Costco shares rise after better-than-expected earnings

October 2, 2016 at 3:58AM
FILE - In this Tuesday, June 30, 2015, file photo, flags fly over ConAgra Foods world headquarters in Omaha, Neb. ConAgra Foods Inc. is selling its private label operations to TreeHouse Foods Inc. for about $2.7 billion as part its plan to focus more on name brands including Chef Boyardee and Slim Jim. The deal comes one month after ConAgra said it will cut 1,500 jobs, or about 30 percent of its office-based workforce, and move its headquarters to Chicago from Omaha, Nebraska. (AP Photo/Nati Har
Profits that surpassed analysts’ expectations boosted ConAgra Foods’ stock this week. (The Minnesota Star Tribune)

Big sale: Warehouse club operator Costco Wholesale rose 3 percent, to $152.51 Friday after it reported a better-than-expected profit as it benefited from lower credit card fees and shoppers who spent more on appliances, electronics and hardware.

Thank goodness: ConAgra Foods rose 7 percent to $46.27 Thursday after its profit surpassed analysts' forecasts. The company has sold off several brands to focus on product lines like Chef Boyardee and Hebrew National. ConAgra shares finished the week at $47.11.

Cell off: Intra-Cellular Therapeutics plunged 63 percent, to $15.49 Thursday after the drug developer said an experimental schizophrenia treatment failed in a late-stage clinical trial, as the drug did not work any better than a placebo. The stock closed Friday at $15.24.

Tossing and turning: Tempur Sealy International tumbled 24 percent to $56.77 Wednesday after the company said third-quarter sales aren't meeting its expectations. It expects revenue to fall as much as 3 percent this year. Tempur Sealy shares closed the week at $56.74.

Good chemistry: Specialty chemicals maker Chemtura climbed 15 percent to $32.52 Monday after it agreed to be bought by Germany's Lanxess. Lanxess is paying a 19-percent premium. Chemtura stock closed the week at $32.81.

Fly a kite: Kite Pharma shares jumped 8 percent to $59.48 Tuesday after the company reported positive results from a study of its experimental lymphoma drug. The stock closed the week at $55.86.

news services

about the writer

about the writer

More from Business

See More
card image
Justin Mark Photography

In this newsletter: CoreWellness founder Bryant Williams, Neighborhood Development Center’s Renay Dossman, Medtronic’s Geoff Martha and Patti and Robbie Soskin mark a milestone.

card image
card image