Market Focus

Tiffany

Shares of Tiffany surged after the retailer reported sparkling first quarter earnings. Tiffany easily beat analyst estimates as worldwide sales jumped by double digits, with new collections driving sales in the Unites States. The luxury goods seller also raised its full-year forecast. The stock popped nine percent to $96.30.

Lowe’s 

Lowe’s says the rough winter weather weighed on its first quarter results. But the home improvement retailer raised its full-year earnings forecast, saying business has already started to turn around. Still, earnings missed estimates and shares fell slightly to $45.41.

American Eagle

American Eagle’s first quarter profit plunged by more than 80 percent as the teen retailer was hit by weaker sales and margins. Investors were disappointed with news that the company plans to close 150 more stores in North America and its forecast for second quarter earnings was below estimates. Shares tumbled 6.5 percent to $10.60.

William Sonoma

William Sonoma posted better than expected first quarter earnings and revenue. It also saw same-store sales rise more than forecast. Its outlook for the second quarter came in a bit light, but investors didn’t seem to mind. Shares were up after the close, during the regular session the stock rose only slightly to $63.73.

Lorillard & Reynolds America

Reynolds America is reportedly in active talks to buy Lorillard. The proposed deal would combine the second and third largest tobacco companies in the U.S. The merger buzz sent shares of both companies up, Lorillard rose more than ten percent $62.63, Reynolds America was up more than four percent to $59.77.

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