Kellogg (K) reported earnings at the top of the hour. The cereal maker made 90-cents a share on an adjusted basis. That was a penny better than expected. Revenues were basically in line with estimates at $3.7-billion. Kellogg has been trying to think out of the box, most recently with the purchase of Pringles. That expanded the company's snack portfolio, which also includes Cheez-its and Keebler. Kellogg is up fractionally on this report. The stock is up 9% so far this year.
Tenet Healhcare (THC) reports after the closing bell. Tenet is expected to post profits of 45-cents a share up from 28-cents a year ago on revenue that's climbed to nearly $2.4-billion. These numbers reflect Tenet's recently-completed purchase of Vanguard Health Systems. Shares of Tenet are up 41% year-to-date. They're actually up twice that amount over the past year.
Tri Pointe Homes (TPH) is planning a large addition. The California-based upstart has announced plans this morning to buy the home-building division of timber giant Weyerhauser. The deal is valued at $2.7-billion and it vaults Tri Pointe into the nation's top-20 homebuilders. Tri Pointe goes into this morning's regular session down 19% year-to-date. As for Weyerhaeuser it's up a modest 4% in the same time.
The Container Store (TCS) had an incredible market debut on Friday, doubling in price. But doing nearly as well was Qunar: the travel unit of China's online search giant Baidu (BIDU). Shares were up 89% in their first day trading here on the Nasdaq. Some trivia for you. Qunar means ""where to go"" in Mandarin. The company actually lost $2.8-billion in the first half of the year. But its business has been expanding rapidly, especially in the shift to mobile.
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