Cowen Largely Positive on Macy's (M) CEO Succession Plans; Affirms at 'Market Perform'

Stifel Positive on Macy's (M) CEO Transition; Affirms at 'Hold'

June 23, 2016 10:56 AM EDT

Stifel affirms Macy's (NYSE: M) at Hold following news that CEO Terry Lundgren will step down in early 2017.

Analyst Richard Jaffe commented today, We anticipate the transition to be seamless as Gennette and... More

Longtime Macy's CEO Lundgren to step down next year

June 23, 2016 9:13 AM EDT

By Sruthi Ramakrishnan

(Reuters) - Macy's Inc (NYSE: M) said Terry Lundgren will step down as CEO next year and be succeeded by former chief merchandising officer, Jeff Gennette, as the department store operator tries to revive sales hit by competition from online and off-price retailers.

Macy's shares rose as much as 5 percent on Thursday on hopes that the change will breathe life into the venerable retailer, which has reported falling sales for the last five quarters.

Lundgren, 64, who has been the company's CEO for more than 13 years,... More

Macy's (M) CEO Lundgren to Step Down in Q117; Successor Named

June 23, 2016 9:01 AM EDT

Macys, Inc. (NYSE: M) announced that Terry J. Lundgren, the companys CEO since 2003 and Chairman since 2004, will transition the position of CEO to Jeff Gennette in the first quarter of 2017. The transition is part of the board of directors succession plan that included Gennettes election as President of Macys, Inc. in 2014. Beyond the first quarter of 2017, Lundgren will continue as Executive Chairman of the company and work side-by-side with Gennette as President and CEO.

Gennette will join the Macys, Inc. board of directors, effective today bringing the size of the... More

Worst day in 10 months as Wall Street reacts to 'Brexit'

June 23, 2016 7:40 AM EDT

By Rodrigo Campos

NEW YORK (Reuters) - The S&P 500 turned negative for the year-to-date on Friday as Wall Street suffered its largest selloff in 10 months after Britain's decision to leave the European Union caught traders wrong-footed.

In the busiest trading volume for a single session in nearly five years, financial stocks led the decline on the S&P 500 with a 5.4 percent drop -the largest for the sector since November 2011.

The S&P 500 lost all the year's gains and suffered its largest decline since late August last year.

Equity futures neared an 11-month... More

Stocks with Implied Volatility Movement

June 23, 2016 5:10 AM EDT

Macys (NYSE: M), Electronic Arts (NASDAQ: EA) implied volatility is below its IV index mean

... More