McDonald’s and Target – two stocks that surged Thursday – are both held by Wall Street Whale and activist investor Bill Ackman. Does he have the Midas touch, or are the moves merely coincidental?
Stocks closed higher as investors were encouraged by solid economic data and positive signals from the credit markets. "The market is getting some encouragement from some calming down on the credit market side," said Todd Clark, head of trading at Nollenberger Capital Partners. "You see that the long bond is down about a point which shows a little less fear."
Stock prices are shifting into high gear as a GM upgrade and a dividend boost from McDonald's helps sentiment. The dollar is firming slightly and oil trades near record levels. Europe's stock markets turned higher after early losses, and Asian markets were mostly higher overnight.
Retailer Target said on Wednesday it would review options, including a possible sale for its credit-card receivables, and it would also evaluate its use of debt and the pace of stock buybacks.
Ceridian said Saturday it resolved a proxy battle with its largest shareholder, Pershing Square Capital Management, clearing the way for the payroll processing company to be acquired for about $5.2 billion.
Treasury debt prices dipped Thursday, as reports of a stronger-than-expected U.S. service sector and job market reduced expectations for a deep cut in official interest rates.
While the kids are just starting school, the retailers are about to get their report cards. Thursday we learn from Target (TGT) and Wal-Mart (WMT) whether parents loaded up on backpacks, jeans and cell phones for the kids. So what’s the trade ahead of the numbers?
In this special segment, the masters of Wall Street go face to face with some of the best business school students in the country. Students from Harvard, Yale, Columbia and Wharton are bringing their A-game via the webcam.
Stocks ended higher at the end of a quiet week of trading, as investors were encouraged by further moves by the Federal Reserve and a vote of confidence for the nation's largest mortgage lender. The Dow Jones Industrial Average posted a weekly gain of 1.8%, the S&P 500 rose 1.7% and the Nasdaq Composite advanced 2.1%.
Subprime-battered mortgage lenders are shutting down, fewer homes are being built, and even some of the big U.S. retailers are planning conservatively for Christmas holiday sales.
It's a continual worry in the markets: Will the consumer continue to spend? The answer so far seems to be "yes." But cracks are appearing as Americans wrestle with high debt, tightening credit, inflation and a worsening housing slump. That's led to speculation that consumers may become tapped out enough to push the economy into a recession.
U.S. retailers are still sweating through the back-to-school shopping season, but an early chill has already crept into their prospects for the all-important holiday season.
U.S. stocks ended mixed as the investors looked for signs that the Federal Reserve may cut interest rates again soon. "I think it's encouraging that we are kind of stabilizing after last week's turmoil," said Alec Young, equity market strategist at Standard & Poor's.
Several retailers posted improved quarterly earnings on Tuesday, but many remained cautious about the rest of the year.Retail stocks were mixed in reaction, with shares of upscale retailers such as Saks trading lower, while club stores such as BJ Wholesale Club gained ground. Both were among those reporting results Tuesday.
It is the biggest launch in Kohl's history but the company does not want to discuss it. That was what Kohl's press person told me when I phoned to ask if there were any events planned around the September 9th launch of their first major guest designer clothing line. With the massive launch of the Vera Wang designed "Simply Vera" collection, you would expect that Kohl's would be backing up their bet on Vera with a media onslaught. But that's not the case.
Stocks are finding their feet on higher ground this morning as a positive tone embraces equities markets worldwide. Oil continues to back down from the new high struck earlier this week.
Like a power saw in overdrive, stocks will again cut a pattern of high velocity moves higher and lower in the coming week as investors look to see whether the Fed will hold out a hand to soothe the credit angst in financial markets. Don't look for any move on rates, but there could be some adjustment of the language in the Fed's comments after it meets Tuesday