 704.
