This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

[video] Twitter Shares Tumbles, Men's Wearhouse Tries on New Bid for Joseph A Bank

Stocks in this article: TWTR MW JOSB

The video this transcript is based on appeared on January 6.

NEW YORK ( TheStreet) -- Jos. A. Bank (JOSB) looks good to Men's Wearhouse (MW) , so the suit maker is making yet another hostile bid in its attempt to take over the company that tried to buy it in 2013. After a successful IPO, volatility is weighing on Twitter's (TWTR) stock, which is off as we head into the open.

VIDEO TRANSCRIPT:

Good morning live from the Nasdaq MarketSite in Times Square. For TheStreet, I'm Jon Marino with your global markets update on Monday, January 6. At this hour, U.S. futures are treading water in advance of the open. Taking a look at international trading on our foreign markets panel right now, at midday the FTSE is just about break-even. Also at midday the DAX is up three-tenths of a point. The CAC-40 up one-tenth of a point at midday, and at the end of a rough trading day the Nikkei is off more than two full points wrapping up its session.

Kicking it off on the Nasdaq wall it looks like the bidding saga between Men's Wearhouse and Joseph A Bank will continue in the new year. Earlier this morning Men's Wearhouse revealed it is increasing its hostile bid for competitor Joseph A Bank from $55 a share to $57-60. That hasn't yet been priced into Joseph A Bank shares, look for that stock to gain a few points at the open.

Back at the Nasdaq wall, what goes up, must come down, especially if it hasn't even reported one quarter of earnings yet. Twitter stock is off this morning by more than three points. This coming after a 50 percent run up in shares after its IPO and a Friday where it tacked on two more points, closing in on $70 a share. With earnings on the way, as well as employee and investor lockup expirations, look for more volatility with this stock in the near term.

Closing out our stocks this morning, an action alert pick from Jim Cramer. It's the number one position in his portfolio, and he says, for good cause. Jim is targeting $1,135 a share for Google stock, which, he points out, has $152 a share in cash. But at 19 times forward estimates, the search king is a bargain compared to Facebook. Cramer still bullish on Google stock and hoping for a big 2014.

That's all for us today, but be sure to check out breaking news and analysis all day at TheStreet.com. At the Nasdaq MarketSite, I'm Jon Marino, have a great day.

Written by Jon Marino in New York.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs