AIG posts a big earnings miss. Income in all but one of the company’s underwriting businesses and market volatility weighed on the firm. The insurance giant’s disappointing results come as shareholders like activist investor Carl Icahn have been pushing the firm to break up. Shares dropped initially after the close. During the regular session the stock was up one percent to $63.74.
HSBC saw its profits rise in its third quarter. Earnings topped expectations as a decrease in regulatory fines made up for increased spending. The bank also says it will move ahead with cost-cutting measures. The stock was off a few cents to $39.04.
Another smaller deal to tell you about. Constant Contact, an email marketing company, will be purchased by Endurance International Group in a deal worth a little over $1 billion. Endurance says the investment will give it access to a half a million new customers. Shares soared 22 percent to $31.88.
Sysco saw its profit slide more than ten percent. This as expenses from its abandoned merger with rival US Foods weighed on its bottom line. Even a rise in sales couldn’t offset the costs. Shares fell a fraction to $41.04.
Estee Lauder reported results that easily topped estimates. Despite the impact of a stronger dollar, the beauty company saw sales rise. The firm also hiked its quarterly dividend by 25 percent to 30 cents a share. The stock popped eight percent to $86.97.