Barnes & Noble
Another disappointing quarter from Barnes & Noble. Demand for the retailer’s nook tablets continued to fall and customers stayed away from its stores. Still, its loss was narrower than expected. Barnes & Noble also disclosing a management shift. CEO Michael Huseby will leave his post and become executive chairman of the company’s college bookstore group after the firm spins it off. Shares fell 1.5 percent to $25.94.
A round of job cuts at General Mills. The food company expects to eliminate up to 725 positions abroad, in an effort to reduce costs and invest more in innovation in its international business. This as the firm adapts to changing consumer tastes and economic challenges. Shares were off a fraction to $56.49.
Kroger is hiking its dividend, launching a 2-for-1 stock split and buying back $500 million worth of its stock. This as the grocery chain has reported stronger results in recent quarters. The new dividend is 21 cents a share and will be paid to shareholders in September. Kroger has a yield of around one percent. Shares were up a penny to $72.95.
Winnebago out with earnings and revenue that topped estimates. This as the motor home maker shipped more vehicles. The firm attributes the increase to Americans spending more on big-ticket items and an improving economy. Shares popped nine percent to $22.57.
McDonald’s is selling stores in Taiwan to a franchise operator in an effort to expand its franchise business in China. This as the company tries to turn around its fortunes in Asia and cuts costs. In the U.S., the chief of the burger chain says the company is trying to bring back the brand with small changes. Shares slipped a fraction to $95.79.
TransUnion made its Wall Street debut today. The credit reporting firm raised about $665 million in its trading debut today. Shares were priced at $22.50 a piece, near the high-end of estimates. The stock closed at $25.40, a gain of about 13 percent.
Micron report earnings and revenue that missed estimates after the closing bell. The chip maker blaming the miss on weakness in the personal computer sector. Shares slid initially after the close. In regular trading the stock was off a fraction to $24.02.
Zoetis & Valeant
And the animal health company Zoetis was halted late in the day after it was approached by Valeant Pharmaceuticals about a takeover, according to the Wall Street Journal. The firm had a market cap of around $25 billion before the report of the approach. Shares shot up about 11 percent on the report. Valeant also rising into the close.