U.S. stocks closed mixed Monday as the Dow Jones Industrial
Average added 26 points to 16504, the S&P 500 shed less than a
point to 1841, and the Nasdaq Composite fell 11 points to 4157.
Among the stocks actively trading after hours is Hertz Global
Holdings Inc. (HTZ).
Hertz has enacted a one-year shareholder-rights plan with a 10%
trigger to prevent investors from gaining sizable control of the
rental-car firm, a move the company attributed to "unusual and
substantial" trading activity. Shares rose 3.4% to $26.78 after
hours.
Other Stocks To Watch:
Cooper Tire & Rubber Co. (CTB, $24.20, +$1.24, +5.40%) on
Monday terminated its $2.2 billion merger agreement with Indian
suitor Apollo Tyres Ltd., bringing an end to a deal that had
unraveled in recent months.
Cracker Barrel Old Country Store Inc. (CBRL, $110.20, -$1.06,
-0.95%) on Monday rejected activist investor Sardar Biglari's call
to begin a process to sell the restaurant and store chain operator.
Instead, Cracker Barrel said it believes continuing with its
current business plan is best for the company and its
shareholders.
Crocs Inc. (CROX, $16.14, +$2.81, +21.08%) said Blackstone Group
LP (BX, $31.29, -$0.06, -0.19%) is pumping $200 million into the
footwear company in the form of a preferred stock investment,
giving the private-equity firm a 13% ownership stake in Crocs and
two seats on its board. Crocs plans to use the funds towards a $350
million stock repurchase. Meanwhile, Chief Executive John McCarvel
plans to retire by late April.
ITT Educational Services Inc. (ESI, $33.27, -$1.62, -4.64%)
disclosed Friday that it received further notice from the Consumer
Financial Protection Bureau regarding its intent to prosecute the
for-profit education company for lending violations, noted Wells
Fargo. The firm maintained its outperform rating on shares, though
noted that the disclosure increases the likelihood of prosecution
and could upset the stock.
Vanguard Natural Resources LLC (VNR, $29.32, +$0.36, +1.23%)
agreed to purchase natural gas and oil properties in southwestern
Wyoming for $581 million, significantly increasing its reserves and
production.
Guggenheim upgraded Walt Disney Co. (DIS, $76.23, +$1.88,
+2.53%) to buy from neutral, saying that enthusiasm for the
company's upcoming "catalysts" such as Marvel, Pixar and Star Wars
films and products, has grown earlier than anticipated and the firm
"sees no reason it will slow."
Write to Anna Prior at anna.prior@wsj.com
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