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By BLOOMBERG BUSINESS NEWS | July 31, 1996
NEW YORK -- U.S. stocks rose yesterday as reports of tame inflation drove bond yields lower, helping interest-rate-sensitive bank shares gain. Computer and semiconductor issues furthered the advance.Stocks were buoyed by a report indicating that wages are not rising rapidly enough to drive prices of goods and services higher. Coupled with evidence that the housing market is not heating up and that retail sales are rising modestly, the report prompted investors to reassess expectations for higher interest rates.
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BUSINESS
By Natalie Sherman, The Baltimore Sun | March 12, 2014
June 21, 2013 At its annual meeting, Jos. A. Bank says it is looking at potential acquisitions in order to secure future growth. Shares close at $39.63. Sept. 5 Bank profits slide in the second quarter. Shares close at $42.27. Mid-September Bank offers to buy Men's Wearhouse for $48 cash a share, a $2.3 billion deal. The offer is not made public. Oct. 9 Bank announces its bid to buy Men's Wearhouse as the Houston company rejects it, calling the proposal "inadequate.
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BUSINESS
By BLOOMBERG BUSINESS NEWS | November 26, 1996
NEW YORK -- U.S. stocks extended a three-week record run yesterday, sending the Dow Jones industrial average past 6,500 for the first time. Utility and bank shares led the gains."
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 24, 2014
Men's Wearhouse sweetened its hostile bid for Hampstead-based Jos. A. Bank Clothiers Inc. on Monday, raising its price more than 10 percent in a deal that hinges on Bank dropping its plans to buy Eddie Bauer. Houston-based Men's Wearhouse boosted its cash offer to shareholders to $63.50 per share from $57.50 per share and moved up the expiration date to March 12. The chain said it would be willing to bid even more — to $65 per share — if Bank allows it to examine the company's financial information.
BUSINESS
By BLOOMBERG NEWS | April 1, 1997
NEW YORK -- Broad market indexes tumbled yesterday, following the Dow Jones industrial average and other major indexes downward.The Russell 2,000 index of small capitalization stocks fell 6.39 to 342.56; the Wilshire 5,000 index, comprising stocks on the New York, American and Nasdaq stock exchanges, plummeted 163.30 to 7,213.53; the American Stock Exchange composite index dropped 9.19 to 568.71; and the S&P 400 mid-cap index slumped 6.92 to 250.84.All of those but the Wilshire 5,000 hit lows for the year.
BUSINESS
By BLOOMBERG NEWS | April 23, 1998
NEW YORK -- The Dow Jones industrial average retreated from a record yesterday, but U.S. stocks and other indexes rose for a second day as investors speculated -- correctly -- that Microsoft Corp. would release better-than-expected profits, a sign of a pickup in the computer industry.After the market closed, Microsoft reported fiscal third-quarter earnings of 50 cents a share, 3 cents better than estimates.Bank shares, already red-hot from takeover speculation, got a boost from Bank of New York Co.'s unsolicited $22.6 billion bid for Mellon Bank Corp.
BUSINESS
By Natalie Sherman, The Baltimore Sun | March 12, 2014
June 21, 2013 At its annual meeting, Jos. A. Bank says it is looking at potential acquisitions in order to secure future growth. Shares close at $39.63. Sept. 5 Bank profits slide in the second quarter. Shares close at $42.27. Mid-September Bank offers to buy Men's Wearhouse for $48 cash a share, a $2.3 billion deal. The offer is not made public. Oct. 9 Bank announces its bid to buy Men's Wearhouse as the Houston company rejects it, calling the proposal "inadequate.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 13, 2013
Shares of Jos. A. Bank Clothiers Inc. jumped 12.5 percent Tuesday after investment manager BeaconLight Capital LLC urged the Hampstead-based men's apparel chain to change direction by reorganizing its board and returning cash to shareholders. "We are convinced that tremendous value is trapped inside the company," Ed Bosek, BeaconLight's managing partner said in a publicly released letter Tuesday to the board. Bank shares rose $5.03 to close at $45.33 per share on the NASDAQ. BeaconLight, which owns more than 1 percent of Jos. Bank stock, criticized the company's performance, lack of communications with shareholders, strategy of seeking acquisitions and "staggering" cash reserve of $377 million at the end of the fiscal year.
BUSINESS
The Baltimore Sun | January 21, 2014
Continuing to push Jos. A. Bank Clothiers to talk merger with Men's Wearhouse, a large shareholder identified the two men it has nominated to the Hampstead-based retailer's board. Eminence Capital LLC, a New York hedge fund that owns 4.9 percent of Bank's outstanding shares, announced Tuesday that it nominated two retail veterans to the retailer's board. They are Bruce J. Klatsky, former chairman of Phillips-Van Heusen Corp., and Norman S. Matthews, former president of Federated Department Stores.
BUSINESS
By Bloomberg Business News | June 20, 1995
NEW YORK -- U.S. stocks posted their biggest rally this month yesterday after First Union Corp.'s $5.4 billion bid for First Fidelity Bancorp. sent bank shares soaring. A surge in semiconductor issues also helped to spur the advance.The biggest U.S. bank buyout in history supported the idea that companies are fairly valued, even though major stock indexes and averages are up 18 percent this year. The offer came a week after International Business Machines Corp. acquired Lotus Development Corp.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 3, 2014
As the prospect of a $1.6 billion merger between Jos. A. Bank Clothiers Inc. and Men's Wearhouse dimmed, investors retrenched Monday, pushing down shares of both retailers much further than the broader market decline. The market reacted after a weekend in which Hampstead-based Jos. A. Bank rejected a Men's Wearhouse request to negotiate. Bank also raised antitrust concerns in a letter sent Sunday to Men's Wearhouse CEO Douglas S. Ewert, after the Federal Trade Commission questioned the merger.
BUSINESS
The Baltimore Sun | January 21, 2014
Continuing to push Jos. A. Bank Clothiers to talk merger with Men's Wearhouse, a large shareholder identified the two men it has nominated to the Hampstead-based retailer's board. Eminence Capital LLC, a New York hedge fund that owns 4.9 percent of Bank's outstanding shares, announced Tuesday that it nominated two retail veterans to the retailer's board. They are Bruce J. Klatsky, former chairman of Phillips-Van Heusen Corp., and Norman S. Matthews, former president of Federated Department Stores.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 17, 2014
Jos. A. Bank Clothiers refused to roll over and play dead after the recent hostile takeover offer from Men's Wearhouse. On Friday, the Hampstead-based retailer announced that its board recommends shareholders reject a $1.61 billion acquisition offer from Men's Wearhouse, the latest move in a tug of war kicked off when Bank tried to buy its larger rival in October. Bank said in a statement that its board concluded the $57.50-a-share offer "is inadequate from a financial point of view and not in the best interest of Jos. A. Bank's stockholders.
BUSINESS
By Lorraine Mirabella | October 31, 2013
Firing another shot in its attempt to buy Men's Wearhouse, Jos. A. Bank Clothiers Inc. said Thursday it would consider sweetening its $2.3 billion offer to buy its rival. The Hampstead-based men's apparel retailer also added a deadline, giving Men's Wearhouse two weeks to come to the table before it withdraws the offer. Shares of both companies, which have increased since news of a potential merger became public earlier this month, slipped Thursday, with Men's Wearhouse shares falling more than 3 percent to close at $42.30.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 13, 2013
Shares of Jos. A. Bank Clothiers Inc. jumped 12.5 percent Tuesday after investment manager BeaconLight Capital LLC urged the Hampstead-based men's apparel chain to change direction by reorganizing its board and returning cash to shareholders. "We are convinced that tremendous value is trapped inside the company," Ed Bosek, BeaconLight's managing partner said in a publicly released letter Tuesday to the board. Bank shares rose $5.03 to close at $45.33 per share on the NASDAQ. BeaconLight, which owns more than 1 percent of Jos. Bank stock, criticized the company's performance, lack of communications with shareholders, strategy of seeking acquisitions and "staggering" cash reserve of $377 million at the end of the fiscal year.
NEWS
By Jay Hancock | October 13, 2010
Just when you thought the nameplate on your bank and football stadium would stop changing, the Maryland bank with the second-largest number of deposits became the subject of merger speculation, big stock swings and international headlines. M&T Bank Corp. was in combination talks until recently with Banco Santander SA, a global giant based in Spain, according to news reports. Last week, instead of getting a merger, M&T stock owners watched the bank's biggest shareholder dump its entire stake, a turnabout that caused M&T shares to fall below $77 after trading above $90 last month.
BUSINESS
By Bloomberg Business News | August 29, 1995
NEW YORK -- U.S. stocks fell yesterday as continued concern about sales of Microsoft Corp.'s flagship software program Windows 95 pushed technology shares lower.That countered gains in bank shares, which rallied after Chase Manhattan Corp. and Chemical Banking Corp. agreed to merge, topping Citibank as the largest U.S. bank with $297 billion in assets."The big deal is the Chemical-Chase merger," said Phil Schettewi, a portfolio strategist who manages $3 billion for Loomis, Sayles & Co. "The whole financial services industry still has room to consolidate.
BUSINESS
By BLOOMBERG BUSINESS NEWS | December 29, 1995
NEW YORK -- U.S. stocks were mixed yesterday after a profit warning from Cirrus Logic Inc. sent semiconductor and other computer issues lower. Expectations that short-term interest rates will fall helped bank shares gain for a third day.Cirrus Logic shares tumbled $7 to $19.88 after the computer chip maker trimmed its earnings forecast for the quarter ended Dec. 31, its second revision in two months. The warning fed concern that weakening sales will curb the computer industry's profit growth.
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