Midday Leaders & Laggards: S&P 500

JDS said earnings slipped slightly from a year ago, but beat Wall Street's average estimate by a wide margin. Shares rose $2.87, or 28.3 percent, to $13.03.

The S&P 500 index advanced 7.72 points to 1,344.36.

Polo Ralph Lauren Corp. rose $6.85, or 11.9 percent, to $64.31, after the apparel maker raised its fiscal 2008 profit outlook.

Thermo Fisher Scientific Inc. advanced $3.97, or 7.9 percent, to $54.21. Fourth-quarter profit soared on gains from an acquisition, the maker of scientific instruments and laboratory supplies said.

On the losing side, CME Group Inc. lost $72.80, or 12.3 percent, to $516. The U.S. Department of Justice said futures exchanges shouldn't be permitted to own or control clearing functions, which may have implications for CME Group's proposed acquisition of Nymex Holdings Inc. Separately, CME said profit nearly doubled in the fourth quarter.

Harman International Industries Inc. declined $5.06, or 11.1 percent, to $40.67, following a 47 percent decline in the company's quarterly profit.

InterContinental Exchange Inc. declined $6.48, or 5.4 percent, to $116.95, and set a 52-week low of $117.89.