Macy's Misses; Danaher Buys Pall Corporation For $13.8 Billion

Danaher (DHR) climbed after confirming its plans to buy Pall Corp (PLL) for a total $13.8 billion. Danaher said it plans to split into two independent publicly traded companies after the acquisition is complete. Stocks opened higher despite flat retail sales in April. Economists had expected a slight increase after a 0.9% increase in March. Macy's (M) moved lower after missing earnings and sales estimates in the first quarter. The retailer saw weaker sales as West Coast port closures impeded shipments and winter weather kept shoppers away. Delta Air Lines (DAL) gained after approving a new $5 billion share repurchase program.