Investors are taking interest in General Motors. According to regulatory filings, at of the end of December, Jana Partners added to positions in the auto maker, upping it to nearly eight million shares. Leon Cooperman of Omega Advisors opened a stake in the largest U.S. automaker, buying more than one million shares. That sent the stock up two percent to $35.95.
VF Corporation saw fourth-quarter earnings climb ten percent on sales growth in its outdoor brands like The North Face. But results fell short of estimates because of declines in some of the company’s units, like its jeans business. That contributed to an outlook softer than a pair of well-worn wranglers. Shares tumbled five percent to $56.85.
J.M. Smucker also missed earnings estimates. The maker of Folgers coffee took a hit because of competition in its peanut butter business as well as currency-related issues. Health-conscious consumers didn’t help business either, since many are avoiding artificial sweeteners. A week outlook topped off the bad report. Shares fell nearly five percent to $90.51.
This miserable winter hasn’t been so bad for Campbell’s Soup. More American bought soup, which sent profits up more than 70 percent. The late Thanksgiving holiday also helped by pushing shipments to retailers into the company’s last quarter. The food maker reaffirmed its outlook. Shares rose five percent to $43.01.
Jos. A. Bank
After a series of back and forth buyout offers with Men’s Wearhouse, retailer Jos. A. Bank said it would buy Eddie Bauer, in an effort to stay independent. Bank is buying the privately held company for around $800 million, because it said the deal provided better shareholder value than buying or selling to Men’s Wearhouse. The chain also upped its share buyback plan. The stock rose slightly to $55.12.
There are reports that the U.S. Speedskating Federation is requesting to switch the team’s suits, which are designed by Under Armour. The team is trying to make sense of its poor performance and now the speculation has turned to the competitor’s new high-tech suits. The uniform was designed by the sports retailer with help from defense contractor, Lockheed Martin. Shares fell more than two percent to $106.