Market Focus

American Airlines

American Airlines reported an increase in traffic in July. More passengers flew American and there were fewer empty seats per flight. Shares were 2.5 percent higher to $42.70.

Symetra Financial

A Japanese company called Sumitomo Life Insurance will buy the U.S. insurer Symetra Financial in a deal worth nearly $4 billion. The deal comes as Japanese insurers have been looking overseas for acquisition opportunities because of a declining aging population in Japan. Shares were almost seven percent higher to $31.50.

Symantec

The cyber security software maker Symantec is selling its data storage business called Veritas to Carlyle Group. Symantec will use some of the proceeds from the $8 billion deal to increase its stock buyback program. The firm also announcing quarterlies that missed estimates. The stock tumbled nearly seven percent to $21.34.

General Electric & Capital One

On Friday we told you about reports that the credit card lender Capital One Financial was in talks to buy General Electric’s health care finance unit. Today that deal is official. The price tag on the acquisition is $9 billion. Shares of General Electric fell two percent to $25.71. Capital One was off almost two percent to $80.87.

Red Robin

Red Robin disappointed investors as earnings were in-line with estimates, but sales missed forecasts. The company also gave a dismal outlook, saying it expects revenue growth for the year to be at the low end of its estimates. Shares slid more than nine percent to $80.15.

Towers Watson

Towers Watson managed to post a beat on both the top and bottom lines. This is the consulting company that agreed to merge with Willis Group in late June. Despite the beat, the stock was off a fraction on this down day to $125.13.

Zebra Technologies

Zebra Technologies reported earnings and guidance that missed estimates. The printing technologies company did see sales rise as it benefited from the acquisition of Motorola’s scanner business. Still, shares slid about 24 percent to $83.80.

Fogo De Chao

And Fogo De Chao posted an earnings beat in its first release since going public in June. The Brazilian steakhouse also reported restaurant sales growth. Shares were up slightly in initial after hours trading. By the close, the stock was up more than two percent to $20.

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