The proposed acquisition of ITC Holdings Corp. (NYSE:ITC) by Fortis Inc. is being investigated by WeissLaw LLP for possible breaches of fiduciary duty and other violations of law by the Board of Directors of ITC. On February 9, 2016 the Company announced it had reached a definitive agreement for Fortis to acquire ITC in a transaction valued at approximately $11.3 billion, inclusive of debt. Under the terms of the agreement, shareholders of ITC will receive $22.57 in cash and 0.7520 of a Fortis share for each ITC share they own; representing a total per share consideration of $44.90.
ITC Holdings Corp. (NYSE:ITC) belongs to Utilities sector. Its net profit margin is 29.40% and weekly performance is 3.10%. On last trading day company shares ended up at $41.75. ITC Holdings Corp. (NYSE:ITC) distance from 50-day simple moving average (SMA50) is 6.28%.
CytRx Corporation (NASDAQ:CYTR), announced that David Haen, Vice President of Business Development and Investor Relations, will present a corporate update at Cowen and Company’s 36th Annual Health Care Conference on Wednesday, March 9th at 10:40 a.m. Eastern Time. The conference will take place at the Boston Marriott Copley Place.
CytRx Corporation (NASDAQ:CYTR) shares moved up 1.11% in last trading session and ended the day at $2.73. CYTR return on assets is -66.50%. CytRx Corporation (NASDAQ:CYTR) quarterly performance is -12.78%.
Gap Inc. (NYSE: GPS) announced that its Board of Directors approved a new $1 billion share repurchase authorization for the company’s common stock, superseding the existing authorization dated February 26, 2015.
On 02 March, The Gap, Inc. (NYSE:GPS) shares increased 0.75% and was closed at $28.37. GPS EPS growth in last 5 year was 12.70%. The Gap, Inc. (NYSE:GPS) year to date (YTD) performance is 15.94%.
Kohl’s Corp. (NYSE:KSS) says it will close a small fraction of brick-and-mortar stores as it meets the needs of its online customers. Kohl’s closure of 18 stores this year is a shift away from its aggressive expansion of stores in recent years across the country. CEO Kevin Mansell says the stores to be closed account to less than 1 percent of the company’s sales. Kohl’s has not announced which stores will be involved.
Kohl’s Corp. (NYSE:KSS) ended the last trading day at $46.64. Company weekly volatility is calculated as 3.45% and price to cash ratio as 17.67. Kohl’s Corp. (NYSE:KSS) showed a weekly performance of 2.60%.
The struggling parent of Sears Holdings Corp., (NASDAQ:SHLD) and Kmart stores laid off 250 people Thursday after another dismal financial report. The cuts by Sears Holdings included 200 people at the company’s Hoffman Estates headquarters. In addition, 151 jobs open in Hoffman Estates will not be filled. Full-time employees who were laid off will receive severance.
Sears Holdings Corporation (NASDAQ:SHLD) shares increased 3.15% in last trading session and ended the day at $17.71. SHLD Gross Margin is 24.00% and its return on assets is -5.40%. Sears Holdings Corporation (NASDAQ:SHLD) quarterly performance is -19.97%.