Foot Locker is considering putting itself up for sale following disappointing performance at its U.S. shoe stores and the failure to buy Genesco, the New York Post reported Thursday, sending the retailer's shares up nearly 12%.
Earnings news and clinical trial data were some of the catalysts behind the most actively traded stocks on Monday.
Finish Line said it agreed to acquire larger rival Genesco for $54.50 per share, or about $1.5 billion, in cash to enhance its footwear and apparel portfolio.
Here's our contest stock breakdown. Hubb Group was a great performer, putting our new #2, Shi Nisman in a very good position on the leaderboard. (up from 7th place). The widely helds and most actives remain pretty much the same. However, TOA, one of the widely helds, turned up on the best performing list. News of an increase in home construction helped make the difference for this stock--and for contest stock holders.
Specialty footwear retailer Genesco said Monday its board has rejected Foot Locker's unsolicited bid for the company of $46 a share, or $1.2 billion.
Foot Locker is making an unsolicited $1.2 billion cash offer for shoe, hat and accessories retailer Genesco Inc., which said Friday it will evaluate the proposal with its financial adviser Goldman Sachs.