Sales at J.C. Penney fell in its third quarter and shares of the retailer followed suit. The company’s loss was smaller than expected as a drop in operating expenses helped improve margins, but shopping momentum dwindled after back-to-school sales, so revenue came in light. After the bell shares initially fell. During the regular session the stock rose almost 8 percent to $7.76.
American Eagle Outfitters
American Eagle Outfitters guided higher for its third quarter profits lifting shares in today’s session. The teen retailer pointed to reduced markdowns and lower expenses. The company will officially report results in a few weeks. Shares popped 10 percent to $13.80.
Beazer Homes posted its full-year of profitability in eight years and beating estimates by a wide margin. The home builder’s results were helped by higher selling prices and better margins and a big tax benefit. Despite that, shares fell three percent to $18.62.
Shares of SeaWorld tanked today after it announced a disappointing third-quarter performance. The theme park operator saw its revenue, profit and attendance fall as its been dealing with controversy over its treatment of killer whales. Shares tumbles 9.5 percent to $16.85.
Investors bought up shares of Twitter after its CEO outlined a plan to attract new users at its analyst say. The social media company is considering crafting new apps and improving messaging. It will also roll out an instant timeline to make it easier for users to find content without having to extensively search. Shares were up 7.5 percent to $42.54.
Caesars has reportedly reached an agreement with key creditors on a restructuring. The plan includes a prearranged bankruptcy for the casino operator’s largest unit, which could happen as soon as January. Shares surged 23 percent to $13.67.
Susquehanna Bancshares & BB&T
BB&T is buying Susquehanna Bancshares for $2.5 billion in cash and stock. That’s more than a 30 percent premium to its closing price yesterday. Susquehanna has over $18 billion in assets and BB&T is one of the biggest lenders in the southeast. Shares of Susquehanna were up 32.5 percent to $13.12. BB&T fell almost two percent to $37.67.