El Loco Pollo
Investors went loco for shares of El Pollo Loco in the casual dining chain’s market debut. The restaurant, which has most of its locations in California, raised more than $100 million in today’s initial public offering of about 7 million shares. The stock is listed on the Nasdaq with the ticker LOCO. The stock soared 60 percent to $24.03.
Stanley Black & Decker
Shares of Stanley Black & Decker popped after the tool maker reported that its profit climbed in the second quarter. That as it managed to increase sales and trim costs. Adding to those results, the company lifted its earnings outlook for the year. The stock rose almost seven percent to $90.77.
Abbvie’s arthritis drug Humira helped the drug maker’s second quarter sales. It beat on both the top and bottom lines. And just last week, the company announced it is planning to buy Shire for $55 billion. Despite those earnings, shares were off 1.5 percent to $53.18.
Xerox posted mixed results, with revenue coming in below estimates as it was hurt by lower demand in its printing business. The company did lift the lower end of its earnings forecast for the year. Investors focused on that good news, sending shares up almost 2.5 percent to $13.15.
Shares of Swift Transportation went the other way after it issued a disappointing outlook and warned of a driver shortage. The trucking company said it was going to have to spend more on wages and training in order to attract additional drivers. Shares of Swift Transportation fell about 18 percent to $21.20.
Delta hiked its dividend payout to 9 cents a share. That will be paid to shareholders at the end of August. Despite that shares edged lower to $38.06.