What's Going On With Department Store Major Macy's Shares On Friday?
Portfolio Pulse from Shivani Kumaresan
Macy's shares are rising in premarket trading due to an increased buyout bid from Arkhouse Management and Brigade Capital Management, valuing the stock at $24.80 per share. The new bid follows previous offers and comes after Macy's reported a decline in first-quarter sales. Investors can also gain exposure to Macy's through ETFs like Invesco S&P MidCap 400 Pure Value ETF (RFV) and SPDR S&P Retail ETF (XRT).
July 05, 2024 | 3:01 pm
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POSITIVE IMPACT
Macy's shares are rising due to an increased buyout bid from Arkhouse Management and Brigade Capital Management, valuing the stock at $24.80 per share.
The increased buyout bid directly impacts Macy's stock price positively, as it suggests a higher valuation and potential acquisition.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Invesco S&P MidCap 400 Pure Value ETF (RFV) may see positive movement as it includes Macy's, which is experiencing a rise in stock price due to a buyout bid.
RFV includes Macy's in its holdings, and the positive movement in Macy's stock could contribute to the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
SPDR S&P Retail ETF (XRT) could see positive effects as it holds Macy's, which is rising in stock price due to a higher buyout bid.
XRT holds Macy's, and the rise in Macy's stock price due to the buyout bid could positively impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50