STOCKS UP: Retail stocks edged up on Monday after Standard & Poor's reaffirmed its rating for Ambac Financial Group and MBIA Inc. The S&P Retail Index leapt 2.2 percent to 404.45, while the Dow Jones Industrial Average rose 1.5 percent to close at 12,570.22. The broader S&P 500 increased 1.4 percent to 1,371.80. Notable gainers included Aéropostale Inc., which jumped 4.7 percent to $28.26, Charming Shoppes Inc., soaring 17.4 percent to $4.53, and Coldwater Creek Inc., which grew 4.5 percent to close at $5.58. Target Corp. also increased 2.3 percent to close at $53.25

VYING FOR CHILDREN'S PLACE: Ezra Dabah, former chief executive officer and eager suitor of the Children's Place Retail Stores Inc., filed suit against the firm in Chancery Court in Delaware Thursday, to compel the chain to have an annual meeting within 45 days, according to a filing with the Securities and Exchange Commission. This month, Dabah, who beneficially owns 5 million shares of the firm, or 17.2 percent of those outstanding, said he and Golden Gate Private Equity Inc. were considering acquiring the retailer for about $578 million.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus