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) shares advanced nearly 6% and lifted the Dow Jones Industrial Average after its earnings and revenue beat expectations.
The company also increased its quarterly dividend by 34% and announced authorization to repurchase up to $17 billion of its outstanding shares.
Two other retailers reported better than expected quarterly results, but their stocks moved in opposite directions. Shares of Macy's
) advanced 3% after its earnings and guidance beat forecasts, but Saks
) shares declined fractionally following a quarterly report that also beat consensus.
) announced it filed an antitrust lawsuit against Viacom
), alleging the content provider illegally forced it to carry and pay for lesser-watched networks in order to carry must-have channels like Nickelodeon, MTV and Comedy Central.
Among the notable gainers was CommonWealth REIT
), which surged about 30% after Corvex Management and Related Fund Management said they obtained a 9.8% stake in the REIT, demanded it cease a debt repurchase initiative, and said that they would be willing to acquire all of CommonWealth's shares at a significant premium to their market value as of yesterday.
Also higher were shares of Assisted Living Concepts
), which rose over 22% after the company agreed to be acquired by TPG for $12.00 per Class A share.
Among the noteworthy losers following their earnings reports were Vitamin Shoppe
), which fell 19%, and Titan International
), which slid about 16%. Also lower were shares of AMC Networks
), which declined 6% after it reported quarterly results, including cash flow, that was negatively impacted by its fight with Dish Networks