Rising Blue Chips, $22.4 Billion Hostile Takeover Send Dow Up
Apple's Smartwatch Will Move Share Prices.
Mall Owner Simon Property Takes Over Macerich. Simon Property Group (SPG), which owns shopping malls across the country, executed a hostile takeover of its competitor Macerich (MAC) today. The action drove share prices up $6 for Macerich, but Simon Property dipped slightly when news hit of the $22.4 billion stock buy.
Lumber Liquidators Continues To Dive. Lumber and home improvement retailer Lumber Liquidators (LL) continued to freefall today, diving on news that the business may have intentionally mislabeled toxic linoleum floor tiles in order to sell them. The company is currently set to defend itself from a $5 million class action lawsuit. Lumber Liquidators (LL) stock fell 16% today, down -$5.37 per share to $27.95.
Rite-Aid Weak Despite Playing In A Booming Sector. Low operating cash flow and slimmer profit margins have stopped Rite-Aid (RAD) from growing the way that the rest of their market segment is. The stock has dipped 8% over the past 5 days, and fell almost 2% today, or -$0.14 per share, and closed at $7.51. The health services and retail sectors are both strong, and Rite-Aid competitor Walgreen's (WBA) is in much better shape. Walgreen's stock rose $1.15 per share today, and ended the day's trading at $83.50.
Autozone Sets Their Sights High In New Q2 Forecast. National car parts retailer Autozone (AZO) had a strong day of trading today. In a call with shareholders the company disclosed a higher than expected earnings forecast for the coming fiscal quarter. The stock rose $5.69 per share to $650.89, setting a new 52-week high. Competitor Advanced Auto Parts (AAP) dipped slightly in trading today, losing -$0.78 to close the day trading for $148.29 per share.
Published on Mar 9, 2015By Aaron Phillips