AIG reported a rise in profits and it increased its buyback plan. The insurance giant’s results were helped by strength in its life insurance business. The company also upped its share repurchase program by $1.5 billion dollars. Shares were initially higher after hours. During the regular trading day the stock was slightly higher at $53.80.
Sprint lost more money than analysts expected and revenue missed estimates. The company also announced that it will slash 2,000 jobs as part of an effort to cut costs. That sent shares lower right after the report. Before the close shares popped 4.5 percent to $6.20.
Herbalife followed suit with disappointing after the bell results. The nutrition supplement company posted sales and earnings that came in below expectations. It also offered a sales outlook that was well below Wall Street forecasts. Shares were sharply lower initially after hours. During the regular session shares rose 6.5 percent to $55.90.
Church & Dwight
Earnings at Church & Dwight rose seven percent of higher sales. The maker of Arm & Hammer baking soda says new product introductions helped bolster its results, but its outlook for the current quarter disappointed investors. Shares fell a fraction to $72.11.
Amerisource Bergen hiked its quarterly dividend. The pharmaceutical distributor has increased the payout by 23 percent to 29 cents a share. Last week the company reported better than expected earnings. That all sent shares nearly two percent higher at $86.90.
Allergan, Valeant & Actavis
Allergan saw its shares move higher after it said in an SEC filing that it had been approached by another party regarding a potential transaction. Multiple reports said that company was Actavis. This comes as Allergan, the maker of Botox has been trying to fend off a hostile takeover by Valeant Pharmaceuticals and Bill Ackman’s Pershing Square. Allergan and Actavis rose more than 1.5 percent. Valeant fell slightly.