Cablevision rallied on buyout interest. The cable operator was the best performer in the S&P 500 today following a Wall Street Journal report that the French telecommunications company Altice is interested in buying it. Shares popped more than seven percent to $26.67.
American Airlines also rose on June results. Traffic last month jumped, outpacing a rise in capacity, which is a key industry metric. Shares rose nearly four percent to $41.21.
United Continental also reported an increase in June traffic, but the airline lowered its second quarter outlook, saying it expects its pretax profit margins for the second quarter will be at the low range of guidance. The company blames a strong dollar. Shares were four percent higher to $55.51.
GM is recalling nearly 800,000 crossovers. This after it discovered a defect with its power lift-gate that had caused at least 56 injuries. The company saying the lift gate may wear down prematurely, causing it to fall too quickly. Shares were more than one percent higher to $31.40.
And Lockheed Martin is reportedly in advanced talks to acquire the Sikorsky helicopter unit from United Technologies. A deal between the two companies could be worth more than $8 billion. Shares rose one percent to $194.19.