Disney's earnings came in better than forecasts; Chipotle revenue missed; J.M. Smucker buying Big Heart Pet Brands in a $5.8 billion deal. Bobbi Rebell reports.
Disney earnings coming in better-than-forecasts, revenue up nine percent thanks to strong business at its theme parks and strong sales of products related to its hit movie "Frozen". CEO Bob Iger saying on CNBC that he has not been able to discern any impact on theme parks from the measles outbreak. But Chipotle Mexican Grill reporting sales decelerated missing Wall Street's estimate and weighing on its shares in after hours trading. And a big after hours deal. J.M. Smucker, which makes Folgers coffee, getting into the pet business buying privately held Big Heart Pet Brands in a deal valued at $5.8 billion. Oil prices rose for the fourth straight session, energizing stocks. Also lifting investors' spirits: hopes of a deal on Greek debt. Even shrinking orders for factory goods in December couldn't derail the rally in U.S. stocks Investors are betting on a merger between rivals Office Depot and Staples, jump-starting both stocks higher after a Wall Street Journal reports that the two office supply titans are in advanced merger talks. To the Detroit Three - GM, Ford and Fiat Chrysler - their shares rallied on strong U.S. sales in a typically slow month: January. Low gas prices and low rates fueled sales. Edmunds.com senior analyst Jessica Caldwell: SOUNDBITE: JESSICA CALDWELL, SENIOR ANALYST, EDMUNDS.COM, (ENGLISH) SAYING: "The one trend that just continues to get bigger and bigger are light trucks, and people are buying SUV's. They are buying pickup trucks. You know, those numbers from those brands just seem to keep growing." And AutoNation's stock soared to a record high after the U.S.' largest auto dealer group reported rising earnings that topped analysts' estimates. Wendy's stock shot up. The third largest burger chain in the U.S. said it'll sell about 500 restaurants to franchisees, which could raise up to $475 million. Parent McGraw-Hill Financial's shares rose after its credit rating unit, Standard & Poor's, resolved a series of lawsuits over its ratings of mortgage bonds that went sour in the runup to the 2008 financial crisis. It'll pay the government $1.4 billion. In Europe, stocks finished just below a seven year high.