Orbitz had a falling out with a major airline. American Airlines said it’s withdrawing its flights from the travel website, saying it was unable to reach an agreement on a long-term contract. U.S. Airways, which is also owned by American will withdraw its fares on September 1st, but American flights were already pulled. Shares tumbled more than 4.5 percent to $8.04.
Movado posted an earnings miss on both the top and bottom lines. Despite the disappointing results, the watch maker does say it expects sales to accelerate in the second half of the year. It also reaffirmed its full-year forecast. Still, the stock fell almost eight percent to $40.64.
Ann Inc. spiked in today’s session on a Reuters report that it hired J.P. Morgan to explore a possible sales. As we told you yesterday, two activist investors are urging the company, which owns Ann Taylor, to explore strategic alternatives including putting itself up for sale. The stock popped nearly five percent to $41.87.
Drones could be making a debut at Disney World. Walt Disney has filed three drone-related patents that it says could lead to an era of aerial movie screens and puppets flying through the sky. These drone-powered airshow could be an alternative to the fireworks and light shows at the company’s theme parks. Shares were off slightly to $90.02.
After the bell Tivo reported earnings that beat on strong subscriber growth, but its revenue and guidance were disappointing. Also in that report, the company announced a $350 million share buyback program. Separately, Tivo says its introducing a new DVR for customers without satellite TV. This device would record both over-the-air broadcasts and streaming online networks. After the report shares were volatile. During the regular session the stock was up two percent to $13.90.
Smith & Wesson
Smith & Wesson reported earnings that beat by a penny, but its sales were below forecasts on weaker demand for its guns. Its third-quarter and full-year guidance also came in below estimates. Shares initially plunged after-hours. During the regular session the stock was off just slightly to $13.10.