Shares of Roku (NASDAQ: ROKU) were up 5.9% as of 1:49 p.m. ET on Wednesday. The stock was rebounding after a sudden drop the day before when social media company Snap cut its financial guidance for the second quarter. Both Roku and Snap make the bulk of their revenue from advertising, so investors took Snap's revised guidance as a red flag about near-term ad spending. Read More...
Motley Fool
Why Kohl’s Stock Was Soaring Today
Shares of Kohl’s (NYSE: KSS) were jumping today as the struggling department store chain took the next step in selling itself, with some potential offers reportedly ranging up to $62 a share. Reuters reported this morning that many of the potential bidders were considering lowering their buyout offer price given market conditions amid the pullback in retail stocks last week and the broad market this year. Among the bidders are Sycamore Partners, Franchise Group, Simon Property Group and Brookfield Asset Management (the mall REITs that took over JCPenney), and Acacia Research, which had offered $64/share for Kohl’s back in January, though that offer was rejected.
