US Airways Group, Inc. (LCC) 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) 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) 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) 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) is surging 28 percent to $17.42 following the release of its fourth quarter results.
General Motors Co. (GM) 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) 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.
by RTT Staff Writer
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