( CD) were among the
winners Friday, rising 4% after the consumer-services conglomerate agreed to sell its Travelport unit to an affiliate of the Blackstone Group for about $4.3 billion in cash.
Cendant said it will use proceeds from the sale to cut debt at its Realogy and Wyndham subsidiaries. After the sale of Travelport -- which includes online travel site Orbitz and global distribution system Galileo -- Realogy will have debt of about $750 million, while Wyndham will have debt of about $600 million. The Travelport deal is expected to close in August. Shares of Cendant were recently up 62 cents to $16.39.
rose 1% after the auto parts supplier said that it would record a restructuring charge and a one-time tax benefit in the third quarter. The after-tax charge will amount to $130 million to $140 million, or 66 cents to 71 cents a share. The tax benefits, meanwhile, will total about $135 million, or 68 cents a share. The restructuring charge relates to cost-cutting measures at Johnson Controls' interior experience and building efficiency businesses. The tax benefits are the result of a reversal of a deferred tax asset valuation allowance. The company plans to post earnings for the third quarter, which ends Friday, on July 19. Shares were trading up 60 cents to $82.08.
rose 4% after the specialty materials company lifted its second-quarter earnings and sales projections. The company now expects earnings of 69 cents to 72 cents a share, up from an earlier view of 63 cents to 67 cents a share. Three analysts polled by Thomson First Call have an average estimate for earnings of 66 cents a share. The company now sees revenue of $101 million to $103 million, up from an earlier forecast of $97 million to $100 million. The lone analyst forecast calls for revenue of $99 million.
Rogers also said it may record an asset impairment charge on its "other polymer products" reporting segment during the second quarter. "Due to recent market and customer developments, Rogers believes that the future outlook of the company's polyolefin foams and polyester-based laminates operating units has changed from previous expectations," which may trigger the asset impairment, Rogers said. Shares were up $1.99 to $54.67.
jumped 8% after the
New York Times
reported that the retailer's board will meet Friday to weigh two buyout bids valued at more than $5.8 billion. The newspaper, citing people familiar with the bidding process, said both offers are expected to be worth more than $44 a share. The arts-and-crafts seller's share recently changed hands at $41.01, up $3.01.
fell 4% after the company posted first-quarter earnings that fell a penny short of expectations and issued a second-quarter earnings guidance below forecasts. For the period ended May 31, the alcoholic beverages maker reported earnings of $86 million, or 36 cents a share, on revenue of $1.16 billion. On a comparable basis, which excludes certain items, Constellation posted earnings of $74.7 million, or 31 cents a share. Analysts expected comparable-basis earnings of 32 cents a share on revenue of $1.14 billion. A year earlier, the company posted comparable earnings of $71.2 million, or 30 cents a share, on revenue of $1.1 billion.
For the second quarter, Constellation Brands sees adjusted earnings of 42 cents to 44 cents a share. Analysts project earnings of 45 cents a share. Shares were trading down $1.12 to $25.12.
( ME) fell 1% after the oil and gas exploration company announced the resignation of its chief financial officer. Mariner said that Rick Lester, who joined the company about 21 months ago, is leaving to pursue personal interests. Lester's resignation is effective Aug. 15, though he may stay with the company during a transition period. Mariner has begun searching for Lester's replacement. The company's shares were trading down 26 cents to $18.72.
NYSE volume leaders included
, down 77 cents to $10.48;
, up $1.51 to $28.95;
, up 33 cents to $6.73;
( LU), down 1 cent to $2.44;
, down 45 cents to $36.01;
, unchanged at $33.27;
, up 40 cents to $23.64;
( NT), down 3 cents to $2.25; and
, down 24 cents to $62.13.
volume leaders included
( RSAS), up $4.36 to $27.24;
Level 3 Communications
, up 20 cents to $4.30;
, up 15 cents to $23.62;
, down 29 cents to $19.03;
, down 10 cents to $19.81; and
, up 19 cents to $14.93.