Shares of industrial and transportation companies rose amid deal activity.

Can and aerosol maker Sonoco Products said it is buying Eviosys from KPS Capital Partners for around $3.9 billion on a cash-free, debt-free basis, and that it intends to divest its ThermoSafe business as well as other businesses.

FedEx shares rose ahead of its earnings, a report that will draw scrutiny because of the freight giant's role as an economic bellwether, according to one strategist. "I think it's a measurement of business activity in general," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.

United Parcel Service agreed to sell its freight brokerage to rival RXO for $1.025 billion, taking a loss on the unit it bought for $1.8 billion from Coyote Logistics.

The Texas Manufacturing Outlook Survey rose to minus-15.1 in June from minus-19.4 in May, although the data still reflected expectations for slowing activity.

General Motors' lending arm has pulled an application for deposit insurance, a pillar in its efforts to move back into banking and expand its auto-finance business.

European aerospace giant Airbus warned it would not be meeting its annual targets for the year, including the number of commercial aircraft it planned to deliver.

Write to Rob Curran at

(END) Dow Jones Newswires

06-24-24 1740ET