Wall Street cheered LinkedIn’s earnings, sending shares higher. Three top investment firms: Stifel, Canaccord and JP Morgan all hiked their price targets on LinkedIn after the social media company’s quarterly profits and revenue beat estimates. Shares surged almost 13 percent to $228.96.
Sony’s restructuring plan may be paying off and that gave a big boost to its stock. The company posted a smaller than expected operating loss in its second quarter, driven by strong sales of its PlayStation 4 video game console and camera sensors for smartphones. That offset weakness in its mobile division. Shares popped almost six percent to $19.82.
Honeywell is upping its annual dividend. The conglomerate is hiking the payout by 15 percent to $2.07 a share. The increase will be effective starting in the fourth quarter. Shares rose a fraction to $96.12.
Earnings at Expedia surged 50 percent and investors scrambled to buy the stock. The online travel company said third quarter profits benefited from increased hotel bookings. Shares were up more than five percent to $84.97.
Weakness in the U.S. and Russia kept the lid on Anheuser-Busch’s sales. But the bud brewer said third-quarter profit was higher because of cost cuts and strong sales in other markets. The company says it thinks profit growth should bubble up soon. Shares were volatile, but ended almost a dollar higher at $110.98.
Clorox edged higher after reporting sales that topped consensus. The maker of cleaning products said the strength was in its household division. The stock was up 90 cents to $99.50.
Drug maker Abbvie posted revenue well above expectations, helped by strong sales of its Humira arthritis drug. On that, the company hiked its full-year earnings forecast. Abbvie said it could deliver long-term growth without rushing into another merger. Earlier this month it called off its planned purchase of Shire. Shares were up almost four percent to $63.46.
Aegerion Pharmaceuticals was one company that didn’t join in today’s rally. The company reported a big loss in its third quarter on weaker than anticipated sales. It also slashed its full-year revenue guidance significantly. Shares plopped 40 percent to $20.19.