12:05 PM New York – American Electric Power agreed to sell its subsidiary to American Commercial Lines for $550 million. CalAmp netjumped 7%. Delta Air Lines passengers’ unit revenue in September declined 5%. Micron Technology profit tumbled 59%. Progress Software net swung to loss.
Tollbooth Index fell 51.35 or 0.5% to 10,122.32.
American Electric Power Co Inc
) slid 1 cent to $56.14 after the electricity producer agreed to sell its commercial barge transportation subsidiary, AEP River Operations LLC, to American Commercial Lines owned by Platinum Equity for about $550 million.
The transaction is expected to close in the fourth-quarter of this year.
) soared 5.3% or 87 cents to $17.17 after the online vehicles marketing services provider acquired its rival AutoWeb, Inc. in an all-stock and warrant basis.
The company forecasted revenues for the third-quarter to soared 43% to $39 million.
For the year, the company revised revenues outlook to the range of $132 million to $134 million from the prior guidance of $128 million to $132 million but lowered earnings per share forecast between $1.17 and $1.23 from the earlier estimated range of $1.21 to $1.27 per share.
) surged 15% or $2.35 to $18 after the wireless communications provider said revenues in the second-quarter ending in August soared 18% from a year ago to $69.8 million.
Net income in the quarter jumped 7% to $3.5 million or 10 cents per diluted share compared to $3.3 million or 9 cents from the same quarter last year.
For the third-quarter, the company forecasted revenues in the range of $71 to $76 million and diluted earnings per share between 8 cents and 12 cents.
Delta Air Lines, Inc
) slumped 3% or $1.36 to $44.05 after the airline said passengers’ unit revenue in September declined 5%.
The airline also reported that it estimated an operating margin for the third-quarter in the range of 20% to 21% and unit revenues to slump between 4.5% and 5.5%.
For the quarter, Delta projected that it paid for jet fuel between $1.80 and $1.85 per gallon, 5% decrease from a year ago period.
Micron Technology, Inc
) soared 4.3% or 61 cents to $15.39 after the semiconductor devices maker reported revenues in the fourth-quarter ending on September 3 declined 7% from a year ago to $3.60 billion.
Net income in the quarter tumbled 59% to $471 million or 42 cents per diluted share compared to $1.15 billion or 96 cents from the same quarter last year.
Progress Software Corporation
) plunged 8.2% or $2.09 to $23.54 after the software company said revenues in the third-quarter ending in August surged 19% from a year ago to $94.6 million.
Net in the quarter swung to a loss of $4.1 million or 8 cents per diluted share compared to $11.1 million or 22 cents from the same quarter last year.
T-Mobile US Inc
) declined 3.1% or $1.26 to $38.87 after the communication services provider’s confirmed they lost crucial data ofabout 15 million consumers as a result of a data breach at credit reporting agency Experian.
T-Mobile said the breach was discovered on September 15 and the company was noticed about a week later.
The U.K.-based credit-reporting agency Experian Plc said the loss was the result of an unauthorized access to a server with T-Mobile customer data and ""no other clients'' data was accessed.""