OM group surges on news it will be taken private. The specialty chemical maker will be bought by Apollo Global Management for about $1 billion. The firm has been hurt by a slowdown in industrial activity in Europe and especially Germany, which is its largest market. Shares surged 28 percent to $34.04.
MGM Resorts, Wynn Resorts & Las Vegas Sands
Weak Macau gambling revenue weighed on casino stocks in today’s session. MGM Resorts, Wynn Resorts and Las Vegas sands all slipped on news casino revenue in the city was down almost 40 percent. It is the 12th straight month of declines.
Shares of all three casino operators were off by more than 1.5 percent.
Management changes at Disney to tell you about. The company’s chief financial officer, James Rasulo, will step down at the end of June. The media and entertainment giant hasn’t name a successor yet, but Rasulo will stay on in an advisory roll to help in the transition. Shares were a fraction higher to close at $110.96.
Strong results from PVH Corporation after the close. The company behind retailers like Calvin Klein and Tommy Hilfiger reported earnings and revenue that topped estimates and it hiked its profit outlook for the year. The firm also announcing a $500 million share buyback. Shares spiked initially after the close. In regular trading, the stock was a fraction higher at $104.68.