11:45 PM New York – Abbott agreed to acquire Chile-based CFR Pharma for $2.9 billion. Applied Materials net swung to profit after sales soared 19%. Autodesk net tumbled 49%. Darden agreed to sell its Red Lobster business for $2.1 billion in cash. Nordstrom net fell 3%.
gained 1.4% or 55 cents to $39.79 after the health care products maker agreed to acquire Chile-based CFR Pharmaceuticals for $2.9 billion, plus net debt of about $430 million to expanding its presence in Latin America.
The transaction expected to closes by the end of the third quarter of this year.
Applied Materials, Inc
) jumped 6.9% or $1.30 to $19.99 after the wafers and chips maker said net sales in the second-quarter ending in soared 19% to $2.35 billion.
Net in the quarter swung to profit $262 million or 21 cents a diluted share compared to a loss of $129 million or 11 cents.
) climbed 5.8% or $2.76 to $50.58 after the application software service provider stated revenue in the first-quarter ending in March increased 4% to $592.5 million.
Net income in the quarter tumbled 49.1% to $28.3 million or 12 cents a diluted share compared to $55.6 million or 24 cents.
Darden Restaurants, Inc
) declined 4.3% or $2.20 to $48.49 after the full service restaurant operator agreed to sell its Red Lobster business to private-equity investment firm Golden Gate Capital for $2.1 billion in cash.
The sale is expected to result net cash of about $1.6 billion of which Darden will use to reduce outstanding debt of $1 billion.
The sale is expected to complete in the first quarter of fiscal 2015.
J.C. Penney Company, Inc
) soared 16% or $1.34 to $9.71 after the department stores operator said sales in the first-quarter ending on May 3 increased 6% to $2.80 billion. Comparable store sales in the quarter jumped 6.2%.
Net loss in the quarter widened to $352 million or $1.15 a diluted share compared to $348 million or $1.58.
) surged 11% or $6.76 to $68.25 after the specialty retailer reported total revenue in the first-quarter ending on May 3 jumped 6.5% to $2.93 billion. Comparable store sales in the quarter climbed 3.9%.
Net earnings in the quarter fell 3.4% to $140 million or 72 cents a diluted share compared to $145 million or 73 cents.
) rose 1.2% or 71 cents to $60.99 after the Canada-based professional consulting service provider said total revenue in the first-quarter ending in March jumped 11.8% to $573.9 million.
Net income in the quarter soared 18% to $33.5 million or 71 cents a diluted share compared to $28.4 million or 61 cents.
Verizon Communications Inc
) gained 2.5% or $1.21 to $49.17 after the Federal Communications Commission today approved rules governing its spectrum screen will benefit to marketplace and consumers said Craig Silliman, Verizon senior vice president, public policy.