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U.S. Movers: The Boeing, International Speedway, PayPal, Zebra

Author: Mukesh Buch
Last Update: 12:46 PM EDT July 05 2018

12:45 PM New York City, New York The Boeing will acquire a controlling stake in Brazil-based Embraer for $4.8 billion. International Speedway net surged. PayPal completed the sale of its consumer credit receivables business to Synchrony for $6.9 billion. Zebra agreed to acquire Xplore.

Tollbooth Index dropped 139.02 or 0.9% to 14,921.66 but for the year-to-date soared 8.4%.

Earnings Review

The Boeing Compan (BA) fell 42 cents to $332.30 after the airplanes, satellites and missiles maker said it will take control of Brazil-based plane maker Embraer SA for about $4.75 billion.

The transaction is expected to close by the end of 2019.

International Speedway Corporation (ISCA) jumped 4.7% or $2.14 to $47.49 after the motorsports events organizer said revenues in the second-quarter ending in May jumped 3.9% from a year ago to $171.7 million.

Net income in the quarter surged 26.5% to $16.7 million or 38 cents per diluted share from $13.2 million or 29 cents in the same quarter last year.

The event organizer reaffirmed fiscal 2018 revenues in the range of $680 million to $695 million and operating profit in the range of $241 million to $252 million and diluted earnings per share between $1.90 and $2.10.

PayPal Holdings, Inc (PYPL) gained 67 cents to $83.93 after the online payment services provider said that it completed the sale of its consumer credit receivables business to Synchrony Financial for about $6.9 billion.

Under the terms, of the transactions with unaffiliated third parties, Synchrony acquired $7.6 billion in receivables.

Zebra Technologies Corp (ZBRA) rose 22 cents to $148.54 after the automatic identification solutions provider today agreed to acquire all outstanding common stock of Xplore for $6 per share in cash or about $90 million.
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc