Among the early movers the Yahoo Finance team will be watching for you today: Joseph A. Bank (JOSB). The men's clothing retailer has agreed to acquire the Eddie Bauer clothing brand for $825 million in cash and stock. This is just adding more fuel to the fire in Jos. A Bank's months long takeover battle with Men's Wearhouse. The deal is expected to immediately add to Jos. A Bank's earnings and the company said it now expects 2014 revenue to exceed $2.1 billion.
Kraft Foods (KRFT) reported earnings after the bell yesterday that beat estimates by $0.93. Revenue grew 2.3% from the previous year though missed Wall Street estimates slightly. Kraft's profits were boosted in part by cost-cutting.
AIG (AIG) beat earnings estimates by $0.19 while revenue grew 3% and beat estimates as well. The company said it will raise its dividend by 25%. AIG also said it will be cutting its global workforce by 3%. AIG's board approved an additional $1 billion share repurchase plan that will bring the total repurchase commitment to $1.4 billion.
It was good news bad news for Tesla (TSLA). The company confirmed reports that another Tesla Model S sedan caught fire earlier this month in Toronto. No one was hurt, but the company said it does not yet know the precise cause. This is the fifth Model S fire in five months. The news came as the electric carmaker saw shares end at an all-time high yesterday, briefly passing the $200 mark before closing just off those levels. Shares of Tesla have surged 33% so far this year.
And Weight Watchers (WTW) shares were battered in extended trading, down more than 20% after company missed earnings estimates and warned full-year profits be more than a dollar per share below what Wall Street was expecting. The company has been struggling to keep paying members as it competes with free smartphone apps and gadgets that track calories.
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