Deals
U.S. Stocks Decline Amid Selloff in Retailers, Merger Activity
- Macy's shares tumble after sales disappoint; Amazon rises
- Energy companies retreat as crude slides amid rising supply
Will Friday's Retail Data Sink U.S. Stocks?
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U.S. stocks slipped in quiet trading during the Veterans Day holiday, with merger news and a selloff in retail shares sparked by results from Macy’s Inc. capturing the spotlight.
Macy’s slumped the most in seven years following a cut in its profit forecast, turning the tables on retailers after they ranked among yesterday’s leaders. Apache Corp. tumbled 7.3 percent after rebuffing a buyout offer from Anadarko Petroleum Corp. Molson Coors Brewing Co. rallied 4.4 percent as it stands to benefit from the mega-merger between Anheuser-Busch InBev NV and and SABMiller Plc.