1.
U.S. markets recover from steep losses
CINCINNATI, March 28 (UPI) -- Federated Department Stores Inc. plans to use the single letter "M" as its symbol when it begins trading as Macy's Inc. on the New York Stock Exchange.
The Cincinnati department-store retailer said Wednesday it was changing its name to Macy's Inc. June 1 rather than the Macy's Group Inc. it announced in February because the one-letter symbol was available.
Its decision assumes shareholders approve a corporate name change at Federated's annual meeting May 18, it said.
"Changing the parent company name to Macy's Inc., while trading our shares under the 'M' ticker symbol, will make it simple and clear for all investors to understand we are a brand-driven and consumer-oriented company," Chief Executive Officer Terry Lundgren said.
Federated announced its intent to change its name to Macy's as part of a plan to transform Macy's into a national brand.
Federated's shares have traded under the ticker symbol "FD" since 1992.
|
|
|
|
|
|
| Additional Business News Stories | |
CANBERRA, Australia, May 23 (UPI) --
Australia has passed legislation establishing the $10 billion Clean Energy Finance Corp. to provide grants and government investment to green projects.
|
ORLANDO, Fla., May 23 (UPI) --
The U.S. Air Force has added Lockheed Martin to its list of companies for support of its medical services worldwide.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
