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• Apollo Group Inc. fell 8.5 percent, the biggest drop in the S&P 500. The for-profit education company reported a profit in the most recent quarter but issued a dim forecast. Apollo expects fewer students to enroll in the coming quarter.

• Ista Pharmaceuticals Inc. leapt 7.8 percent on news that Bausch & Lomb plans to buy the drug maker for roughly $500 million in cash. Ista gets most of its revenue from Bromday, an eye drop for patients recovering from cataract surgery. Bausch & Lomb plans to pay $9.10 per share for Ista, a 72-cent premium over Monday’s closing price. Bausch & Lomb is privately held.