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Shares Ford Motor Co. slumped 1.3% in premarket trade Wednesday, after the automaker said total vehicle sales in May fell 5.9% from a year ago, as a 25% plunge in car sales offset a 8.9% jump in truck sales. All Ford-branded cars suffered sales declines, led by the 37.4% tumble in Taurus sales, and the 34.8% drop in Fiesta sales. Within Ford-branded trucks, F-Series sales increased 9.0% and Transit sales climbed 16.4%, while E-Series sales fell 8.7%. Lincoln-brand vehicle sales increased 6.9%, as 16.0% growth in sales of utilities vehicles offset a 5.3% decline in car sales. The stock has lost 4.3% year to date through Tuesday, while the S&P 500 has gained 2.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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J.C. Penney Co. Inc. said Wednesday it’s proposing to refinance a $2.25 billion senior secured term loan. The retailer also plans to extend the maturity of the loan, which is currently set at May 2018. The transaction is expected to be complete in June. The company also reported positive same-store sales quarter-to-date through Memorial Day. J.C. Penney stock is up 1.2% in premarket trading.

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Shares of Cracker Barrel Old Country Store Inc. surged 2.9% in premarket trade Wednesday, after the family restaurant and retail chain announced a special dividend and beat profit expectations, offsetting a sales miss. The company will pay a special dividend of $3.25 a share on July 29 to shareholders of record on July 15. The quarterly dividend was raised by 4.5% to $1.15 a share. Earnings for the quarter ended April 29 rose to $49.2 million, or $2.04 a share, from $35.3 million, or $1.47 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to $1.82, above the FactSet consensus of $1.80. Revenue rose 2% to $700.1 million, but missed the FactSet consensus of $705.7 million. Comparable-store restaurant sales increased 2.3%, below expectations of 2.8% growth, while the same-store retail sales increase of 2.2% missed expectations of 2.3%. For the full fiscal year, the company raised its EPS outlook to $7.45 to $7.55 from $7.40 to $7.50. Revenue is expected to be $2.90 billion to $2.95 billion. The FactSet consensus is for fiscal 2016 EPS of $7.53 and revenue of $2.92 billion. The stock has soared 19% year to date through Tuesday, while the S&P 500 has gained 2.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Accessories maker Vera Bradley Inc. said Wednesday it had net income of $2.4 million, or 6 cents a share, in its fiscal first quarter, after a loss of $4.1 million, or 10 cents a share, in the year-earlier period. The loss was due to charges related to the closure of an Indiana manufacturing facility, restructuring and severance and a tax adjustment. Revenue rose to $105.2 million from $101.1 million. The FactSet consensus was for EPS of 5 cents and sales of $107 million. “Our year-over-year improvement in diluted EPS was primarily related to our 220 basis point gross profit expansion, largely driven by sourcing and operational efficiencies and an increased sales penetration of higher-margin made-for-outlet (MFO) products,” Chief Executive Robert Wallstrom said in a statement. The company is aiming to complete a brand transformation in 2017, and to begin exploring international expansion, he said. It is now expecting second-quarter EPS of 13 cents to 15 cents on revenue of $118 million to $123 million. The FactSet consensus is for EPS of 18 cents and revenue of $123 million. Shares were slightly lower in premarket trade, and are down 2.8% in the year so far, while the S&P 500 has gained 2.6%.

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Salesforce.com Inc. announced Wednesday a deal to buy enterprise cloud commerce company Demandware Inc. in a cash deal valued at $2.8 billion. As part of the deal, Salesforce will launch a tender offer for $75 a share for each Demandware share outstanding, which represents a 56% premium to Tuesday’s closing price. Demandware’s stock rocketed 56% in premarket trade, while Salesforce shares slipped 1.4%. The deal, expected to close in the second quarter of fiscal 2017, which ends this July, is expected to add $100 million to $120 million to fiscal 2017 revenue, but reduce adjusted earnings per share by 7 cents. Salesforce said it now expects fiscal second-quarter adjusted EPS of 21 cents to 22 cents and revenue of $2.01 billion to $2.03 billion. The FactSet consensus is for EPS of 25 cents and revenue of $2.01 billion.

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A French ship has picked up underwater signals believed to have come from EgyptAir Flight 804’s black boxes, Egypt’s Civil Aviation minsitry said on Wednesday, according to media reports. The black boxes contain vital information that could help explain why the jet crashed in the Mediterranean Sea en route from Paris to Cairo on May 19. Wreckage from the plane was last week sent to a criminal forensic lab for technical analysis, amid indications the aircraft may have broken apart mid-air.

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Michael Kors Holdings Ltd. shares surged 10% in premarket trade, after the company reported better-than-expected profit and revenue for its fiscal fourth quarter. The company said Wednesday it had net income of $177 million, or 98 cents a share, in the quarter, compared with $182.6 million, or 90 cents a share, in the year-earlier period. Revenue rose to $1.2 billion from $1.1 billion. The FactSet consensus was for EPS of 97 cents and revenue of $1.1 billion. Same-store sales rose 0.3%, also ahead of the FactSet consensus of 0.2%. “Looking ahead, we see multiple growth opportunities, including the expansion of our international markets, the growth of our digital e-commerce flagships, the build-out of our men’s business, the launch of Michael Kors ACCESS wearable technology line, and the continued design innovation of our luxury fashion product,” Chief Executive John Idol said in a statement. The company is now expecting first-quarter EPS of 62 cents to 66 cents, and adjusted EPS of 70 cents to 74 cents. The current FactSet consensus is for first-quarter EPS of 93 cents. Shares have gained 6.6% in the year to date, while the S&P 500 has gained 2.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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