A disappointing outlook weighed on shares of Dow component DuPont. The firm trimmed its earnings outlook for the year on weakness in its agricultural business and because of the stronger dollar. DuPont also slashed its dividend from 49 cents a share to 38 cents. The company does plan to buy back $4 billion in stock over the next 18 months. Still, shares slipped 1.5 percent to $55.90.
JetBlue bucked the industry trend with its earnings report. Quarterly profits matched estimates and the carrier, unlike other airlines, doesn’t expect passenger unit revenue to drop in July. The company says demand is strong. Shares rose two percent to $22.82.
BP still feeling the impact of the huge Gulf of Mexico oil spill. The firm swung to a $6 billion loss as low oil prices and a massive charge for settling the spill slammed the company’s profit. The oil giant also announced a cut to its full-year capital spending plan. Despite all that shares were about 3.5 percent higher to $37.29.
Supervalu, the supermarket operator, is considering spinning off its Save-A-Lot chain into a separately publicly traded firm. This as the company is facing increased competition. The news came along with better than expected growth in profits and revenue. The stock was ten percent higher to $8.14.