This Day On The Street
Continue to site
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

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

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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $126.00 0.00%
FB $87.55 0.00%
GOOG $522.86 0.00%
TSLA $279.72 0.00%
YHOO $38.61 0.00%

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs