Kellogg, the world’s largest cereal maker, increased 0.7% to $62.75. The company’s cost-saving program, known as “Project K,” will result in total, pretax charges of between $1.2 billion and $1.4 billion, the company said.
Abercrombie & Fitch Co. climbed 3.8% to $38.29. The teenager apparel retailer was boosted to buy from neutral at SunTrust Robinson Humphrey Inc.
Sysco Corp. gained 4.2% to $33.93. The distributor of food to restaurants, hospitals and schools reported profit of 49 cents a share for the fiscal first quarter, beating the average analyst estimate of 47 cents in a Bloomberg survey.
Groupon Inc. gained 7.1% to $10.63. The online-deals provider may “modestly exceed” analyst expectations for quarterly earnings, driven by growth in North America and a rebound in business from Europe, Middle East and Africa, Heath Terry, an analyst with Goldman Sachs, said in a note. Groupon is scheduled to announce results on Nov. 7.
BlackBerry tumbled 16% to $6.52 as the company attempts to recover with a management shakeup and $1 billion bond deal. Rather than acquiring the company, Fairfax will invest $250 million in the convertible bonds, according to a statement.
As part of the new agreement, Chief Executive Officer Thorsten Heins will step down. Former Sybase AG CEO John Chen will become executive chairman, putting him in charge of the company’s strategy.
DuPont Co., the biggest U.S. chemical maker by market value, retreated 1.6% to $60.11 for the biggest loss in the Dow.
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