(Reuters) - Shares of department store operator Macy's, known for its Macy's and Bloomingdale's chains, climbed as much as 8.1 percent before closing 5.6 percent higher at $41.99. Target ended up 6.1 percent to a new closing high of $68.10.
Analysts said Macy's investors seemed to be positioning for a possible merger, reflected by a sharp rise in the department store's options call volume, as old rumors of a deal resurfaced.
Read more at Reuters.com Mergers News
Analysts said Macy's investors seemed to be positioning for a possible merger, reflected by a sharp rise in the department store's options call volume, as old rumors of a deal resurfaced.
Read more at Reuters.com Mergers News
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