On the upside

Geron (Nasdaq: GERN) and GE Healthcare, a unit of General Electric (NYSE: GE) agreed to conduct joint research to develop embryonic stem cell products.

An analyst upgraded Fedex (NYSE: FDX).

Vical (Nasdaq: VICL) reported positive results for its swine flu vaccine works in mice.

On the downside

Schnitzer Steel Industries (Nasdaq: SCHN) unexpectedly posted a 3rd quarter loss.

American International Group (NYSE: AIG) sold off its credit card operations in Taiwan for an undisclosed amount.

Tobacco maker Alliance One International (NYSE: AOI) priced $100 million in senior subordinated debt.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 511.