By Amit Chokshi:It takes a special type of management team and board to reach new lows for corporate governance when such “benchmarks” of fiduciary duty and competence are established by companies such as Hewlett-Packard (HPQ) and MF Global (MFGLQ.PK) but the executive team and Board at Talbots (
Clothing retailer Express, Inc. (EXPR) confirmed yesterday that it has received a letter from investment firm Sycamore Partners intimating the latter’s interest in acquiring it. Sycamore had revealed on Thursday that it has purchased a 9.9% stake in the fashion retailer. Express’s stock price surged 22% in extended trading yesterday following the confirmation.
Gold Surges As Greece Crashes - Eurozone Debt Crisis Part II Cometh Gold jumped 2.3 percent to a six-week high yesterday as sharp falls on stock markets globally led to renewed demand for gold as a haven.
The 20th century could be categorized as THE century when communications took off and we started living in each other’s pockets. Lives had been ruined by war, trouble and strife. Wealth had been redistributed beyond belief. There were no longer just a few that were making the profits, but there were growing classes of people that wanted recognition.
By Richard Evans:The board of Sycamore Networks, Inc (SCMR) made a shock announcement Tuesday, 23 October. Sycamore sold off some of its assets, while saying it would sell off the remaining assets of the business and close shop. NASDAQ temporarily halted trading in Sycamore's shares after the announcement was made.
The trading suspension placed on CYNK Technology Corp (CYNK) stock ended late yesterday but brokers don’t see the stock trading again on Friday. The stock was brought to a halt by the Financial Industry Regulatory Authority at 8 AM EDT on July 11, because of an “extraordinary event”: the stock had inexplicably surged 20,000%. According to Penny Stock Trading platform operator, OTC Markets Group, CYNK was trading over-the-counter exchanges.
A Wall Street trader said CYNK Technology Corp.’s 36,000% stock surge cost him his job, and he blames a short squeeze and regulators who didn’t halt the shares before the company’s value shot past US$6 billion.
By Jeffrey Himelson:Last Thursday morning, Sycamore Partners made a splash in the retail apparel market by revealing, through an SEC filing, a 9.9% stake in Express (EXPR). The significant ownership stake indicates that it is now moving for a takeover, however, one has yet to be officially announced. Sycamore believes that the struggling mall-based retailer can be turned around.