General Mills is selling its vegetable brands Green Giant and Le Sueur to B&G Foods for nearly $1 billion. General Mills, which owns Cheerios and Yoplait, says the deal will allow it to focus on its other brands. Shares of B&G foods popped more than 11 percent to $34. General Mills was more than one percent higher to $57.61.
Lands’ End saw its sales continue to slip in its most recent quarter. The company’s spring and summer apparel didn’t perform well with customers, but the declines in profit and revenue weren’t as steep as some analysts had expected. And that sent shares five percent higher to $27.45.
A big miss from Joy Global. The mining equipment company reported earnings and revenue that came in below estimates as weak demand for commodities weighed on its business. The company also cut its guidance for the full-year. Shares tumbled more than 14 percent to $18.90.
Verizon & Royal Caribbean
And Verizon and Royal Caribbean are raising their dividends. Verizon’s new payout of 56.5 cents a share will be payable in November to shareholders on record by October 9th. Royal Caribbean increased its dividend to around 37 cents a share, which will payable to shareholders in October who are on record as of September 18th. Verizon shares were slightly higher to $45.72. Royal Caribbean rose a fraction to $89.29.