News Summary

Shares of Finish Line Inc (NASDAQ: FINL) fell about 0.7% after the company reported a 20% rise in its FQ1 earnings. The company's earnings came in at $16.4 million, or $0.30 per share, up from $13.6 million, or $0.25 per share, in the year-earlier period. Its revenue climbed 6% to $299 million from...

Shares of Lennar Corp (NYSE: LEN) gained about 1.8% after the company reported a 65% drop in its fiscal second-quarter net profit. Lennar's quarterly net profit fell to $13.8 million, or $0.07 per share, from $39.7 million, or $0.21 per share, in the year-earlier period. Its revenue declined 6% to...

Shares of FedEx Corp (NYSE: FDX) rose about 3% after the company reported a 33% rise in its fiscal fourth-quarter profit. FedEx reported its quarterly profit at $558 million, or $1.75 per share, up from $419 million, or $1.33 per share, in the year-earlier period. Its total revenue climbed 12% to $...

Shares of Walgreen Co (NYSE: WAG) dropped about 5.7% after the company reported a 30% rise in its fiscal third-quarter profit on Tuesday. Walgreen's quarterly profit surged to $603 million, or $0.65 per share, from $463 million, or $0.47 per share, in the year-earlier period. Its sales increased to...

Shares of PNC Financial Services Group Inc (NYSE: PNC) fell about 0.5% after the company announced its plans to acquire RBC Bank (USA), the US retail banking subsidiary of Royal Bank of Canada (NYSE: RY), for $3.45 billion, or $112 million discount to tangible book value. PNC projects the deal to...

Shares of Amdocs Ltd (NYSE: DOX) rose about 0.5% after the company agreed to acquire Bridgewater Systems Corp for C$8.20 per share in cash, or about C$211 million ($214 million) in total. The Boards of Directors of both the companies have each unanimously approved the deal. The deal is likely to be...

Shares of Pier 1 Imports Ltd (NYSE: PIR) gained about 1.1% after the company reported an 84% surge in its fiscal first-quarter net income on Thursday. Pier 1 reported a 10.2% rise in its comparable-store sales. Pier 1's quarterly earnings came in at $14.1 million, or $0.12 per share, up from $7.7...

Shares of Sensata Technologies Holding NV (NYSE: ST) gained about 0.4% after the company announced that some of its units will buy Sensor-NITE Group Companies from Elex Group for euro 225 million or around $325 million. Sensata reported that the deal should close in the third quarter, subject to...

Shares of Honda Motor Co (NYSE: HMC) fell about 0.6% after the company projects a 63.5% drop in its profit for the current fiscal year. Honda expects a profit of 195 billion yen ($2.4 billion) for the current fiscal year, down from 534 billion yen in the last fiscal year. However, analysts expected...

Shares of Wendy's/Arby's Group Inc (NYSE: WEN) gained about 4% after the company announced its plans to sell Arby's Restaurant Group Inc to private equity firm Roark Capital Group for $430 million. Wendy's/Arby's will retain an 18.5% interest in Arby's Restaurant. The deal is likely to close in the...

Shares of Toyota Motor Corp (NYSE: TM) dropped about 0.9% after the company projects operating profit for the business year to drop 35% to 300 billion yen ($3.7 billion). However, analysts expected 434 billion yen operating profit for the year. Toyota's operating profit in the year to March 2011...

Shares of Visa Inc (NYSE: V) dropped about 0.5% after the company announced its plans to acquire South Africa's Fundamo, a leading platform provider of mobile financial services, for around $110 million in cash. It also signed a long-term agreement with Monitise plc (OTC: MONIF). The transaction is...

Shares of McDonald's Corp (NYSE: MCD) dropped about 1.1% after the company reported a 3.1% rise in its global comparable sales at all restaurants in operation at least 13 months in May. McDonald's sales increased 2.4% in the US, rose 2.3% in Europe and surged 4.3% in Asia, Middle East and Africa....

Shares of Ford Motor Company (NYSE: F) gained about 1.1% after the company reported a 14% y/y rise in its May wholesale vehicle sales in China. Ford's wholesale vehicle sales in China came in at 45,162 units in May. Its sales for the first five months of the year surged 15% to 230,068 units. Sales...

The International Air Transport Association (IATA) reported that it now projects member airlines to make a net profit of $4 billion this year, lower than its earlier March forecast of $8.6 billion. IATA also expects lower passenger and cargo demand. Profits in Asia are expected to drop by 80% from...