This morning JP Morgan (NYSE:JPM) downgraded shares of Saks Inc. (NYSE:SKS) to neutral from overweight. Yesterday over 40 million shares of Saks were traded with shares up $1.30 on buyout rumors.
Shares of Saks are lower by 6.2%.
Brown-Forman Corporation (NYSE:BF.A) (NYSE:BF.B) posted net income of $111.4 million versus $121.4 million a year ago, or an 8% decline. Diluted EPS were $0.76 verus $0.81 last year, or a 6% decline.
Brown Forman shares are lower by about 5.5%.
Charming Shoppes (NASDAQ:CHRS) said net sales for the three months ended July 31 decreased 1.8% to $517.6 million, compared to $527.2 million for the three months ended August 1, 2009. Gross profit decreased 5.6%. Adjusted EBITDA was $10.3 million in the quarter, reflecting a decrease of 65.2% compared to the prior year period, primarily related to decreases in gross profit.
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