Dish Network Corp. (DISH) shares rallied over 4.52% to $64.00 after yesterday’s announcement about be added to the S&P 500. Dish will replace Linear Technology Corp. (NASD:LLTC) in the S&P 500 effective prior to the open on Monday, March 13. S&P 500 constituent Analog Devices Inc. (NASD:ADI) is acquiring Linear Technology in a deal expected to be completed soon pending final closing conditions.
Foot Locker, Inc. (FL) shares rallied 9.38% in New York to $75.01 after reporting a strong fourth quarter. Profit came in at $1.37 a share, six cents higher than the analysts’ estimates of $1.31. Revenue rose 5.3% to $2.11 billion compared to a year ago, and was in line with the analysts’ forecasts.
L Brands (LB) shares collapse 15.81% in New York to $48.94 despite reporting a strong fourth quarter, the decline stemmed from a very tepid outlook. Profit came in at $2.03 a share, thirteen cents higher than the analysts’ estimates of $1.90. Revenue rose 2.0% to $4.49 billion compared to a year ago, and was a slight miss of the eyed $4.50 billion estimate.