Lower product costs, markdowns and SG&A expenses help to improve profitability at American Eagle Outfitters (NYSE:AEO). Comparable store sales are up 9 percent y-on-y with no change in the number of stores. EPS guidance for the third quarter is $0.37-$0.38 and that for the full year is $1.33-$1.36.
Anheuser-Busch InBev (NYSE:BUD) declares its intentions to have flagship brand Budweiser sponsor the Major League Baseball until 2018. The brewer also sponsors 23 of the 30 teams playing in the league.
Shares of battered phone maker Nokia (NYSE:NOK) are up following positive coverage by Bloomberg which cites the new-found success of the company’s cheap Asha feature phones in emerging countries. Bloomberg also reports that Verizon (NYSE:VZ) may sell Windows 8 phones made by Nokia to diversify out of its reliance on the iPhone (NASDAQ:AAPL) and Android (NASDAQ:GOOG).