Stocks which rose last week were paced by National Semiconductor (NYSE: NSM) which jumped 68% to $27 after it agreed to be purchased by Texas Instruments (NYSE: TXN). The fate of the transaction between two weak companies depends on whether TI management can bring the magic “synergy” that most M&A transactions rely upon. Based on the TI track record, it is not likely.
Abercrombie & Fitch (NYSE:ANF) was up 15% to $68.50. Same-store sales rose rapidly in March and based on the last quarter’s numbers, Abercrombie is likely to have strong Easter and spring sales.
Bed Bath & Beyond (NASDAQ: BBBY) was up 12% as it announced strong March sales. Limited Brands (NYSE: LTD) and Radio Shack each rose (NYSE: RSH) nearly 8% for the same reason.
The retailers with large improvements in share prices are now under pressure to show that their first quarter numbers support same-store sales. This is unlikely as their costs of goods, particularly cotton, were up by double digits.
Douglas A. McIntyre
In 20 Years, I Haven’t Seen A Cash Back Card This Good
After two decades of reviewing financial products I haven’t seen anything like this. Credit card companies are at war, handing out free rewards and benefits to win the best customers.
A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges.
Our top pick today pays up to 5% cash back, a $200 bonus on top, and $0 annual fee. Click here to apply before they stop offering rewards this generous.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.