Brown Shoe Co. (BWS) announced after the bell Thursday that it has entered into an amended and restated credit agreement. Under the agreement, the company's borrowing capacity has been increased to $600 million.
Brown Shoe declined throughout the first hour of trade Friday and sank further going into the close. The stock finished down by 2.72 at $28.79 on the highest volume of the year. Brown Shoe dropped to nearly a 1-month low and fell below its 50-day moving average.
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