Elsewhere, CardioNet (BEAT) is an active decliner after revising its full year 2009 revenue guidance to a range of $156 to $160 mln, below the analyst mean of $172 mln on Thomson Reuters. Adjusted EPS is seen in the range of $0.30 to $0.35 per share, vs. Street estimates of $0.66 per share.

Myriad Genetics (MYGN) continues its sharp evening slide seen after a revenue warning. The company reports total molecular diagnostic Q4 revenue of about $86 mln, which represents the bulk of the company's revenue. The Street view for total revenue is $92 mln, according to Thomson Reuters.

American Apparel (APP)fell after the government said 1800 of the company's workers are either working illegally or are potentially illegal to work in the United States.

Oil futures reversed earlier gains. Crude inventories rose for the first week in five at a key delivery point and gasoline stockpiles increased for a third week. The data also showed last week's crude inventories fell, but the decline came in smaller than an industry group's report had showed late Tuesday.

August crude futures fell $1.60, or 2.2%, to $69.89 a barrel, after earlier rising as high as $71.85 a barrel. In electronic trading, crude has bounced on either side of even, last at $69.25 a barrel.

-NYSE up 48.9 (0.8%) to 5,954.01.

-DJIA up 57.1 (0.7%) to 8,504.

-S&P 500 up 4 (0.4%) to 923.33.

-Nasdaq up 10.7 (0.6%) to 1,846.

GLOBAL SENTIMENT

Hang Seng down 0.81%

Nikkei down 0.19%

FTSE up 1.97%

UPSIDE MOVERS

(+) C sells trust unit.

(+) OSK inks $1 bln military order.

(+) GIS beats with earnings.

(+) AMAG sees continued reaction to FDA marketing approval for Feraheme.

(+) CRXX to merge with privately held Neuromed.

(+) AZN edges up as Iressa gets EU marketing approval.

(+) BORL gets raised offer to $1.50/share cash.

(+) AIG shareholders approve 1-for-20 reverse stock split.

DOWNSIDE MOVERS

(-) MYGN continues evening slide after revenue warning.

(-) FRPT and NAV decline after losing order to Oshkosh (OSK).

(-) CHKP downgraded to Neutral at JP Morgan.

(-) SKBI announces offering.

(-) ZZ sees continued selling after announcing swing to loss in Tuesday's extended hours.

(-) BEAT guides for FY results below Street view.

(-) GSIG is restating some revenue.

(-) SPPI raises $21 mln through offering.

(-) SQNM declines as SEC initiates inquiry into Down Syndrome test announcement.