A cautious outlook weighed on Sonic’s report. The drive-in restaurant chain saw its sales and profit rise in its most recent quarter. On that, the company hiked its yearly forecast, but the new numbers didn’t meet Wall Street’s estimates. Shares were lower initially in after-hours trading. By the close shares rose 2.5 percent to $34.22.
Advanced Micro Devices
Advanced Micro Devices is reportedly weighing a breakup or a spinoff. The chipmaker denied the report, still Reuters cited sources saying the firm is holding preliminary discussions of breaking the company into two entities, or spinning off a business. Shares were 1.5 percent higher to $2.62.
An update on Twitter’s CEO shuffle. The company’s board said it’s looking for a CEO with a full-time commitment to running the company. Many viewed this a message to founder and current interim CEO Jack Dorsey, since he’s also the chief of the mobile payments startup Square. The board has hired a firm to help it find a permanent replacement. Shares were off a fraction to $35.55.
General Mills is the latest food company to get a little healthier. Today the maker of cereals like Lucky Charms and Coco Puffs announced its getting rid of artificial flavors and colors from all of its cereals by 2017. The food company didn’t say how much the upgrade will cost, but says consumers won’t foot the bill. Shares were a few cents higher to close at $56.57.