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Stocks to Watch: Sabre Launches Hostile Bid for Travelocity

 

Updated from 10:59 a.m. EST

  • Sabre Holdings (TSG Quote) launched a hostile bid to acquire the shares of Travelocity.com (TVLY Quote) it doesn't already own. The move came after Travelocity decided that Sabre's $23-a-share offer was inadequate. Sabre owns about 70% of Travelocity, and will now take its offer directly to shareholders of the online travel services company.

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  • Chico's FAS (CHS Quote) posted fourth-quarter earnings of 23 cents a share, 3 cents ahead of the estimate. Sales climbed 38.6% to $101.4 million. Same-store sales for company-owned stores increased 17.9% for the quarter.

  • CVS (CVS Quote) said same-store sales for the four weeks ended Feb. 23 rose 9.5%. Pharmacy same-store sales increased 11.6%, while front-end comparable sales climbed 5.7%. Total sales for the period rose 10% to $1.87 billion. Pharmacy sales represented 66.3% of the company's total sales in February. ...

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