|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.4200 - 0.4950|
|52 Week Range||0.1200 - 3.6000|
|Beta (3Y Monthly)||3.85|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 3, 2019 - May 6, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||2.00|
Shares of AutoNation Inc. were indicated up nearly 2% in premarket trade Wednesday, after former Sears Holdings Corp. Chief Executive Eddie Lampert disclosed that he boosted its stake in the auto parts seller to 17.1%. A filing with the Securities and Exchange Commission showed that Lampert now owns 15.23 million AutoNation shares, which would leave him as the second-largest shareholder. Lampert had previously disclosed ownership of 11.49 million shares, or 12.9% of the shares outstanding, according to FactSet. Lampert also increased his stake in Lands' End Inc. to 20.89 million shares, or 64.8% of the shares outstanding, to keep him as the apparel seller's largest shareholder. Lampert had previously disclosed ownership of 15.79 million shares, or 49.0% of the shares outstanding, according to FactSet. AutoNation's stock has lost 15.0% over the past 12 months and Lands' End shares have shed 23.9%, while the S&P 500 has gained 4.5%.
Sears unveiled a new logo, marking its latest attempt to freshen its image and reconnect with consumers. The new design hopes to represent a combination of a home and a heart. People took to social media to mock its stark resemblance to Airbnb's logo.
Sears Holdings Corp OTC Markets Group INC(NQB):SHLDQView full report here! Summary * ETFs holding this stock are seeing positive inflows but are weakening * Bearish sentiment is low * Economic output in this company's sector is expanding Bearish sentimentShort interest | PositiveShort interest is low for SHLDQ with fewer than 5% of shares on loan. The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding SHLDQ totaled $4 million. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Services sector is rising. The rate of growth is strong relative to the trend shown over the past year, and is accelerating. Credit worthinessCredit default swapCDS data is not available for this security.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
In 1979, Nobel Prize-winning economist Milton Friedman made a then-controversial statement. He said in an interview that regulators should allow Sears (OTCMKTS:SHLDQ) to buy Kmart. In the late 1970s, Sears had accounted for about 1% of GDP and faced a rising competitive threat from Kmart. At the time, regulators would have likely not allowed Sears stock to take such a dominant position.Source: Shutterstock By the time Dr. Friedman died in 2006, competitive forces and attitudes had changed, Sears and Kmart had, in fact, become one. Emerging companies such as Walmart (NYSE:WMT) and Home Depot (NYSE:HD) had long-since supplanted the dominance of Sears and Kmart, and the long death spiral in Sears stock had begun.Today, as both Sears and Kmart fight for survival, they have now sued former chairman, Eddie Lampert for looting the company and leaving it no other option besides bankruptcy. Many possible outcomes exist for this lawsuit, which includes Lampert's ESL investment and Treasury Secretary Steven Mnuchin, a former ESL director. However, finding a result that will save Sears stock appears much less likely.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Sears Trades as a Penny Stock As It Sues Its Former ChairmanLampert's actions might justify such a lawsuit. In February, Mr. Lampert bought most of the company's remaining assets for $4 billion. This left Sears stock holding billions in debt. Now, it seeks to reorganize with an estimated 425 stores. Unfortunately, it will do so without the Kenmore and DieHard brands that Lampert bought in February. It will also move forward without the iconic Craftsman brand that Lampert sold to Stanley Black & Decker (NYSE:SWK). * 10 High-Yielding Dividend Stocks That Won't Wilt However, the question investors need to ask is how winning a lawsuit against Lampert will help Sears stock. Admittedly, those who have gambling money could make a profit. Traders who bought at the 12-cent-per-share low of last December have earned a return of about sixfold. However, the stock has also lost around 80% of its value from year-ago levels.Even worse, the company appears irreparably damaged. Thanks to the bankruptcy, Sears stock now trades on the pink sheets as SHLDQ. Even worse, what remains of the business will have to move forward with only its name to bolster the company. Also, even if it wins some of its brands back from Lampert, the company holds no obvious competitive advantage. The Future of SearsWhile Sears may have served consumers well in the 20th century, it remains unclear what Sears offers today's retail world. Sears plans to open small-format stores called Sears Home & Life. These stores will sell "hardline" items such as tools, lawn and garden equipment, appliances, and mattresses. In the old Sears, hardline items had long outsold "softlines" such as clothing.Still, as mentioned earlier, the company has lost the well-regarded brands it used to control. Today, we can now see how its catalog business served as a precursor to e-commerce. However, the company stopped publishing the catalog in 1993, the year before Jeff Bezos founded Amazon (NASDAQ:AMZN). Moreover, despite the strength of Sears in hardline items, consumers have grown accustomed to buying those items elsewhere. Given these challenges, earning long-term profits in Sears stock remains difficult even at its depressed share price. The Bottom Line on Sears StockNeither suing its former chairman nor the move toward hardlines gives Sears stock much of a chance of re-emerging. Sears may have a strong case against Mr. Lampert and ESL. However, even if the lawsuit succeeds, Sears must again make itself a destination store, this time without the brands which bolstered the company in the 20th century.Unfortunately, it appears the retail world has moved on from Sears. Yes, it is possible to place one's gambling money in Sears stock and earn a massive payoff in a revitalized Sears. However, if we apply the lessons from the Milton Friedman interview, it is also possible that a merger of Amazon and Walmart could also happen someday. Such is the power of the market forces in retail that Dr. Friedman understood during his lifetime. * 5 Top Stock Trades for Tuesday: TSLA, TWTR, TTD, O While knowing the past can benefit investors, it is still the future that drives returns. SHLDQ will struggle to become part of that future.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Stocks With Too Much Risk, Not Enough Upside * 7 Companies That Are Closing the CEO-Worker Wage Gap * 7 Video Game ETFs That Will Make You a Winner Compare Brokers The post Do Not Expect the Lawsuit Against Lampert to Save Sears Stock appeared first on InvestorPlace.
Sears Holdings Corp sued longtime former Chairman Eddie Lampert, his hedge fund ESL Investments and others like Treasury Secretary Steven Mnuchin, claiming they illegally siphoned billions of dollars of assets from the retailer before it went bankrupt. The lawsuit, made public on Thursday, was filed by the restructuring team winding down Sears' bankruptcy estate and suing on behalf of creditors, many of whom blame Lampert for the retailer's downfall. The complaint seeks the repayment of "billions of dollars of value looted from Sears," including while it was in what Lampert would later call a "death spiral" where it sold core assets to meet daily expenses with no real plan for becoming profitable.
Sears Holdings Corp. is suing its former chairman and largest shareholder Eddie Lampert, alleging the billionaire stripped the once iconic company of more than $2 billion in assets. The lawsuit, which was filed late Wednesday with the U.S. Bankruptcy Court of the Southern District of New York, also names former Sears directors, including U.S. Treasury Steven Mnuchin as well as executives at Lampert's hedge fund ESL. Sears, which also operates Kmart, filed for Chapter 11 bankruptcy protection in October amid years of massive losses and sales drops.
Sears Holdings Corp. has sued its former chief executive Eddie Lampert, his hedge fund ESL Investment Inc. and other ESL and Sears directors for stripping the department store icon of its assets, according to The Wall Street Journal. The lawsuit alleges "bad-faith financial projections" even as Sears racked up more than $7 billion in losses between 2011 and 2014. It also accuses Lampert and other of trying take the most profitable Sears stores to spin off into Seritage Growth Properties. "ESL Investments, Inc. vigorously disputes the claims in the debtors' complaint," the group said in a statement emailed to MarketWatch. "ESL was a constant source of financing for Sears Holdings over many years, including through the extension of $2.4 billion in various secured financings to the company. All transactions were done in good faith, on fair terms, beneficial to all Sears stakeholders and approved by the Sears Board of Directors, made up of a majority of independent directors, as well as the company's Related Party Transactions Committee, which was itself comprised of independent directors and advised by separate independent financial and legal advisors." Other defendants include Treasury Secretary Steven Mnuchin, who is a former investor and executive at ESL. Sears filed for bankruptcy in October 2018. Sears stock has gained nearly 173% in 2019, trading at about 74 cents, but it has lost nearly 77% over the last year. The S&P 500 index is up almost 16% for the year to date.
Sears accuses its former CEO Eddie Lampert of stealing billions of dollars from the once-storied retailer. Sears Holdings filed for bankruptcy in October, after years of losses under Lampert, who was then its chairman, CEO and largest shareholder. "Altogether, Lampert caused more than $2 billion of assets to be transferred to himself and Sears' other shareholders and beyond the reach of Sears' creditors," the lawsuit alleges.
The board at Sears Hometown & Outlet Stores Inc. is meeting on Monday to discuss a possible liquidation, according to a filing, a move opposed by ESL Investments Inc., Eddie Lampert's hedge fund and a shareholder. ESL and its affiliates own about 58% of Sears Hometown shares. On April 8, Sears Hometown announced that it had received a bid from Transform Holdco for $2.25 per share for all of the outstanding stock ESL doesn't already own, which was countered with a proposed $9.50 per share price. ESL voiced its opposition to liquidation on Friday. "Any decision to liquidate the Hometown business would have a negative effect on Hometown owners and their families, who have supported the company for more than 25 years, along with their employees and the communities that they serve," says an ESL statement. ESL removed William Phelan and David Robbins from the Sears Hometown board according to the filing, and has appointed Alberto Franco and John Tober. It also changed the company bylaws so that liquidation can only happen after notice to shareholders and two votes at least 30 days apart with the support of at least 90% of directors. Sears Hometown shares have slumped 2.6% in Monday trading, but gained 5.6% for the year to date. THe S&P 500 index is up 15.7% for 2019 so far.
BMO Capital Markets estimates Amazon, with Whole Foods, could be interested in filling as many as 110 old Sears and Kmart stores. Sears, a once-bankrupt department store chain, has arguably held on to some of the best retail real estate in the country. Your local, shuttered Sears or Kmart store could soon turn into a grocery store, according to one investment group.
Sears Hometown and Outlet Stores Inc. said Monday that it received a bid from Transform Holdco LLC to acquire all of the Sears Hometown & Outlet Store stock that isn't already owned by Eddie Lampert's hedge fund, ESL Investments Inc., and its affiliates. The bid is for $2.25 per share. Transform Holdco was created in January to purchase the remaining Sears Holdings Corp. assets in order to continue as a going concern. Sears Hometown & Outlet stores is focused on selling appliances, lawn care items, and other hardware. Sears is opening three small-format stores in May that will sell tools, appliances and other items, according to The Wall Street Journal. A special committee will review the latest proposal. It will only proceed with approval of the full board and the recommendation of the special committee. Sears Hometown & Outlet Stores shares surged 10.5% in Monday premarket trading, but have taken a 10.8% tumble in 2019 while the S&P 500 index has gained 15.4% for the period.
After its journey through bankruptcy, Sears is getting ready to open its first batch of smaller stores that won't carry clothing but will instead focus on appliances, mattresses and home services. The move comes after Sears has shuttered hundreds of stores in recent years. Peter Boutros, chief brand officer for Sears and Kmart, declined to say how many of these new format stores are in the works but said locations have been identified.
U.S. retail sales surged 1.6% in March, posting the biggest gain since 2017. Sales in autos, furniture, gasoline, and clothing all popped. Yahoo Finance's Jen Rogers, Myles Udland, Andy Serwer and Brian Sozzi discuss.
Sears Hometown and Outlet Stores say Eddie Lampert wants to buy the 40 percent of the company he doesn't already own for about $21 million. Yahoo Finance's Adam Shapiro and Julie Hyman discuss with the panel.
Sears Holdings Chairman Eddie Lampert is pushing ahead with a $21M bid to buy back its Sears Hometown and Outlet Stores. Yahoo Finance's Alexis Christoforous and Brian Sozzi discuss.