Stocks In The News: KSS, HAPP, EXPR
3:09 pm Wednesday, May 25th, 2022
Kohl’s (NYSE:KSS) stock is rallying higher on Wednesday as investors react to an update about the company’s plan to sell itself. According to recent reports, Kohl’s is moving forward with these plans and is close to signing binding agreements with bidders. The exact details of the deal are still unknown, but insiders claim the bids are 10% to 15% lower than the initial ones made. That makes sense considering the current state of the economy. Inflation continues to weigh on the minds of consumers and that’s having an effect on retailers. Several have already cut guidance in preparation for weakened demand this year, CNBC notes.
Happiness Development (NASDAQ:HAPP) stock is charging higher on Wednesday after the Chinese nutrition company announced plans to develop electric vehicles (EVs). The EV announcement today comes alongside news that the company already has an order for its planned EVs. This has Fujian Yiluba Automobile Service Consulting agreeing to purchase up to 2,000 EVs from Happiness Development subsidiary Taochejun.
Express (NYSE:EXPR) stock is rising higher on Wednesday after the fashion retailer reported results for the first quarter of 2022. The good news for EXPR stock starts with adjusted earnings per share of -10 cents. While that’s still a loss, it’s better than the -15 cents per share that Wall Street was expecting. It’s also an improvement over the -58 cents per share reported during the same time last year.
