Alaska Air Group (NYSE:ALK) glided nearly 4% higher after the carrier posted a 4.7% lift in revenue for the first quarter early Monday. The company’s earnings of US$0.14 per share beat Wall Street estimates by US$0.03, while revenue landed at US$1.8bln vs. US$1.5bln a year earlier, in line with consensus estimates.
Sears Holdings Corp (NASDAQ:SHLD) shares jumped nearly 6% after its largest shareholder, hedge fund ESL Investments Inc, offered to buy the beleaguered chain store’s Kenmore brand of appliances. CEO Eddie Lampert, who also runs ESL, made the offer to break up the venerable-but-troubled chain.
Under Armour Inc (NYSE:UA) saw its shares pole vault more than 4% after an upgrade to Hold from Sell by Deutsche Bank analyst Paul Trussell, who also lifted the sporting goods maker’s price target to $16 from $13.
Alcoa Corp (NYSE:AA) shares cratered by about 14% after the US government softened restrictions on the world’s second-largest aluminum producer, Russia-based Rusal. The news sent aluminum prices 8% lower as well.