Herbalife won the dismissal of a lawsuit related to claims the company is an illegal pyramid scheme. The judge said in the decision that shareholders did not show that the maker of weight-loss and nutritional products inflated its stock by misrepresenting itself as a legitimate company. Shares popped 12.5 percent to $38.76.
General Mills reported earnings and revenue that beat. Earnings did fall on restructuring charges and as the stronger dollar hurt revenue. The maker of Cheerios also said it completed its previously announced plan to cut about 800 positions. Shares were 1.5 percent higher to $52.86.
Investors got a chance to react today to news that Kraft is recalling about 6.5 million boxes of Kraft Mac & Cheese because some packages may contain pieces of metal. The food company has received customer complaints, but no injuries have been reported. Shares of Kraft were up slightly to $61.87.
Microsemi & Vitesse Semiconductor
Microsemi announced the purchase of Vitesse Semiconductor for almost $400 million. This as other chip makers have also merged, driving consolidation in the industry. Shares of Microsemi were more than two percent higher. Vitesse Semi soared almost 40 percent, but it’s worth noting, it’s a small cap stock.
William Sonoma reporting late results that were in line with consensus. But the retailer gave weak guidance, which it partly blamed on the slowdown at the West Coast ports. It did hike its dividend by six percent to 35 cents a share. Shares lower initially in after-hours trading. Before the close, the stock was off about 3.5 percent to $80.96.
And Jabil Circuit, which makes phone casings for Apple reported a 20 percent rise in quarterly revenue, helped by strong iPhone sales. After the bell the stock popped initially. Before the close, the stock was up a penny to $22.65.