Carl Icahn is backing down in his fight with Apple (AAPL). The billionaire activist investor is no longer pushing for Apple to approve a $50 billion share buyback plan saying he is pleased with the direction the company is going in its current repurchase program. Apple recently bought back $14 billion of its shares since it released a less than stellar earnings report a couple weeks ago. Apple shares finished the day up nearly 2%.
Dick's Sporting Goods (DKS) finished the day up over 1% after it raised its full-year earnings guidance to $2.68 to $2.69 a share from $2.62 to $2.65. The company also raised its fourth quarter earnings per share guidance to $1.10 to $1.11 from $1.04 to $1.07, which would beat analysts estimates of $1.06. Dick's also reported same-store sales rose 1.9 percent from a year ago.
Hasbro (HAS) shares rose nearly 5% despite a lackluster earnings report which saw the company post adjusted EPS of $1.12 missing estimates by 10 cents while revenue remained relatively flat at $1.28 billion missing estimates of $1.30 billion. Hasbro saw sales for its boys' products such as G.I. Joe and Transformers fall 16 percent, which offset its 19 percent sales growth in its girls products like Furby and My Little Pony. The company also saw sales in the U.S. and Canada fall 11 percent while international sales rose 9 percent.
McDonald's (MCD) shares fell 1% after the fast-food chain reported that global comparable sales grew 1.2 percent in January, with sales in the U.S. falling 3.3 percent but sales in Europe growing 2 percent and Asia/Pacific, Middle East and Africa up 5.4 percent. McDonald's also announced that it will be opening its first restaurant in Vietnam which will also mark the first drive-thru restaurant ever in Vietnam.