Market Focus

Pfizer

Pfizer hikes its full-year outlook sending shares higher. The drug maker upped its full-year revenue and adjusted earnings forecast. This as the firm recently acquired its smaller rival Hospira. Shares of the Dow component were up one percent to $31.41.

Twitter

Twitter’s search for a chief may have come to an end. According to Re/code , the social media’s founder, Jack Dorsey, who has been serving as interim CEO for the past few months, is expected to be named CEO. Dorsey will continue to run Square, which is a payments company he also founded. Shares of Twitter rose more than five percent to $26.94.

Synaptics

Synaptics, a company that makes touch-screen technology used in phones, reportedly rejected an offer from a Chinese investment group. According to Bloomberg, the bid valued the firm at almost $4 billion. Shares popped 27 percent to $82.46.

Western Digital

Western Digital on the other hand accepted a bid from a Chinese firm. China’s Tsinghua plans to take a 15 percent stake in the data storage firm. The stock rose 15 percent to $79.44.

Paychex

Paychex’s results beat estimates on both the top and bottom lines. The company saw its earnings rise more than 20 percent. Growth in the firm’s payroll and human resource services units helped results. Shares were 3.5 higher to $47.63.

Costco

Mixed results from Costco. The warehouse retailer easily beat estimates on the bottom line, but revenue slipped below consensus, which the company blamed on lower fuel prices and a stronger U.S. dollar. The stock was up a fraction to $144.57.

PBF Energy

PBF Energy is buying one of Exxon Mobil’s refineries in California. The deal has a price tag of about a half a billion dollars. Shares of PBF popped in initial after hours trading. During the regular session the stock was up more than two percent to $28.23.

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