Q: On Fast Money’s trader radar we look at the stock that was lighting up screens across Wall Street. In 1929, a New York Times headline read “Abraham & Straus and Filene’s To Unite,” and this company was born. Today, the company operates the second-largest department store chain in the U.S., as well as up-scale Bloomingdale’s. However, shares got a bit of a discount today, as retailers fell on fears of further economic woes. Who is it?
This could be the greatest comeback in corporate history: a formerly bankdrupt company that has seen customers, revenues, and profits all growing at double digits—and a stock that could soon go public through an unusual method.
Q: On Fast Money’s trader radar we look at the stock that was lighting up screens across Wall Street. This clothing company was spun off from W.R. Grace & Co in 1970, and has since launched many successful brands including the Lauren by Ralph Lauren line. The retailer even acquired Barney’s New York department store a few years back, selling it for over twice what it had paid. Today the struggling owner of Nine West shoes got the lift it needed after reducing a line of credit, sending shares soaring. Who is it?
My colleague Dave Harder and I have been watching a number of charts for clues to tell us if the Federal Reserve’s policies of quantitative easing and the lowering of interest rates to zero are finding their way into the economy—and what these clues might be telling us about equity prices going forward.
There is one word to describe the general atmosphere on Monday: Terrified. Investors are terrified. Traders who are not nimble at day trading and scalping are terrified.
Shares of General Growth Properties fell 73 percent on Tuesday after the second-largest U.S. mall owner expressed doubts that it could continue operating due to its looming near-term debt.