News Summary (CYPB, ETFC, SCHW, DAL, ALK, LCC, CAL, GOL)

Shares of Cypress Bioscience CYPB jumped after Ramius Value and Opportunity Advisors lifted its offer to purchase the company to $4.25 per share, from its July 16 bid of $4 per share. Cypress had rejected the previous offer. Shares of CYPB surged about 10% following the news. Financial stocks directed the wider market lower. Shares of E-Trade Financial Corp ETFC moved down about 1.61% after the company reported a 36% y/y decline in its August daily average revenue trades. Shares of Charles Schwab Corp SCHW also fell about 1.34% after the company posted a 16% decline in its client daily average trades in August. The Financial Select Sector SPDR Fund (XLF) dropped about 0.95%. Airline stocks showed mixed results in the starting session. Shares of Delta Air Lines DAL rose about 1.97%, Alaska Air ALK gained about 0.40% and US Airways LCC moved up about 0.34%. However, the shares of Continental CAL lost about 0.31% and Gol Linhas GOL moved down about 1.26%. The NYSE Arca Airline Index (XAL) fell about 0.02%. Read more from Benzinga's Markets.