Investors Reward Kmart, Sears and Their Suppliers
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Stocks rose as an $11 billion offer by Kmart for Sears, Roebuck lifted retailers and better-than-expected earnings from Hewlett-Packard ignited a rally in technology shares.
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New York -- Few things stir the heart of stock investors like a huge merger deal. And last week&#39;s shotgun wedding between Kmart and Sears, two limping retailers, was no exception.
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TORONTO (CP) - Stocks finished higher Wednesday but well off highs of the day, as a runup in the price of oil cooled investor response to a merger between US retail giants Kmart and Sears, Roebuck and strong economic data.
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Investors finally decide between Wal-Mart and Target.
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Kmart Holding Corp. reported its fourth straight quarterly profit Wednesday, but most investors&#39; focus was on the discount retailer&#39;s $11 billion acquisition of Sears, Roebuck and Co.
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Wall Street stocks rose moderately Wednesday as investors cheered the merger deal that combined retailers Kmart Holding Corp. and Sears, Roebuck and Co.
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GRAND RAPIDS, Mich. Kmart&#39;s pending acquisition of Sears has a number of suppliers wondering how it will affect their business.
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U.S. stocks ended higher on Wednesday  after Kmart's plan to buy Sears in an $11.5 billion deal was  announced and computer maker Hewlett-Packard Co. HPQ.N posted  solid earnings.
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Stocks jumped on Wednesday on news of  a merger between retailers Kmart and Sears,  better-than-expected earnings from computer maker  Hewlett-Packard and government data showing a moderate rise in  a key U.S. inflation measure.
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HOFFMAN ESTATES, Ill. Sears, Roebuck and Company&#39;s stock is surging today on news that a real estate investment trust purchased a four-point-three percent interest in Sears.
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TOLEDO -- Attention Kmart shoppers, the discount retailer is buying Sears. Wednesday, Kmart Holding announced its $11 billion purchase of Sears Roebuck.
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The discount retailer Kmart announced yesterday an $11bn (Â£5.9bn) acquisition of Sears Roebuck, bringing two of the best-known names in American retailing under one roof.