Stocks Tumble Following Bernanke Speech
Sunshine Heart (SSH) shares gained 1.5% after the medical device maker was given unconditional approval to start a key trial for its implantable heart device by the U.S. Food and Drug Administration.
Campbell Soup (CPB) posted better-than-expected first-quarter earnings of 88 cents a share, compared with the average analyst estimate of 85 cents a share, as the company generated sales growth both in its U.S. soup and sauces businesses, driven by new product introductions. The stock dipped 2%.
Ketchup maker H.J. Heinz (HNZ) booked better-than-predicted fiscal second-quarter earnings as the company spoke of "dynamic growth" in the emerging markets and a favorable tax rate. Shares declined 2.2%.
Credit Suisse (CS) said Tuesday it was overhauling its investment banking division and merging its private banking and wealth management arms to cut costs and satisfy regulators. The bank's American Depositary Receipts fell 1.4%.
Shares of Groupon(GRPN) jumped 8.5% after hedge fund Tiger Global Management disclosed a stake of 65 million of the online deals company's class A shares.
-- Written by Andrea Tse and Joe Deaux in New York.
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