Costco announced a surge in profits in its latest quarterly results. The wholesale giant’s numbers were lifted by a tax benefit related to a recent special dividend and lower fuel prices. Revenue was slightly below estimates, but same-store sales rose more than expected. The stock was up almost three percent to $151.17.
Kroger also announcing a big pop in earnings. The grocery store chain’s quarterlies beat on both the top and bottom lines, as it was also helped by lower fuel costs. It’s full-year outlook also topped views. Shares rose almost seven percent to $74.31.
Comments from Boeing’s chief financial officer helped lift the Dow component today. He told investors that cash flow levels will rise in coming years, but investors should expect the gains in 2015 to come towards the end of the year. The stock rose slightly to close at $154.47.
Simon Property Group & Macerich
Simon Property Group is mulling a bid for rival mall owner Macerich, according to a Wall Street Journal report. The mall owner hasn’t made any formal offers yet, although it did reveal a stake of around 3.5 percent in Macerich last year. Shares of Simon were down slightly to $187.13. Macerich popped five percent to $88.07.
And shares of Kythera Biopharmaceuticals surged today after reassuring news from regulators. The Food and Drug administration has backed its injection for double chin reduction, saying the benefits of the treatment outweigh the risks. Shares soared 25 percent to $50.02.