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Retail

The Week’s Major Market Winners (NSM)(ANF)(RSH)

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By Douglas A. McIntyre Updated Published
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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

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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