Shares of Sears Holdings Corp. closed more than 8 percent higher on Wednesday. Shares have been in a downward spiral since announcing 100 to 120 store closings in December. Shares of Target and Wal-Mart also closed higher on Wednesday.
Despite raising its fourth quarter earnings forecast by 5 cents, shares of PVH Corp. are down more than 4 percent after the closing bell. The clothing company now sees adjusted earnings of $1.08 to $1.10 a share, compared with its previous forecast of $1.03 to $1.05 a share. Gap Inc. shares are edging slightly higher in late trading.
Investor Insight: Eric Sprott and Endeavour Silver: A Match Made in Heaven?
Regions Financial Corp. is trading down 1 percent in extended trading. The company announced it will sell Morgan Keegan & Co. to Raymond James Financial Inc. for $930 million. Shares of Raymond James Financial are also trading lower on the news.
Tractor Supply Co. jumped almost 4 percent in late trading. The company announced that revenue increased to $1.24 billion from $1.03 billion last year. The company also increased its 2011 EPS range from $2.97 to $2.99, compared to prior estimates of $2.85 to $2.89.
Further Reading: Intel and 4 Tech Super Stars Exciting CES>>
To contact the reporter on this story: Eric McWhinnie at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
There are no comments yet