The bird flu is taking a bigger toll on Post Holdings. The breakfast food company said about 20 percent of its egg supply has been affected by the avian flu, raising concerns that the outbreak will inflate costs. Shares fell eight percent to $44.91.
Ralph Lauren saw its earnings fall in its most recent quarter as foreign currency impacts are weighing on the company. The apparel maker did announce it will repurchase $500 million of its shares. Shares fell three percent to $129.18.
After the closing bell J.C. Penney reported a loss that was much smaller than expected. Revenue was slightly below consensus, but the retailer upped its guidance for margins and same-store sales. The stock was volatile initially in after-hours trading. Before the close, the stock was off almost two percent to $8.71.
Shake Shack impressed investors with a surprise profit. The hamburger chain saw revenue surge more than 50 percent and same-restaurant sales beat expectations. After the close, the stock initially popped. In regular trading shares rose four percent to $68.36.
Delta & Southwest Airlines
Delta and Southwest Airlines both unveiling buybacks and new dividends. Delta said it plans $6 billion in share repurchases and higher dividends through 2017. Southwest launched a $1.5 billion buyback plan and upped its dividend to 7.5 cents a share. Delta rose 1.5 percent to $46.78. Southwest was off more than two percent to $41.27.
Pall Corp & Danaher
We told you last night that Pall Corp was reportedly looking to sell itself. Today it was announced that Danaher will buy the filtration systems maker in a deal worth nearly $14 billion. Shares of Pall Corp. Were up about 4.5 percent to $123.89. Danaher rose 1.5 percent to $87.35.