Yahoo Finance Today's Research Reports on Stocks to Watch: Nordstrom and Sears Holdings Corporation
NEW YORK, NY / ACCESSWIRE / October 17, 2017 / Nordstrom sinks after Wall Street finds out that the Nordstrom family's efforts to go private are now suspended. Shares of Sears also crumbled after a key member of its board of directors has decided to leave.
RDI Initiates Coverage on:
Nordstrom, Inc.
http://www.rdinvesting.com/report/?ticker=JWN
Sears Holdings Corporation
http://www.rdinvesting.com/report/?ticker=SHLD
Nordstrom, Inc.'s shares closed down 5.28% on Monday and came 10 cents shy of its 52-week low during intra-day trading. The drop came after it was announced that the Nordstrom Family has suspended its efforts on taking Nordstrom private. It was a struggle for the family to raise enough financing for the buyout. It was this past June that the family group, which has a 31.2% stake in the store, wanted to take the company private. It was a week ago that the retailer's special board committee was notified by representatives of the Nordstrom family group that efforts would be given up until the end of the year. Shares dropped to their lowest level in five months on a little over 10 million shares traded yesterday.
Access RDI's Nordstrom, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=JWN
Sears Holdings Corporation's shares closed down 11.52% on Monday and came just a quarter shy of the stock's 52-week low after it was revealed that a key member of its board would be leaving. Shareholder Bruce Berkowitz will be leaving the retailer's board of directors on October 16th. His mutual fund, Fairholme Capital Management LLC, has a 27% stake in the retailer making it the biggest institutional investor of Sears. Berkowitz, who has been a member of the board since February of last year, said in a statement yesterday, "It has been a pleasure to serve on the board of Sears Holdings and work closely with [CEO Eddie Lampert] and the rest of the leadership team. I wish the company and its associates all the best as Sears Holdings continues to execute on its strategic priorities." Sears spokesman Howard Riefs said in an e-mailed statement to TheStreet, "Mr. Lampert and Mr. Berkowitz have a long-standing partnership and continue to have great respect for each other. They both expressed their appreciation for the time they spent together serving on Sears' board of directors." Berkowitz started investing in Sears back in 2005.
Access RDI's Sears Holdings Corporation Research Report at:
http://www.rdinvesting.com/report/?ticker=SHLD
Our Actionable Research on Nordstrom, Inc. (NYSE: JWN) and Sears Holdings Corporation (NASDAQ: SHLD) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
