News Summary

Shares of American Eagle Outfitters AEO gained about 5.3% after the company reported a 4% rise in its September sales at stores open at least one year. However, analysts were expecting a decline of 0.8% in same-store sales. American Eagle has also lifted its Q3 earnings from continuing operations projection to $0.27 to $0.28 per share, up from its earlier forecast of $0.23 to $0.26 per share. According to the US Labor Department, the number of people who filed new claims for state unemployment benefits dropped to the lowest level since early July. The initial claims fell 11,000 to 445,000 in the recent week. However, economists were expecting initial claims to increase to a seasonally adjusted 455,000 in the same week. Shares of PepsiCo PEP are down about 3.2% after the company posted a rise of 12% in its third-quarter net profit. The company's Q3 net profit came in at $1.19 per share. Its core earnings in the recent quarter came in at $1.22 per share. However, analysts expected the company to post earnings at $1.21 per share. PepsiCo has also created a new Global Nutrition Group to grow in the field of fruits and vegetables, grains, dairy and functional nutrition. Read more from Benzinga's Markets.