News that Chinese officials are investigating Nu Skin sent shares of the beauty-products maker in a nose dive. Nu Skin couldn’t selloff fast enough today, in fact shares halted a few times because of excessive movement. After reports that Chinese officials said they are going to investigate accusations that the U.S. based company is operating an illegal pyramid scheme in China. The stock plunged 26 percent $84.80.
Viacom declared a quarterly cash dividend of 30 cents per shares on both its Class A and Class B stock. The media giant will return that cash to shareholders on April first. Despite that, both stock classes were down slightly. Class A shares closed at $85.14 and Class B shares closed $84.94.
United Continental will furlough about 685 of its junior flight attendants as part of a plan to cut costs. The furloughs are a new addition to a money-saving plan United announced last year, which aimed to save $2 billion annually. The original cuts failed to attract enough workers for voluntary furloughs and job-sharing. Despite today’s announcement, shares were up 1.5 percent to $47.21.
CEC Entertainment & Apollo Group
CEC, the parent of Chuck E. Cheese, will be bought by the private equity firm Apollo Group. The fund will pay about $1.3 billion, including debt assumption for the kid-centric restaurant chain. Both stocks went higher after the buyout news broke, shares of Apollo rose slightly to $36.05, shares of CEC popped 13 percent to $54.75.
Hershey’s & 3D Systems
Hershey’s and 3D Systems have a sweet deal in the works. The candy maker and the 3D printing company are coming together to develop a 3D printer that cranks out chocolate. There’s no news as to when this magical device will be on the market or how much it will cost. But, just the promise sent share of Hershey’s up more than one percent to $99.50. Shares of 3D Systems also rose more than 2.5% to $92.17.
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