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Dec 23- Jos. A. Bank Clothiers Inc has rejected a $1.5 billion takeover offer from suit retailer Men's Wearhouse Inc, frustrating attempts by its larger rival to appease shareholder hunger for a merger. Shares in Men's Wearhouse, under pressure from activist investors to merge, fell 2 percent before the bell on Monday.
Dec 23- Men's suit retailer Jos. A. Bank Clothiers Inc said its board has unanimously rejected the $1.5 billion bid by Men's Wearhouse Inc.. Men's Wearhouse offered to buy Jos. A. Bank in November, after rejecting a takeover offer from the smaller rival.
Check out which companies are making headlines after the bell Wednesday:
With the calendar careening toward Christmas retail will be top of mind next week. What will Cramer be watching?
*Third-quarter adj earnings/share $0.51 vs est $0.49. Dec 5- Men's suit retailer Jos. A. Bank Clothiers Inc said comparable-store sales rose in November, suggesting its new strategy of offering more straight discounts rather than buy-one-get-more offers was paying off.
Dec 5- Suit and tuxedo retailer Jos. A. Bank Clothiers Inc, the target of a takeover offer from bigger rival Men's Wearhouse Inc, reported a 2 percent rise in quarterly profit as new promotions boosted total sales. Men's Wearhouse last month bid $1.5 billion for the company after Jos. A. Bank withdrew an offer to buy Men's Wearhouse.
Some of the names on the move ahead of the open.
Happy Monday. Congratulations for surviving Black Friday, a dark day indeed for humanity.
The deals are aplenty after retailers ordered too much holiday merchandise back when the economy was rosier.
By starting sales on Thanksgiving rather than Black Friday, and other strategies, retailers hope to dampen the dangerous frenzy of prior years.
*U.S. stocks struggle higher but pressured. NEW YORK, Nov 26- Stocks around the globe were under pressure and the dollar slipped on Tuesday amid renewed political tensions in the East China Sea.
U.S. stocks rose Tuesday, with the Dow and S&P headed to record finishes.
A. Bank rallies after Men's Wearhouse offer. Jos. A. Bank Clothiers Inc surged 11.2 percent to $56.24 after Men's Wearhouse offered to buy the company for $55 per share in cash. Men's Wearhouse jumped 9.9 percent to $51.73.
Imagine some little company being chased around a maze by a relentless predator—say, a ghost—then gobbling up a power pellet and inhaling its enemy.
*Tiffany& Co rises after results, JA Solar falls. A. Bank rallies after on offer to buy from Men's Wearhouse. You have to tread carefully, "said Stephen Massocca, managing director at Wedbush Equity Management LLC in San Francisco.
Some of Tuesday's midday movers:
*Tiffany& Co rises after results, JA Solar falls. Wall Street has soared this year, boosted by expectations Federal Reserve stimulus will continue.
After rejecting an unsolicited bid from Jos. A. Bank, Men's Wearhouse turns the table and proposes to buy the rival menswear retailer.
U.S. stock index futures signaled a flat-to-lower open on Tuesday, ahead of housing market and consumer confidence data.
Nov 26- Men's Wearhouse Inc offered to buy fellow retailer Jos. A. Bank Clothiers Inc for $1.5 billion, less than two weeks after Jos. Men's Wearhouse offered $55 per share in cash to acquire Jos. Shares of Men's Wearhouse rose 5 percent.