Dean Foods posted a steep sales decline. The company’s chairman also suddenly left the firm with no explanation, which weighed on shares today. The milk processor managed to beat earnings expectations. Still, shares fell almost three percent to $17.21.
Sysco out with mixed quarterlies. Profit fell compared with last year because of charges related to its abandoned plan to buy U.S. Foods. Still, the food distributor managed to beat on the bottom line, while sales were below consensus. He stock was up nearly two percent to $37.59.
Alibaba is investing nearly $5 billion in a Chinese electronics chain. The e-commerce company’s CEO, Daniel Zhang, says the partnership will offer consumers a larger selection of offerings. Shares rose two percent to $80.47.
Shake Shack posted a beat on both the top and bottom lines. The fast casual burger chain saw sales rise and it hiked its sales outlook for the year. The chain also announced a proposed secondary stock offering of four million shares. In initial after-hours trading, the stock rose. At the close, shares were off 1.5 percent to $70.64.