News Breaks |
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| November 19, 2012 |
| 07:25 EDT |  | SKS, SKS | Saks management to meet with Lazard Capital
Group luncheon to be held in New York on November 26 hosted by Lazard Capital. |
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News For SKS From The Last 14 Days Check below for free stories on SKS the last two weeks. |
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| May 24, 2013 |
| 10:04 EDT |  | SKS | On The Fly: Analyst Downgrade Summary
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| 07:34 EDT | | SKS | Saks downgraded to Hold from Buy at Argus
Argus downgraded Saks due to valuation. Price target is $16. |
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| May 23, 2013 |
| 06:11 EDT |  | SKS | Saks rally diminishes potential buyout return, says Citigroup
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| 05:47 EDT |  | SKS | Stocks with implied volatility movement; SKS BMY
Stocks with implied volatility movement; Saks (SKS), Bristol-Myers (BMY) according to IVolatility. |
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| May 22, 2013 |
| 16:25 EDT |  | SKS | On The Fly: Closing Wrap
Stocks on Wall Street were sharply lower following a day where the Fed dominated the news. The averages were higher early in the session as Fed Chairman Ben Bernanke testified in front of Congress. However, the averages crossed into negative ground as Bernanke's comments on the potential for future QE tapering were digested. The selling accelerated in the late hours of the session following the release of the minutes from the Fed's last FOMC meeting. ECONOMIC EVENTS: In the U.S., Federal Reserve Chairman Ben Bernanke delivered testimony before the Joint Economic Committee of Congress, stating that premature tightening of monetary policy would carry a "substantial risk" of slowing or ending the economic recovery. Bernanke, however, also said the central bank could begin winding down its bond-buying program at one of its "next few meetings" if the economy continues to improve. The FOMC minutes, released at 2:00 pm ET, indicated that some committee members expressed a willingness to adjust assets purchases, though some disagreement existed over what economic data would be needed to begin such a program. The minutes also said some members might want to cut asset purchases by as soon as June. The National Association of Realtors said existing home sales advanced 0.6% to an annual rate of 4.97M units in April, which was the highest level since November 2009 but still below expectations for a rise to a 4.99M-unit rate. COMPANY NEWS: Target (TGT) shares lost $2.86, or 4.01%, to $68.40 after the company's first quarter report, which it called "disappointing." The company also cut its full-year earnings and same-store sales views. MAJOR MOVERS: Among notable gainers was Saks (SKS), up $1.83, or 13.39%, to $15.50 after the New York Post said the company hired Goldman Sachs (GS) to explore strategic alternatives and Bloomberg said KKR (KKR) was considering a stake in the luxury retailer. Also higher following its better-then-expected quarterly results was Zale (ZLC), which advanced $1.20, or 22.22%, to $6.60. Among noteworthy losers were a number of Solar stocks, including Trina Solar (TSL), down $1.07, or 14.9%, to $6.11, and SunPower (SPWR), down $1.81, or 8.62%, to $19.19 after China's Xinhua news agency said early talks between Europe and China to resolve their fight over solar panel trade rules had failed. Also lower was SolarWinds (SWI), down $6.57, or 13.71%, to $41.34 after the company said it will acquire N-able for $120M and its shares were downgraded at research firm Pacific Crest. INDICES: The Dow was down 80.41, or 0.52%, to 15,307.17; the Nasdaq was down 38.82, or 1.11%, to 3,463.30; and the S&P 500 was down 13.81, or 0.83%, to 1,655.35. |
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| 13:07 EDT |  | SKS | KKR weighs Saks investment, may push Neiman Marcus merger, Bloomberg says
KKR (KKR) is considering an investment in Saks (SKS) and may push Saks to pursue a merger with Neiman Marcus, reports Bloomberg, citing people with knowledge of the matter. Saks shares are up $2.25, or 16.46%, to $15.92 after reports last night said the company retained Goldman Sachs (GS) to explore strategic alternatives, including a possible sale. Reference Link |
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| 12:53 EDT |  | SKS | KKR considers Saks investment, could push merger with Neiman, Bloomberg says
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| 12:20 EDT | | SKS | On The Fly: Midday Wrap
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| 11:53 EDT | | SKS | High option volume stocks: UAN MYL ALNY SKS XIDE
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| 08:59 EDT | | SKS | On The Fly: Pre-market Movers
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| 08:56 EDT | | SKS | Saks price target raised to $18.50 from $13.50 at Maxim
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| 08:21 EDT | | SKS | Saks leveraged buyout unlikely, but plausible, says Deutsche Bank
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| 07:26 EDT | | SKS | JPMorgan pegs Saks potential takeout range at $15.50-$18 per share
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| 07:07 EDT | | SKS | Saks price target raised to $18 from $13 at CLSA
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| 06:49 EDT | | SKS | Saks price target raised to $16.50 from $11.50 at UBS
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| 05:49 EDT | | SKS | Saks volatility low into report it may be up for sale
Saks (SKS) overall option implied volatility of 26 is below its 26-week average of 31 according to Track Data, suggesting decreasing price movement into a New York Post report said the company has hired Goldman Sachs (GS) to explore strategic alternatives. |
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| May 21, 2013 |
| 18:56 EDT | | SKS | On The Fly: After Hours Movers
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| 16:26 EDT | | SKS | On The Fly: Closing Wrap
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| 16:14 EDT |  | SKS | Saks spikes higher as company retains Goldman for strategic alternatives
The shares are currently up over 15.5% in the extended session to $15.76 after a report that the company has retained Goldman to explore strategic alternatives, including a possible sale. At current price next resistance is at $16.86. Support is at $15.49, a prior pivot low. |
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| 16:12 EDT | | SKS | Saks up 15% after NY Post says Goldman hired for possible sale
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