Archer Daniels Midland
Archer Daniels Midland announced its biggest acquisition ever. The grain giant is paying $3 billion for Wild Flavors, a Swiss food ingredient maker. The move is an effort by ADM to protect itself from volatile crop prices and also benefit from the new consumer appetite for natural foods. The deal still needs the okay from regulators and is expected to close by the end of the year. Shares of ADM rose 1.5 percent to $46.50.
Expedia & Wotif.com
Expedia is buying an Australian online travel company called Wotif.com. It’s a nearly $700 million for one of the largest online travel agencies in Australia and will help Expedia expand its presence in the Asia-Pacific region. Despite that, Expedia shares lost more than 1.5 percent to $80.85.
Shares of BioDelivery Science got a lift after good news about one of its treatments. A new drug to treat severe pain performed well in a late-stage trial, taking it one step closer to market approval. That resulted in another $10 million milestone payment from Endo International, which has a licensing agreement with the company for developing the drug. Shares popped almost nine percent to $13.06.
Apple has nabbed the vice president of sales for luxury watch brand Tag Heuer. This comes as many are expecting the tech company to launch an iWatch or a wearable technology device this fall. Shares were higher by two percent to $95.97.
A train derailment in Montana has damaged a shipment of Boeing’s aircraft components. Boeing’s production depends on a complex supply chain that delivers many parts just in time for assembly. It hasn’t been determined yet if the incident will impact its plane production. Despite that shares of Boeing were up slightly to $129.09.
Delta, American Airlines & United Airlines
Shares of major U.S. airlines like United Continental, American Airlines and Delta were down today, continuing a sell-off from last week. The Transportation Security Administration announced new security measures that would impact international flights into the United States. The new procedures include the requirement that some passengers power on their electronic devices before boarding to prove they aren’t explosive. Shares of Delta were off almost 4.5 percent to $36.90, American Airlines dropped more than 3.5 percent to $40.10 and United was down three percent to $38.62.