The US markets have rebounded off their mid-morning lows with the Dow Jones Industrial Average and the S&P 500 now trading in the green, but once again, the tech-heavy Nasdaq continues to lag other sectors.
In corporate news, Jos. A. Bank (NASDAQ:JOSB) announced it has proposed to acquire the Men's Wearhouse (NYSE:MW) in a deal worth $2.3 billion. Shareholders would receive $48 per share in cash, a premium of about 42% over the stock's closing price on September 17th -- the day the two companies initially spoke of the deal. And Ariad Pharmaceuticals (NASDAQ:ARIA) is off nearly 70% following the report that the company was forced to suspend patient enrollment into its clinical studies program for its leukemia drug.
After the bell on Wednesday, investors will see earnings reports from Ruby Tuesday (NYSE:RT) and VOXX International (NASDAQ:VOXX). And before the bell on Thursday, investors will see earnings from Blackhawk Network Holdings (NASDAQ:HAWK) and Lindsay Corp. (NYSE:LNN).
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