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Chemicals company LyondellBasell Industries NV said Friday its board has approved an 11% increase in its quarterly dividend to $1.00 a share. The new dividend is payable March 12 to shareholders of record as of March 2. Shares were not yet active premarket, but have gained 19% in the last 12 months, while the S&P 500 has gained 14%.

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General Mills Inc. said Friday it’s purchasing pet foods maker Blue Buffalo Inc. for $40 a share in cash, or roughly $8 billion. General Mills said the deal will immediately add to its net sales growth and operating margin profile, and is expected to be neutral to cash per-share earnings in fiscal 2019. Shares of Blue Buffalo jumped 17% in premarket trade Friday. “The $30 billion U.S. pet food market is generating consistent 3%-4% growth and is highly attractive for retailers,” General Mills said in a statement. Blue Buffalo makes natural food and treats for dogs and cats. “The wholesome natural market represents approximately 10% of the pet food market in volume and approximately 20% in value,” said General Mills. The deal is expected to close by the end of the General Mills’s fiscal 2018.

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U.S. stock futures climbed Friday, building on gains in the prior session amid signs of an increased appetite for perceived riskier assets such as equities. Dow futures rose 160 points, or 0.7%, to 25,175, while S&P 500 futures gained 14.5 points, or 0.5%, to 2,726. Nasdaq 100 futures rose 32.50 points, or 0.5%, to 6,820.50. The Dow and S&P 500 closed higher on Thursday, inspired by upbeat labor-market data and after St. Louis Federal Reserve President James Bullard tried to cool expectations over faster-than-expected interest rates. The Nasdaq Composite logged a small loss. The Japanese yen, a haven currency that investors seek out in times of volatility or economic uncertainty, fell against the dollar on Friday. Gold prices slipped modestly. Asian stock indexes were also largely higher on Friday.

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The head of a federal commission that oversees election security is being removed, according to a Reuters report Thursday. It was unclear why the four-year term of U.S. Election Assistance Commission chairman Matthew Masterson, which expired in December, is not being renewed. Masterson has been praised for his cybersecurity expertise and his ongoing efforts to prevent U.S. voting machines from being hacked. While some Democratic lawmakers criticized the move as a partisan play, a spokesperson for House Speaker Paul Ryan, R-Wisc., who will pick Masterson’s replacement, told Reuters the change is routine.

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Remax Holdings Inc. shares rose in the extended session Thursday after the real-estate brokerage franchiser released preliminary results for the fourth quarter and third quarter results that had been delayed. Remax shares rose 6% after hours. Remax reported fourth-quarter adjusted earnings of 47 cents a share on revenue of $49.5 million. Analysts surveyed by FactSet forecast 46 cents a share on revenue of $48.5 million. The company also said an internal investigation did not find any executive wrongdoing. Back in November, Remax delayed releasing third-quarter results amid allegations that financial dealings of senior executives had violated internal rules. Remax reported third-quarter adjusted earnings of 46 cents a share on revenue of $49.4 million. Analysts had estimated 51 cents a share on revenue of $50.5 million. Remax estimates revenue of $49.5 million to $51 million for the first quarter, and $205.5 million to $209 million for the year. Analysts expect revenue of $52 million for the first quarter, and $212.9 million for the year.

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Exact Sciences Corp. shares fell in the extended session Thursday even after the cancer diagnostics company’s results topped Wall Street estimates. Exact Sciences shares fell 9% after hours. The company reported a fourth-quarter loss of $21.8 million, or 18 cents a share, compared with a loss of $37.2 million, or 34 cents a share, in the year-ago period. Revenue rose to $87.4 million from $35.2 million in the year-ago period. Analysts surveyed by FactSet had estimated a loss of 23 cents a share on revenue of $86.7 million. For the year, Exact Sciences estimated revenue of $420 million to $430 million. Analysts expect revenue of $423.4 million.

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Trade Desk Inc. shares shot up in the extended session Thursday after better-than-expected 2018 guidance and adjusted earnings beat analyst models. Trade Desk shares rose 12.6% after hours. The company reported fourth-quarter net income of $16.8 million, or 38 cents a share, compared with $10.3 million, or 24 cents a share, in the year-ago period. Adjusted earnings were 55 cents a share. Revenue rose to $102.6 million from $72.4 million in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 44 cents a share on revenue of $101.7 million. For the first quarter, analysts model adjusted earnings of 10 cents a share on sales of $64.4 million. The company said it expected first-quarter sales of $73 million and full-year sales of “at least” $403 million; analysts modeled full-year sales of $391.3 million. Trade Desk stock has gained 41% in the past year, with the S&P 500 index rising 14%.

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Universal Display Corp. shares took a nose dive in the extended session Thursday after the company missed Wall Street’s earnings expectations. The display maker’s shares fell more than 10% after hours. The company reported fourth-quarter net income of $32.8 million, or 69 cents a share, compared with $25.8 million, or 55 cents a share, in the year-ago period. Adjusted earnings were 93 cents a share. Revenue grew to $115.9 million from $74.6 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 85 cents a share on revenue of $100 million. Universal Display also raised its quarterly dividend to 6 cents a share from 3 cents a share. For the first quarter, analysts model earnings of 29 cents a share on sales of $64.8 million. The company said it expects full-year 2018 revenue of $350 million to $380 million; analysts had expected $398.2 million. Universal Display stock has gained 117% in the past year, with the S&P 500 index rising 14%.

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Xcerra Corp. called off its acquisition by a Chinese entity Thursday afternoon, the latest attempt at a Chinese purchase of a U.S. chip company to be scuttled amid resistance from the U.S. federal government. Xcerra said it and Hubei Xinyan Equity Investment Partnership had mutually agreed to call off the merger after deciding it would not be cleared by the Committee on Foreign Investment in the United States, or CFIUS. “Our transaction with Xinyan was about enabling Xcerra to accelerate its growth in the China market as well as broadening and strengthening our customer relationships around the world,” Xcerra Chief Executive Dave Tacelli said in Thursday’s announcement. “While we are disappointed that we were not able to receive approval from CFIUS on this transaction, Xcerra and Xinyan are discussing alternatives to pursue opportunities in new and existing markets in China.” Xcerra, which makes equipment used in testing chips during the manufacturing process, is just the latest small chip company to try and fail to be acquired by a Chinese company amid the nation’s thirst for chip knowledge and intellectual property. A deal for Lattice Semiconductor Corp. was scuttled by the CFIUS under President Donald Trump, which seemed to signal that such deals would not get approval; Xcerra’s failure to complete a deal could show that even companies that don’t actually make chips will have trouble obtaining approval. Xinyan had agreed last April to purchase the company for $10.25 a share, and the stock closed at $9.70 Thursday. Xcerra shares were halted in late trading Thursday before the announcement, and fell about 5% once after-hours trading resumed.

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From:: Stock Market News