Apple —Investor Carl Icahn, whose investment in Apple helped lift shares Tuesday, said he has spoken with CEO Tim Cook about his ideas for increased stock buybacks, and that it was a "good conversation" and that they plan to speak again.
Steinway Musical Instruments —Steinway will be acquired by Paulson & Co. in a deal worth $40 per share. Kohlberg and Co., which had a prior deal with Steinway, said it would not match the Paulson offer, and Steinway will pay Kohlberg a termination fee of about $6.7 million.
Delta Air Lines, U.S. Airways, AMR, United Continental —JPMorgan Chase has cut its rating on those airline stocks to "neutral", citing increased risk as the government tries to block the proposed American/U.S. Airways merger.
Baidu — The China-based search provider agreed to buy the app store of Hong Kong's Netdragon Websoft for $1.85 billion in cash. This would be the biggest-ever deal in the China IT sector.
SeaWorld Entertainment —The theme park operator reported second quarter profit of 41 cents per share, excluding certain items, ten cents below estimates. Revenue also missed forecasts, as does SeaWorld's full year revenue projections. SeaWorld saw a drop in attendance amid a shift in pricing and poor weather conditions.
JDS Uniphase — The company reported fiscal fourth quarter profit of 13 cents per share, excluding certain items, matching estimates. Both fourth quarter revenue and the testing equipment maker's current quarter revenue forecast were below Street estimates, amid weaker demand from telecom customers.
Cree — Cree matched estimates with fiscal fourth quarter profits of 38 cents per share, excluding certain items, but its current quarter earnings forecast falls short of analyst projections. Cree is a maker of lighting equipment.
Brocade Communications — Brocade beat estimates by 7 cents with third quarter profit of 19 cents per share, excluding certain items, with revenue above estimates. The maker of network equipment said its results were helped by increasing demand for its storage products.
Zynga —Zynga is seeing three top executives depart: chief operating officer David Ko, chief technology officer Cadir Lee, and chief people officer Colleen McReary. The move comes just a short time after former Microsoft executive Don Mattrick took over as CEO of the online gaming company.
Facebook —The social networking giant has released regional data for the first time, in hopes of communicating more useful information to advertisers. The new stats show that one out of three people in the U.S. visit the social network every day.
David Tepper's Appaloosa Management has increased its stakes in Citigroup, Bank of America, and Goodyear Tire, while cutting stakes in AIG, Microsoft and Weatherford International. It's taken new stakes in Carnival, Hertz Global, and Chicago Bridge & Iron.
Hovanian Enterprises — UBS upgraded the home builder's stock to "buy" from "neutral".
(Read More: See CNBC's Market Insider Blog)
—By CNBC's Peter Schacknow
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