Honeywell reports better than expected earnings and hikes its outlook. The results were driven by higher sales of its turbochargers that help make cars more efficient. New fuel efficiency regulations have increased demand for those parts. The industrial conglomerate also raised the lower end of the 2014 profit forecast range. Shares were up more than 1.5 percent to $96.82.
Shares of auto parts maker, Johnson Controls went the other way as its earnings fell in its third quarter. Restructuring and other charges offset a small increase in revenue. Even though results were generally in line, investors were disappointed. Shares fell more than one percent to $49.16.
Shares of VF Corporation fell after the apparel retailer reported a drop in gross margins. The company, which owns bands like the North Face and Timberland also gave investors a disappointing full-year profit forecast. The stock dropped one percent $60.95.
Bank of New York Mellon
BNY Mellon saw its second-quarter profit fall, dragged down by hefty charges and a decline in fees, but it still managed to post results that topped estimates. The company also announced that it will not be selling its corporate trust unit, which has been under review for a possible sale. Shares rose one percent to $38.43.
Trupanion & TerraForm Power
Two IPOs to tell you about. Shares of Terraform Power, which is owned by SunEdison surged in the solar plant owners market debut. Also Trupanion started trading today. Terraform closed 32 percent higher to $33.09. Trupanion shares up 14 percent to $11.40.
Shares of Amazon were higher after the retailer announced its rolling out a new subscription service for Kindle devices. The new service will give users unlimited access to the company’s library of e-books and audio books for $9.99 a month. Shares were nearly two percent higher to $358.66.