Market Overview

4 Stocks Reeling On Retail News

Share:
4 Stocks Reeling On Retail News
Related DDS
64 Biggest Movers From Yesterday
45 Stocks Moving In Thursday's Mid-Day Session
Stocks To Watch: Paint It Black (Seeking Alpha)
Related JWN
48 Stocks Moving In Friday's Mid-Day Session
Analysts Take Rain Check On Nordstrom After 'Eh' Q3 Report
Even Jim Cramer Knows More Than The Fed (TalkMarkets)

If you’re just catching up on the morning buzz, here’s what we know: Nordstrom, Inc. (NYSE: JWN) is staying public, and Sears Holdings Corp (NASDAQ: SHLD) lost its chairman.

Nordstrom announced that core family members suspended exploration of a take-private deal through the end of the holiday season. The family will resume consideration of any board proposals at that time.

Review of a take-private strategy was first reported in June, and as of September, analysts considered the move likely but not necessarily of value to shareholders.

At the same time, Sears reported the impending resignation of its board chairman in an early 8-K. Bruce Berkowitz is the chief investment officer of Fairholme Capital Management and had once been called the U.S. stock fund manager of the decade.

“I wish the company and its associates all the best as Sears Holdings continues to execute on its strategic priorities," Berkowitz said in a press release.

Sears fell 12.4 percent on its news, while Nordstrom dropped 6 percent.

Macy’s Inc (NYSE: M) and Dillard’s, Inc. (NYSE: DDS) also declined a respective 2.9 percent and 3.6 percent in sympathy.

Related Links:

Nordstrom Remains A Bright Spot In A Dismal Quarter For Retail

Sears Goes To Amazon In Search Of A Lifeline

Posted-In: Bruce Berkowitz Fairholme CapitalNews Management Movers Trading Ideas Best of Benzinga

 

Related Articles (DDS + JWN)

View Comments and Join the Discussion!

KeyBanc: Despegar Is Latin America's Underappreciated Online Travel Agent

Facebook Targeting 1 Billion Users For New VR Headset