Wal-Mart, BJ's, J.C. Penney among retail winners
Retailers gained ground as the Senate moved to extend unemployment benefits.
By Jeanine Poggi, TheStreet
Retailers were rallying as the Senate made moves to extend unemployment benefits, which could provide a boost to dwindling consumer confidence.
The S&P Retail Index was rising 1.9% to 399.46, led up by safety stock Wal-Mart (WMT).
Elsewhere in the discount sector, BJ's Wholesale (BJ) climbed on renewed takeover chatter. Shares of the company closed 2.5% higher to $44.91.
Cowen & Co. said shares of the company are attractively priced, falling 26% since its first-quarter earnings report. And with just over 300 full-line stores and factory outlets, its small brick-and-mortar base also means J.Crew has plenty of growth opportunities.
RadioShack (RSH) was one of the few retailers in the red, as the potential for a buyout waned. Reuters reported that two private-equity groups, Blackstone Group (BX) and TPG Capital, are unlikely to unlikely to pursue a potential bid for the retailer, citing sources familiar with the matter.
Shares of RadioShack tumbled 6.6% to close at $20.05.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
Do it once a year. This allows the best-performing asset classes to take off and run.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.