Joseph A. Bank (JOSB) was lower in early trading after the company resisted the latest takeover attempt by Men’s Warehouse. In the latest salvo in the raging takeover battle between the two men’s clothing retailers, Jos. A. Bank published a letter questioning the reaction anti-trust regulators would have to the proposed $2.3 billion dollar deal. Meanwhile, Jos. A. Bank is reportedly in talks to buy apparel retailer Eddie Bauer.
Yum! Brands (YUM) is set to report earnings after the close today. The parent company of Taco Bell, Pizza Hut and KFC is expected to post profits of $0.80 a share, which would be down $0.03 from the previous year. Revenue is expected to climb 2.5%. Investors will be watching closely to see how plummeting sales in China will effect Yum's earnings. Sales in China have fallen due to an avian flu scare as well as investigations into a chicken supplier for its KFC stores.
ArthroCare (ARTC) was up as much as 7% in early trading. Artificial joint maker Smith & Nephew is buying the Texas-based medical device maker for $1.7 billion in cash. Looking to boost its sports medicine business, Smith & Nephew will pay $48.25 a share in cash, 6.3% higher than ArthroCare's Friday closing price.
And Herbalife (HLF) was up more than 4% in early trading after the company raised its fourth quarter guidance and announced a $1 billion buyback.
- Investment & Company Information