The merger between American Airlines and US Airways is now one step closer to completion. Regulators granted the airline group a single operating certificate, marking a milestone in their integration since the carriers merged in 2013. The news means the Federal Aviation Administration now recognizes the airline as one. Shares of American Airlines rose more than 2.5 percent to $48.74.
Disney & IMAX
You can expect to see more Disney movies in IMAX theaters. The two companies have renewed their movie exhibition deal through 2017, covering releases from Disney, Pixar, Marvel and Lucasfilm, including blockbuster hits like Star Wars. Shares of Disney rose a fraction to $106.36. IMAX was three percent higher to $36.33.
Strong prescription sales helped Rite Aid beat profit estimates. Revenue also topped estimates, but the drugstore chain offered a full-year outlook below street estimates. Still, shares rose two percent to $8.87.
Tesla announced an upgrade of its flagship Model S. The new electric car features a larger battery pack and all-wheel drive. The car will start at around $75,000, that’s Tesla’s lowest priced model. Shares were up two percent to $207.67.
Shares of Pentair went the other way after the company disappointed investors with its guidance. The industrial machinery firm slashed its first quarter estimates citing the strong dollar and lower-than-expected oil and gas industry demand. The stock fell 3.5 percent to $62.21, making it the worst performer in the S&P 500.
And Triumph Group announced some management changes. The aerospace engineering and components maker’s CEO is stepping down and will be replaced on an interim basis by the company’s founder. The board is searching for a permanent CEO candidate. Shares popped 8.5 percent to $65.06.