Stocks mixed…Kate Spade mourned…Rawlings is sold
NEW YORK (AP) – Stocks are mixed after posting solid gains over the last two days. Technology companies and consumer-focused companies rose further and the smallest companies were also making gains. Banks slipped as bond yields decreased and health care companies also fell. Twitter rose after being added to the S&P 500 index.
NEW YORK (AP) – Oil prices are mixed. Crude recently hit a three-year high but has declined sharply over the past two weeks. U.S. crude picked up six-tenths of one percent in New York. Brent crude, used to price international oils, lost 0.5 percent in London.
NEW YORK (AP) – Kate Spade New York says the fashion designer will be “dearly missed.” The company says in a statement that while Spade had not been affiliated with its “beloved brand” for more than a decade, she and her husband were its founders, and the news of her death is “incredibly sad.” The company says its thoughts are with the Spade family. Law enforcement officials say a housekeeper found the fashion icon dead in her apartment in an apparent suicide this morning.
NEW YORK (AP) – Lord & Taylor is abandoning plans to keep a store in the Fifth Avenue flagship it is selling, as the chain’s owner closes more stores and focuses on online sales. The announcement comes about seven months after the company said it would sell the century-old building to office space sharing company WeWork. Hudson’s Bay Co., which also operates Saks Fifth Avenue and other stores, said it expects to close up to 10 of its nearly 50 Lord & Taylor stores through 2019.
NEW YORK (AP) – The 131-year-old Rawlings Sporting Goods Co. is being sold to a private equity fund for about $395 million. The iconic sports gear maker, which has outfitted children and pros alike, from Roberto Clemente and Mickey Mantle, to Bryce Harper, Kris Bryant and Giancarlo Stanton, is being acquired by a fund managed by Seidler Equity Partners. Major League Baseball is a co-investor.