Stocks to Watch: KCP, MTN, BAC & More
Take a look at some of Wednesday's midday movers:
Kenneth Cole Productions moved higher after fashion designer Kenneth Cole offered to take the company private, buying the rest of the company he already doesn’t own for $15.25 a share or about $245 million. The board approved the offer after rejecting his earlier bid of $15 a share.
Vail Resorts also higher after it reported its third quarter earnings rose 4 percent. While its revenues dipped it still came in higher than wall street estimates
Banks one of the big winners in the session. Bank of America enjoying its best day since last October. Goldman Sachs,JP Morgan,Citigoup, and Wells Fargo also rose.
Morgan Stanley rose after CNBC’s Kate Kelly reported that the company is considering selling a stake in its commodities unit.
Gold stocks also moved higher, reflecting the rise in gold prices. Goldcorp, FreeportMcMoran, and SPDR Gold shares all rallied.
That is too late for the CEO of Barrick Gold. The company ousted its President and CEO, Aaron Regent, citing its disappointing stock performance. The stock is down 16 percent over the last six months. Regent is being replaced by Chief Financial Officer Jamie Sokalsky.
Barnes and Noble fell after news that billionaire investor Ron Burkle divested most of his stake in the company, leaving him with 0.9 percent. He previously owned 19.7 percent.
Groupon jumped after Stifel Nicolaus upgraded the stock to "hold," citing potential growth areas, such as pushing into direct e-commerce.
Homebuilders on the rise after Credit Suisse upgraded Ryland and Pulte. The firm said investors need to take advantage of the recent dip in shares, noting its recent survey of real estate agents points to continued strength in home prices. Lennar,Toll Brothers, and DR Horton also moved higher.