Sears' (SHLD) demise would be welcomed by some mall operators who say they could lure better quality stores to their facilities. But who else stands to benefit, if the venerable department store does file for bankruptcy with plans to liquidate? Competitors like Burlington (BURL) , TJX Cos. (TJX) and Macy's (M) may see some moderate gains in the future, despite a potential short-term squeeze from a liquidation sale, explains Real Money's Kevin Curran. "Competitors will feel a pinch once bankruptcy comes, but in the long term this will leave a healthier sector," Stacey Widlitz, President at SW Retail Advisors told Kevin earlier this week. "Sears' market share is crumbs, but however small their market share is, it has to go somewhere." Shareholders of Seritage Growth Properties (SRG) , a REIT that owns much of Sears' real estate may want to temper their expectations after a bankruptcy. Despite the fact that Seritage has enjoyed nice returns as Sears has trudged toward going out of business, a Sears bankruptcy could flood an already saturated commercial real estate market still absorbing Toys 'R' Us store leases.
Amid the market volatility of the last few days, some Apple (AAPL) news came and went with little fanfare. The company announced it would buy part of supplier Dialog Semiconductor in a $600 million deal, the two companies said Thursday, Oct. 11. The deal comes almost a year after Dialog lost a significant amount of its market capitalization on reports that Apple, which accounts for more than 70% of its revenues, could begin designing its own power-management chips, writes The Deal's Chris Nolter. Under the agreement Apple will license certain of Dialog's power management technologies. Dialog will also transfer some of its assets and more than 300 employees to Apple.
Markets Today: Big shouts to banks for bailing out the markets Friday. Oh, the irony. Stocks ended higher in a volatile session on Friday, Oct. 12 that saw major indexes open strong before giving up much of the day's gains in the middle of the day. Wall Street digested earnings from JPMorgan Chase & Co. (JPM) , Citigroup C and Wells Fargo (WFC) , which were mostly strong. The Dow Jones Industrial Average rose 287 points, or 1.15%, to 25,340. For the week, the Dow was off more than 1,000 points, or 4.2%. The S&P 500 gained 1.42%, ending a six-day losing streak. The Nasdaq ended up 2.29%.
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