Dillard’s saw its earnings fall, which it blamed on weak sales performance. The department store chain said demand was down in its men’s clothing and home and furniture units. Shares fell nearly 6.5 percent to $72.52.
Liberty Global has agreed to purchase the Caribbean cable operator Cable & Wireless in a deal worth more than $5 billion. The move will help Liberty expand in the emerging market. Shares of Liberty Global fell nearly three percent to $44.10.
Media General, Nexstar Broadcast & Meredith Corp
The television company Media General has rejected a nearly $2 billion buyout offer from Nexstar, but said it’s still willing to engage in merger discussions with the firm. This comes after a nearly $2.5 billion bid from Media General for Meredith corp. Media General fell a fraction to $15.38. Nexstar rose one percent to $58.63. And Meredith Corp was nearly two percent higher to $45.87.
Constellation Brands say it will buy Ballast Point for about $1 billion. The acquisition will give Constellation a stake in the fast-growing craft beer market. Shares rose more than two percent to $135.26.
Urban Outfitters is entering the pizza business. The retailer will buy the Vetri Family Restaurant Group. The company says it believes there is cross-shopping potential between its retail stores and the pizzeria. Shares tumbled more than seven percent to $22.67.
General Electric & Textron
General Electric aviation says it has teamed up with Textron aviation. The two firms will create a new turboprop aircraft and engine. GE says the move is part of an effort that it expects will generate up to $1 billion in annual sales by the year 2020. General Electric rose a fraction to $30.36. Textron was 3.5 percent higher to $42.44.
The speech recognition software maker, Nuance, reported late results that came in better than expected. It’s revenue forecast was below some estimates, but investors overlooked that. Shares popped initially after the close. During the regular session the stock was nearly three percent higher to $17.05.