Sears, Kmart Drop Trump Lines; Stocks Trade at Records: Midday Report

Stocks trade above record highs set on Friday as good vibes over the potential Trump tax reform plan are sustained over the weekend.

Author:: Keris Alison Lahiff
Publish date:: Feb 13, 2017 12:10 PM EST

Stocks traded above record highs set Friday as good vibes over the potential Trump tax reform plan were sustained over the weekend. Should gains hold, indexes will close at records for their third straight session.

Trump-branded products continue to face the brunt of a divisive election campaign. Sears (SHLD) and Kmart announced they would drop 31 Trump Home lines due to weak profitability, following in Nordstrom's (JWN) - Get Report footsteps last week.

Allergan (AGN) - Get Report rose after agreeing to acquire Zeltiq Aesthetics (ZLTQ) , a company specializing in fat-reduction technology. The nearly $2.5 billion deal is expected to close in the second half of this year.

Williams-Sonoma (WSM) - Get Report was downgraded to market perform from outperform at Telsey Advisory. Analysts said promotional activity is increasing and a turnaround at Pottery Barn could take longer than expected.