Market Overview

Market Update

Shares of United Microelectronics Corp (NYSE: UMC) rose about 0.6% after the company reported a 14.6% y/y drop in its March sales. UMC's said on its website it posted sales of T$8.19 billion ($277.63 million) in March, down from T$9.58 billion in the year-ago period and versus T$7.52 billion in the previous month.

Shares of Optimer Pharmaceuticals Inc (NASDAQ: OPTR) dropped about 5.6% after the company named Hank McKinnell as its new Chairman.

Shares of Greenbrier Companies Inc (NYSE: GBX) gained about 7.2% after the company reported stronger-than-expected second-quarter results. Greenbrier projects second-half revenue and adjusted EBITDA to be higher than the first half. Greenbrier's quarterly net income climbed to $17.7 million, or $0.57 per share, from $550,000, or $0.02 per share, in the year-ago period. Its revenue climbed 60% to $458.2 million. Analysts were expecting earnings of $0.47 per share on revenue of $444.5 million.

Shares of Staples Inc (NASDAQ: SPLS) fell about 1.5% after the company reported that total pay for the company's Chairman and Chief Executive Ronald Sargent fell 42% y/y to $8.9 million in fiscal 2011, according to a filing with the Securities and Exchange Commission. Sargent received a base salary of around $1.2 million, up 2.5% versus fiscal 2010. Total pay for Staples' Chief Financial Officer John Mahoney declined 36% to $4.1 million, while total pay for Chief Operating Officer Michael Miles Jr. dropped 37% to $3.9 million.

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