Days after the Wall Street Journal reported that talks between the company and Hudson's Bay (HBAYF) had stalled, Neiman Marcus announced today that it has discontinued any potential talks regarding a full or partial sale of its business.
The high end retailer had announced earlier this year that it was seeking strategic alternatives amid a challenging retail environment.
Hudson's Bay shares were down 12 cents, or 1.37%, to $8.62 in afternoon trading Tuesday.
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Nvidia underwent a "key reversal" on Friday that could send the stock plunging another 36%, BMO technical analyst Russ Visch said in a new note. Visch points out that normally, these pullbacks tend to lead to the stock falling back to its 200-day moving average. In the case of Nvidia, the 200-day moving average is $96.70, or $36% below Monday's closing price of $149.97. "Considerable downside risk exists here," said Visch.
On Friday, shares of Nvidia were off to another big rally, hitting new all-time highs of $168.50 following an analyst pontificating the stock could surge to $300. But the party abruptly ended Friday afternoon and continued into most of Monday's trading session. The reversal in one of the hottest tech stocks around spooked the market, pressuring shares of other high-flyers in the space such as Amazon (AMZN) - Get Report and Apple (AAPL) - Get Report .
Apple and innovation: The reality of the here and now is that the public and would-be buyers of Apple's stock harbor greater doubts about Apple's ability to innovate than in many years, reportsTheStreet. Apple did nothing to quiet those concerns by introducing its new voice activated speaker, sources explained to TheStreet.
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