Retail stocks make moves a day before US Thanksgiving
With the Thanksgiving holiday coming tomorrow, investors are not expecting major waves in the market. As of 12:45 pm Eastern Standard Time (EST), the Dow Jones Industrial Average is up by 0.13%. The S&P 500 rose 0.17% and the NASDAQ reflected a 0.48% increase. However, a number of retail stocks are still making moves throughout the world, according to Daily Finance.
Book store Barnes & Noble is trading 5.44% higher today after its Black Friday deals announcement. The store is offering a 50% off deal on most of its books and educational toys. The most impressive deal that is likely driving its shares up is the Nook Simple Touch sale at USD39, the report said.
Rubber clogs retailer Crocs moved up the notch by 1.99% today. The increment came after rumors spread about private equity buyout groups potentially acquiring a stake in the firm. Speculations abound that any investment made would be used to buy back stock. Still, an equity could assist the company in its turnaround, the report stated.
Rite Aid pharmacy shares were up as much as 3.29% earlier this morning. Now, it has a gain of 1.22%. There is little news as to what brought the change, said the report. But the company's shares were up over 14% the past five days after an analyst gave the stock an "outperform" rating. Surprisingly, the year-to-date stock increased by 476%. However, not everyone thinks this is a good buy because of the price increase in the past year, Daily Finance reported.