Author: admin

Macy’s Inc. said Monday that it has hired Douglas Sesler as executive vice president for real estate, starting tomorrow. He will lead initiatives such as creating joint ventures and other partnerships involving the retailer’s flagships and mall-based locations, working closely with Macy’s banking advisors and other executives. Sesler was most recently president of True Square Capital LLC, a real estate investment and advisory firm. The appointment comes just a couple of weeks after William Lenehan, an expert in real estate trusts, was appointed to the company’s board. Macy’s has faced pressure from investors, including activist investor Starboard Value, to drive greater value from its real-estate holdings. Macy’s has said it won’t spin off a real estate investment trust (REIT) but would seek out partnerships. Macy’s shares are down 1.2% in Monday trading, and down 37.4% for the past year. However, shares have climbed 21.4% for the year so far. The S&P 500 is up 1.1% for the year to date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Shares of medical-device marker Edwards Lifesciences soared Monday, hitting an all-time high after positive results from testing of a device used for open-heart surgery. Over the weekend, the Irvine, Calif., company said transcatheter aortic-valve replacements using its “Sapien 3” valve produced better outcomes, including lower mortality rates and fewer strokes. The data were followed by a string of upgrades from Wall Street firms on Monday, including BTIG, which upgraded Edwards Lifesciences Corp. to buy from neutral. J.P. Morgan Chase also raised its price target for the company to $110 from $98, and said the company has “ample room for upside.” On Monday, Edwards Lifesciences set an all-time high of $104.94. Since hitting a 2016 low on Feb. 9, the company’s shares have soared nearly 16% compared with 11.2%, 10% for the S&P 500 and 14.1% for the Nasdaq Composite .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Dunkin Brands Group Inc. said Monday that it has entered into development agreements with four franchise groups, which will result in 29 new Dunkin’ Donuts restaurants in California over the next few years. The restaurants will be spread around the state with the most, 12, opening in the San Francisco Bay area, through a deal with Golden Gate Restaurant Group. The first will open in 2016. Ten restaurants will open in Chico, Redding, Yreka and Eureka through a partnership with Far North Ventures. Dunkin’ Donuts has opened 25 restaurants in California over the past few years, and plans to open 1,000 more in the state over the long term. Dunkin’ Donuts shares are down 0.1% in Monday trading, but up 12.5% for the year so far. The S&P 500 is up 1.3% for the year to date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Gap Inc. shares are up 1.9% at the open after it was upgraded to overweight from sector weight at KeyBanc Capital Markets on optimism about the namesake brand’s new product and a shift in promotion strategy. The price target is $36. Gap shares are trading at nearly $30 per share. KeyBanc analysts say Gap’s new merchandise “more closely hews to Gap’s American casual aesthetic” with analysts noting a more colorful selection that brings the company back to its “American roots” as well as improved fit and quality. In addition, KeyBanc analysts spotted items that were excluded from promotions on recent channel checks. The bank acknowledges near-term challenges, but says the company is taking steps to improve long-term viability. Gap shares are down 31.3% for the past year, but up 18.3% for the year so far. The S&P 500 is up 1.4% for the year to date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Gap Inc. shares are up 1.9% at the open after it was upgraded to overweight from sector weight at KeyBanc Capital Markets on optimism about the namesake brand’s new product and a shift in promotion strategy. The price target is $36. Gap shares are trading at nearly $30 per share. KeyBanc analysts say Gap’s new merchandise “more closely hews to Gap’s American casual aesthetic” with analysts noting a more colorful selection that brings the company back to its “American roots” as well as improved fit and quality. In addition, KeyBanc analysts spotted items that were excluded from promotions on recent channel checks. The bank acknowledges near-term challenges, but says the company is taking steps to improve long-term viability. Gap shares are down 31.3% for the past year, but up 18.3% for the year so far. The S&P 500 is up 1.4% for the year to date.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

U.S. stocks opened lower on Monday as investors weighed choppy trade in oil prices against a dovish stance of the Federal Reserve. The S&P 500 was off by 2 points, or 0.1% at 2,071. The Dow Jones Industrial Average opened flat at 17,786. Meanwhile, the Nasdaq Composite was off by 3 points, or less than 0.1%, to 4,910 at the open.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Shares of Groupon rose 6% in premarket trade Monday after the company announced an investment of $250 million from Atairos, an independent investment fund run by Michael Angelakis, the former chief financial officer for Comcast Corp. . With the investment Atairos will look into partnerships for Groupon, including a potential partnership with Comcast. “The potential in combining Groupon’s local expertise with Comcast’s vast subscriber and advertiser network is something we look forward to closely exploring together,” Neil Smit, Comcast Cable’s CEO, said in the press release. Groupon will also use the money to repurchase stock. The company is purchasing $250 million in convertible debt.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Westlake Chemical Corp. said Monday it is raising its bid for Axiall Corp. to $23.35 per share in cash and stock from an initial price of $20.00 per share. The revised offer values the deal at about $3.1 billion, including about $1.5 billion of debt. The price is a 143% premium over Axiall’s closing price of $9.60 a share on Jan. 22, the last trading date before Westlake’s initial bid. “The revised proposal was summarily rejected by Axiall’s Board of Directors and Axiall refused to make a counterproposal or otherwise negotiate or provide any constructive feedback,” Westlake said in a statement. The company is planning to file preliminary proxy materials with the SEC and to proceed with soliciting proxies to elect an alternate slate of 10 directors to Axiall’s board. Axiall shares were slightly higher premarket, but are down 51% in the last 12 months, while the S&P 500 is up 0.4%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News