On the upside

Home Depot (NYSE: HD) posted 2nd quarter profits that beat expectations.  Same-store sales fell, but cost-cutting boosted the results.

American Axle and Manufacturing (NYSE: AXL) received an extension of a waiver for its revolving credit facility allowing the company to receive $110 million from GM.

Shares of Huron Consulting Group (Nasdaq: HURN) rebounded after the business services provider reported healthy gains in revenues and earnings.

On the downside

CIT Group (NYSE: CIT) posted a sizable 2nd quarter loss of $1.68 billion. The beleaguered commercial lender continued to work on restructuring its debt in order to avoid bankruptcy.

Awaiting an FDA review, Geron (Nasdaq: GERN) delayed a trial of an embryonic stem cell treatment for spinal cord injury.

Discount retail operator TJX (NYSE: TJX) reported higher revenues and earnings as consumers sought bargains.   The results narrowly beat estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 551.