Southwest Airlines is cleared for international takeoff. The carrier is launching flights to destinations outside the U.S. for the first time ever. New destinations will include Jamaica, the Bahamas and Aruba, but Southwest will expand its service to other locations over the next few months. The airline is taking over routes flown by AirTran Airways, which it bought it 2011 and plans to eliminate by the end of the year. The stock rose more than three percent to $27.73.
T-Mobile has been accused by federal regulators for adding bogus charges on customers’ accounts without their consent. The federal trade commission says the wireless carrier tacked fees on to customer bills totally hundreds of millions of dollars, labeling them as third-party charges. T-Mobile’s CEO says the complaint is unfounded. Shares fell a fraction to $33.41.
Shares of Regeneron popped on news the French drug maker Sanofi will increase its stake in the company to 22.5 percent. The move is part of an agreement between the two companies allowing Sanofi to buy up to 30 percent. Regeneron rose more than seven percent to $303.39, making it the best-performing stock in S&P 500 index today.
The second-best performer in the S&P 500 today was Netflix. Its shares were higher on an analyst upgrade. Its shares were higher on an analyst upgrade. Goldman Sachs rates the stock a “buy” up from “neutral.” The firm cited the video streaming company’s international expansion and the opportunity to increase profit margins as its customer base grows larger. The stock jumped more than seven percent tot $473.10.
Hormel Foods is buying Cytosport the maker of Muscle Milk for $450 million. The move is an effort by the Spam maker to expand outside of its meat products diversifying its offerings into protein drinks. Shares of Hormel fell a fraction to $49.19.
Aerospace and defense products makers, Lockheed Martin is freezing its pension plan and transitioning its employees to a defined contribution plan. The new plan will go into effect in 2016. to help the company manage the long-term costs of its retirement programs. Shares were down a fraction to $160.64.
Twitter has a new chief financial officer. The social media company has tapped Anthony Noto, a former Goldman Sachs executive, who was instrumental in helping Goldman with the lead underwriter role on Twitter’s IPO last fall. Shares were up more than 2.5 percent to $42.05.