Stocks powered higher on Tuesday. The Dow closed at a record high, 22,830.68, while the Nasdaq and the S&P 500 also closed in the green.
Shares of Procter & Gamble Co. (PG) fell slightly after CEO David Taylor said that shareholders had re-elected all incumbent directors. But activist investor Nelson Peltz said the results are "too close to call." Procter & Gamble and Peltz' Trian Partners have collectively spent more than an estimated $100 million on mailings, phone calls and advertisements to woo investors, according to Reuters. It could take days to certify the final vote tally.
American Airlines Group Inc. (AAL) stock increased more than 4.5% after raising its third-quarter growth forecasts. The airline anticipates total revenue per available seat mile to climb by 0.5% to 1.5%, up from its previous target of flat to 1% higher. Capacity is expected to climb to 64.6 billion available seat miles, higher than 63.5 billion in the second quarter.
Express Scripts (ESRX) was down about 1.8% after agreeing to purchase medical benefit management company eviCore healthcare for $3.6 billion. Express expects the deal to close in the fourth quarter.
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