|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.1900 - 0.2300|
|52 Week Range||0.1200 - 0.4700|
|Beta (3Y Monthly)||1.51|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 28, 2018 - Dec 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.00|
Cynical investors are used to verbal sleight of hand from corporate executives. After Kroger (KR) CEO Rodney McMullen talked up the food retailer’s digital sales efforts, an analyst couldn’t help but be reminded of similar talk years ago from Sears (SHLDQ) CEO Eddie Lampert. Shares of General Electric (GE) surged 7% on Dec. 13 — its biggest one-day gain in three years — after a JPMorgan analyst said the stock had fallen far enough.
“Right now, nobody wants to be a hero,” said Randall Parrish, a senior portfolio manager at Voya Investment Management, which manages $209 billion. Sanchez said earlier this month that it hired Moelis & Co. as it weighs strategic alternatives, and debtholders are also hiring up for restructuring talks.
Kroger’s CEO talked up the grocer’s “asset-light” partnerships, which, for one analyst, were reminiscent of Eddie Lampert’s approach to Sears’ business.
HOFFMAN ESTATES, Ill., Dec. 11, 2018 /PRNewswire/ -- Shop Your Way® continues to support members with all of their life moments and that now extends to financial health with the launch of Credit Confidence Powered by LendingTree. The new solution launching today on ShopYourWay.com and the ShopYourWay mobile apps gives tens of millions of members the ability to check their credit score for free, have their credit monitored, receive notifications and alerts to promote financial health and education, and enables them to apply for loans. Credit Confidence Powered by LendingTree provides personalized insight and information on factors impacting credit scores, along with intuitive suggestions for credit improvement.
Most U.S. stock benchmarks closed lower Thursday, but well off the day's worst levels, with the blue-chip Dow shedding as many as 785 points at its lows. The S&P 500 was down 0.2% to around 2,696, based on preliminary numbers. The Dow Jones Industrial Average ended lower by 79 points, or 0.3%, to 24,948. The Nasdaq Composite finished higher by 0.4% to 7,188. Equities came under pressure throughout the session after a senior executive of Huawei Technologies, a Chinese telecoms group, was detained for allegedly violating U.S. sanctions on Iran. Late in the session, reports suggested senior Federal Reserve officials wanted to adopt a wait-and-see attitude after December's Fed meeting. In company news, shares of Sears Holdings Corp. gained more than 3% after Eddie Lampert's investment fund offered to buy what was left of the retailer for $4.6 billion.
ESL Investments Inc., a hedge fund founded by Eddie Lampert, has placed a bid of $4.6 billion to purchase what remains of Sears Holdings Corp. , the bankrupt department store retailer whose chief executive is Eddie Lampert. The acquisition would be through a newly-formed company, Newco, and would be comprised of up to $950 million in cash, a credit bid of about $1.8 billion, $500 million in Newco notes, cash, and/or waiver or assignment of deficiency claims, rollover of about $271 million in cash collateral from the LC Facility, and about $1.1 billion in assumed liabilities like gift cards and Sears' Shop Your Way loyalty program. The bid assumes that about 50,000 employees would continue working for the company and a reinstatement of the severance program. Sears filed for bankruptcy in October. Sears shares have lost nearly 93% of their value in the last year, while the S&P 500 index has gained 1.2% for the period.
NEW YORK (AP) — Hedge fund run by Sears CEO Eddie Lampert want to spend $4.6 billion to take control of the storied department store .
For example, this year the Amazon Business segment is at an annual run-rate of $10 billion. In a recent employee meeting, he said: “Amazon is not too big to fail … In fact, I predict one day Amazon will fail. Amazon will go bankrupt.
In an unusual move, a Justice Department unit urged a federal judge to claw back fees paid to McKinsey & Co. for what it says are inaccurate and misleading disclosures in a 2015 bankruptcy case.
Sears Holdings Corp. stock soared more than 27% Wednesday after Bloomberg reported that Chairman Eddie Lampert is preparing a joint bid with creditor Cyrus Capital Partners to take over the company and keep it alive. Bloomberg cited people with knowledge of the matter as saying Lampert and Cyrus may swap debt for ownership of stores in a credit bid. Sears filed for chapter 11 bankruptcy protection in October, after years of declining sales, store closures, real estate deals and other machinations by Lampert to keep the company afloat. The company made a deal with its lenders to allow stores to stay open through the holiday season. The stock is trading at 39 cents on the dollar, meaning today's gains have added just 9 cents to its price.