CSX reported better than expected earnings and revenue after the bell. The railroad operator said volume increased as merchandise and intermodal growth offset a severe drop in coal. Severe winter weather did impact volume in many markets. The company’s board also approved a seven percent increase in its quarterly dividend. The stock was up initially after the report. During the regular session shares were down slightly to $28.29.
Charles Schwab saw its first-quarter profit surge more than 50 percent. The discount broker’s earnings topped expectations. It got a lift from a rise in trading commissions and fees for managing client assets. The firm says it saw its quarterly trade volume rise to the highest in the company’s history. Shares were up more than three percent to $26.11.
Shares of Best Buy fell after news that the company’s president of U.S. retail stores is retiring. The chain’s executive, a company veteran who was just promoted a few months ago, is being succeeded by the retailer’s chief of human resources. The stock, which has gone from winner last year to sinner in 2014, tumbled nearly three percent to $25.00.
Zebra Technologies is buying a unit of Motorola Solutions for about $3.5 billion dollars. Both companies offer bar code scanning and other technologies that companies can use to control inventory. Zebra will fund the deal with more than $3 billion in new debt. Shares plunged more than ten percent to $61.30.
Twitter rose sharply on news its naming Daniel Grad as its new vice president of consumer products. Graf is the former director of Google maps. Separately, the social media company announced it was buying social data provider Gnip for an undisclosed amount. Shares popped almost 11.5 percent to $45.52.
Northern Trust posted earnings and revenues that were up compared to a year ago, but they missed analyst estimates. The Chicago-based bank said earnings rose more than ten percent on higher fee income, but the bank’s investment-management service fees were hurt were hurt by lower interest rates. Shares fell more than 2.5 percent to $59.63.