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Market Update

U.S. Movers: Jos. A. Bank, Piedmont Natural Gas, Seagate, Tiffany, Target


Author: Mukesh Buch
ticker.com
Last Update: 11:44 AM ET December 23 2013

11:20 AM New York Jos. A. Bank Clothiers rejected acquisition offer from Men''s Wearhouse. Piedmont Natural Gas net climbed 12%. Regency Energy agreed to buy midstream business of Eagle Rock Energy for $1.3 billion. Seagate agreed to acquire Xyratex for $374 million.

Jos. A. Bank Clothiers Inc (JOSB) slipped 1.2% or 70 cents to $56.32 after the apparel and accessory retailer rejected $1.5 billion acquisition offer from rival Men''s Wearhouse Inc.

Piedmont Natural Gas Company, Inc (PNY) fell 21 cents to $33.14 after the energy services company reported revenue in the year ending in October jumped 14% to $1.28 billion. Net income in the quarter climbed 12% to $134.4 million or $1.78 a diluted share compared to $119.8 million or $1.66.

Regency Energy Partners LP (RGP) climbed 4.8% or $1.16 to $25.35 after the natural gas transporter agreed to buy the midstream business of Eagle Rock Energy Partners LP for about $1.3 billion.

Seagate Technology Plc (STX) rose 38 cents to $56.02 after the hard-disk drive maker agreed to acquire Xyratex Ltd. in cash transaction valued at $13.25 a share or a total consideration of approx $374 million.

Tiffany & Co (TIF) gained 11 cents to 90.65 and the jewelry chain was ordered by U.S. arbitration panel to pay Switzerland-based The Swatch Group Ltd $448 million over a failed joint venture. Swatch Group had canceled the joint operation after the two companies disagreed in 2011.

Target Corporation (TGT) dropped 1.1% or 68 cents to $61.80 and the discount retailer is facing lawsuits over the data breach in three states after hackers collected 40 million credit card accounts of shoppers between November 27 and December 15.

Target Corporation has confirmed credit card theft.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc