Gainers:
US Airways Group, Inc. (LCC: Quote) is rising nearly 3 percent to $15.08. The boards of AMR Corp.(AAMRQ.PK), the parent company of American Airlines Inc., and US Airways have unanimously approved a definitive merger agreement. The combined company will be operating under the American Airlines name, which will have an implied combined equity value of about $11 billion.
PepsiCo, Inc. (PEP: Quote) is rising 2 percent to $73.00. The company's fourth quarter profit improved from the prior year period and its core earnings per share were above Wall Street view. Net revenues declined from the year-ago quarter, but managed to surpass the consensus estimate. For 2013, the company expects 7 percent core constant currency earnings per share growth. The company also announced a new share repurchase program of up to $10 billion of common stock from July 1, 2013 through June 30, 2016.
H. J. Heinz Company (HNZ: Quote) is jumping 20 percent to $72.65 based on the news that the company has agreed to be acquired by Berkshire Hathaway (BRKa) and 3G Capital.
DIRECTV (DTV: Quote) is gaining over 2 percent to $53.00. The company's fourth quarter profit improved from the year-ago quarter and were above Wall Street view. Revenues increased 8 percent principally due to subscriber growth at Directv Latin America and Directv U.S., as well as higher ARPU at Directv U.S. The company also announced a new $4 billion Stock repurchase program.
Angie's List, Inc. (ANGI: Quote) is surging 28 percent to $17.42 following the release of its fourth quarter results.
Decliners:
General Motors Co. (GM: Quote) is falling 0.24 percent to $28.60. The company's fourth quarter earnings improved from the year-ago quarter. Quarterly net revenue improved 3 percent. The company said it expects no mandatory contributions to U.S. defined benefit pension plans for at least five years, under current economic conditions.
Shire plc (SHPG: Quote) is down 4 percent to $96.30. The company's fourth quarter profit plunged from the year-ago quarter. Operating income was down 74 percent, primarily due to charges to impair intangible assets relating to RESOLOR in the EU and higher legal and litigation costs.
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by RTT Staff Writer
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