) confirmed it reached a deal to sell its education business to Apollo Global Management
) for $2.5 billion. McGraw-Hill, which said it will be renamed McGraw Hill Financial after the sale closes, saw its shares rise about 2% after trading resumed following the deal announcement.
A number of major retailers, including Wal-Mart
) and Macy's
), traded lower despite estimates from the National Retail Federation that consumer spending over the Thanksgiving weekend increased 13% from a year ago.
Two tech names benefited from some positive analyst commentary as Facebook
) shares rose nearly 8% after Bernstein upgraded the stock to "outperform" and BTIG raised its rating on the name to "neutral."
Also, Yahoo (YHOO
) was upgraded to "conviction buy" from "buy" at Goldman and shares responded by advancing about 1%.
Among the notable gainers were Anadigics
), up 17% following an upgrade to "buy" at Needham, and Zhongpin
), up 15% after agreeing to "go private" for a $13.50 per share. Among the noteworthy losers was Aeropostale
), which slid almost 7% following a downgrade to "neutral" at Janney Capital.
Also lower were shares of DreamWorks
), down over 5% after the stock was downgraded at Caris and Goldman said its estimates could be at risk due to the box office under-performance of "Rise of the Guardians."