Consumer companies fell as oil futures rebounded, reviving inflation fears despite a muted February report.
Consumer prices rose 2.4% from a year earlier in February, according to the Labor Department.
"Looking ahead, risks seem tilted to the upside," said economists at brokerage BNP Paribas, in a note to clients. "While a sharper slowdown in shelter remains a downside risk, the Iran-driven oil surge has yet to show up materially in U.S. consumer prices."
Campbell's shares plunged to a 23-year low after the maker of chicken soup and other staples cut its fiscal-year outlook due to weak snack demand and plans to revive sales with price cuts.
Irth Capital, a Qatari-backed investment fund, has submitted a bid in concert with Brookfield Asset Management and other investors to take pizza chain Papa John's International private. Shares of Papa John's surged.
McDonald's plans to launch new deals and discounts to keep the chain ahead of competitors in the battle for fast-food dollars.
Deutsche Lufthansa said Wednesday that more than half of scheduled flights will proceed on Thursday and Friday, despite a planned employee strike over pension and compensation disputes at the German carrier.
Activist investor Starboard Value urged CarMax's incoming chief executive officer, Keith Barr, to usher in changes and slash costs to revive the used-car retailer.
Caesars Entertainment shares rose after reports that billionaire Tilman Fertitta was in talks to buy the storied Nevada casino chain for roughly $7 billion, topping a competing offer from Carl Icahn's firm. Shares of peers such as MGM Resorts and Las Vegas Sands rose in sympathy.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-11-26 1807ET
