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Google Business NewsJun 19, 2019
Lakers should not be 2020 favorites, and they probably botched the fine print in the Anthony Davis trade - CBS Sports
Lakers should not be 2020 favorites, and they probably botched the fine print in the Anthony Davis trade  CBS SportsSources -- Lakers hustling to create max salary slot  ESPNNBA Execs Skeptical Lakers Can Build a Title Team After Anthony Davis Overpay  Bleacher ReportLakers remain a thriving financial ‘gold mine' in competitive L.A. sports market  Los Angeles TimesGentille: Of course the Penguins should trade away their first-round pick  The AthleticView full coverage on Google News

MarketWatch MarketPulseJun 19, 2019
Sycamore cuts buyout bid for Chico's by 14%, cites 'deteriorating' performance
Private equity firm Sycamore Partners said Wednesday it was revising down its buyout bid for Chico's FAS Inc. by 14%, saying the women's apparel retailer has declined engage in discussions despite continued poor performance. Sycamore said it would pay $3.00 for each Chico's share outstanding, down from a previous bid made last month for $3.50 a share. The stock rose 3.2% in afternoon trade, after closing Tuesday at $3.11, or the lowest level since December 2008. Since Sycamore made its previous offer on May 10, the stock has tumbled 19.5%; on June 11, Chico's beat fiscal first-quarter profit and net sales expectations, but missed on same-store sales and cut its outlook. "Engaging with us so we can perform our due diligence will create an attractive and certain alternative for your shareholders, which we believe is in their best interest given the company's deteriorating performance and share price," Sycamore Managing Director Stefan Kaluzny wrote in a letter to Chico's Chairman David Walker. Chico's stock has tumbled 62.0% over the past 12 months, while the SPDR S&P Retail ETF has lost 15.4% and the Dow Jones Industrial Average has gained 7.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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