Jack in the Box (JACK) shares are 3% higher after it agreed to sell its struggling fast-casual chain Qdoba. The restaurant will be bought by Apollo Global Management for $305 million in cash.
Shares of Cars.com (CARS) are up 3% on a Wall Street Journal report that activist investor Starboard Value bought a 9.9% stake in the company. Starboard believes the stock is undervalued and the market is ignoring the potential for a sale.
Apple‘s (AAPL) stock got a rare downgrade to neutral. Analysts at Nomura believe the stock’s gains for the iPhone X supercycle as well as other positives for the tech giant are already in factored into the price.
Darden Restaurants (DRI), parent of the Olive Garden and LongHorn Steakhouse, posted a beat on both earnings and revenue, thanks in part to positive traffic and pricing. The restaurant owner also raised its full-year 2018 guidance.
McDermott (MDR) shares are sinking after it agreed to merge with Chicago Bridge and Iron (CBI) in an all-stock deal. The merger would create a construction and engineering services provider with an estimated value of $6 billion.
Navistar International (NAV) reported earnings and revenue above Wall Street expectations and raised outlook for the 2018 guidance. Analysts are positive on the truck maker’s operating leverage and inventory reduction for used equipment.