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• Department-store chain J.C. Penney Co. Inc. (NYSE:JCP) confirmed that it would buy a 16.6% stake in Martha Stewart Living Omnimedia Inc. (NYSE:MSO). Media and merchandising company Martha Stewart’s share prices increased 33.33% to close at $4.16 a share
• At a media conference, digital news advertisement company McClatchy Co. (NYSE:MNI) said the decline in its advertising sales had eased. Following this development, shares of the company sky rocketed 61.86%
• Defense contractor SAIC, Inc.’s (NYSE:SAI) share prices advanced 6.58% after the company's third quarter sales came in above market expectations
• Share prices of women’s retailer Talbots, Inc. (NYSE:TLB) surged 69.87% to close at $2.65 after the company decided to review an unsolicited acquisition offer from Sycamore Partners
• According to the Wall Street Journal, ING Groep NV’s (NYSE:ING) fourth-quarter earnings will take a hit from its U.S.-annuities business as the Dutch financial services company prepares to spin off its insurance-related business
• Gold producing company Jaguar Mining Inc.’s (NYSE:JAG) shares declined 9.19% after the company said its President and the CEO Daniel Titcomb has resigned
• First Solar Inc. (NASDAQ:FSLR) said it had entered into an agreement to sell a solar energy farm to MidAmerican Energy Holdings Co., in California, which is a part of Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.B)
• Late on Tuesday, men's clothing retailer Men’s Wearhouse, Inc. (NYSE:MW) increased its earnings outlook for 2011