Shares of Ebay spiked after today’s closing bell. The company announced a $5 billion buyback plan after its earnings beat by a penny. The company also revealed that Carl Icahn owns slightly less than a one percent stake in the company and has nominated two directors to its board. Icahn also filed a non-binding proposal urging Ebay to split PayPal and its marketplace business. The stock initially surged after the close, shares ended the regular session slightly higher to $54.41.
American Eagle shares tumbled in the after-hours session. The struggling teen retailer said its CEO of two years, Robert Hanson, would leave the company, effective immediately. The company named a chairman and interim CEO and stood by earnings guidance it gave earlier this month. Shares ended the the regular session two percent lower to $14.31.
United Technologies saw profits plunge 29 percent in the fourth quarter. The maker of Otis elevators and Black Hawk helicopters saw profits decrease from last year but still, United managed to top estimates. The company was actually helped by a delay in shipping a helicopter order, because the helicopters are sold at a loss. Also, revenue came in light. Still, shares were up slightly to $116.12.
It was a totally different story at Norfolk Southern. The railroad operator saw earnings increase by 24 percent as strong chemicals, constructions materials and auto shipments offset a dip in coal volumes. The company also announced it will raise its quarterly dividend by two cents a share. That sent the stock up nearly five percent to $92.94.
The CEO of General Dynamics warned of a slight drop in earnings and revenue in 2014, but that didn’t spook investors. The military contractor’s chief also said it would aggressively return cash to shareholders through share buybacks and dividends. The stock popped 4.5 percent to $99.65.
Brinker International, the owner of Chili’s and Maggiano’s Little Italy chains, posted better-than-expected second-quarter earnings of higher sales. New menu items helped Chili’s increase same-restaurant sales for the first time in a year. Shares climbed to a record high, up 6.5 percent to $49.72.
Sears is closing its flagship downtown Chicago store in April, a move to cut costs and focus on online retailing. According a company spokesperson, the store has lost millions of dollars since opening in 2001. Shares of the retailer fell slightly to $37.59.