SunEdison & Terraform Power
SunEdison is adding some wind-fueled power to its business. The company and its subsidiary Terraform Power are buying privately held First Wind for almost $2.5 billion. First Wind develops and operates wind farms across the U.S., while SunEdison develops solar power plants. Shares of both companies surged, SunEdison rose 29 percent, Terraform rose almost 27 percent.
Medtronic posted earnings and revenue that matched estimates. The medical device maker also said its full-year revenue will come in at the upper-end of forecasts. Separately, the company says it still plans to buy Ireland-based Covidien in a deal that will likely cut its U.S. tax bills. Shares climbed almost five percent to $72.47.
TJX Companies, the parent of TJ Maxx, Marshalls and Home Goods reported sales that missed expectations and it lowered its full-year earnings outlook. It blamed unusually warm weather in Europe for the weak sales. Still, shares rose 10 cents to $61.64.
Dick’s Sporting Goods
Dick’s Sporting Goods says its profit dipped in its third quarter because of weak demand for its golf and hunting equipment. The retailer managed to post results that met Wall Street’s estimates, but same-store sales rose less than expected. That sent shares down a fraction to $47.10.
Astrazeneca updated investors on its promising product line, sending shares higher. The drug maker is betting on new cancer drugs to help drive long-term revenue growth, it expects to bring six cancer drugs to market by 2020. The stock was up two percent to $73.98.
La-Z-Boy posted better than expected second quarter earnings after the closing bell, sending shares initially higher. The furniture company also hiked its quarterly dividend by 33 percent to 8 cents a share. The stock spiked right after that announcement. Before the close, shares reclined slightly to $22.58.