2 Mins Ago
Investor group raises Macy’s buyout bid by nearly $1 billion
Arkhouse Management and Brigade Capital Management are raising their offer to acquire department store chain Macy’s by nearly $1 billion, according to a Sunday press release. Macy’s had previously turned down the proposal, saying it had failed to “provide compelling value” to shareholders.
The offer, which previously valued the retailer at $21 per share, or $5.8 billion, now values Macy’s stock for $24 per share, or $6.6 billion. The new offer represents more than 37% upside from the stock’s last closing price of $17.44.
— Pia Singh
45 Mins Ago
U.S. stock futures are little changed Sunday
U.S. stock futures were about flat Sunday after the a record-setting week for the Nasdaq Composite.
Nasdaq-100 futures rose slightly while S&P 500 futures dipped marginally. Dow futures slipped 27 points, or 0.1%.
— Fred Imbert
An Hour Ago
Stocks closed in the green on Friday
U.S. stocks finished Friday’s trading session higher, with the Nasdaq Composite and S&P 500 closing at fresh record highs.
The Nasdaq rose 1.14%, finishing at 16,274.94. The S&P 500 added 0.80% at 5,137.08. The Dow Jones Industrial Average added around 91 points, or 0.23%, to 39,087.38.
— Hakyung Kim
