Nordstrom (JWN.US) shares are gaining more than 10% in today's session following reports that the store chain is trying to go public and become a private company. The chain's founding family is working with Morgan Stanley to determine whether private equity firms are interested in a deal.
According to Reuters, however, the deal may not go through, given that a previous attempt to go public failed in 2018.
The company's stock price is moving in an apparent long-term downtrend. Earlier this month, the company presented grim sales forecasts for 2024.
Source: xStation 5
Daily Summary: A Shallow Rebound Ahead of Earnings Season
Lumentum: Demand for AI infrastructure exceeds capacity
US OPEN: Trump de-escalates, OpenAI supports Wall Street sentiment
Morning Wrap: OpenAI Revenue Concerns Weigh on Wall Street