Shares of Michael Kors rose on an earnings beat. The handbag maker managed to post results that trumped estimates on both the top and bottom lines. Its full-year guidance also came in above consensus. Profit did fall for the second straight quarter, but investors overlooked that, sending shares up eleven percent to $43.77.
Brinker International, the parent company of the restaurant Chili’s, posted disappointing quarterlies. Revenue rose, but missed its own estimates because of weaker sales. Shares were off nearly five percent to $56.48.
Molson Coors brewed up a beat on the bottom line, but sales were below analyst estimates. Cost cutting and demand for higher-margin beers helped the firm’s results. Shares were almost five percent higher to $73.65.
Shares of Generac tumbled after it’s earnings and revenue came in well below estimates. The maker of power generators blamed the miss on a record low level of power outages. The stock was off fourteen percent to $29.10.
The New York Times
The New York Times saw its earnings rise nearly 80 percent after it cut operating costs. Revenue was off because of weak advertising sales. That sent shares down three percent to $12.80.
Costco reporting same-store sales that were flat in July, but that’s better than the drop off that wall street was expecting from the wholesale retailer. Still shares were off slightly to $146.44.
Dow component IBM is buying the medical image company merge healthcare in a deal worth $1 billion. The firm will combine with big blue’s new health analytics unit. Shares of IBM fell less than one percent to $156.32, while Merge soared over 31 percent to $7.10.