Why Nordstrom, South Jersey Industries, and Sears Holdings Slumped Today

Monday was a good day for the stock market, with the Dow setting yet another all-time high. Early results from earnings season have been positive, and even though key domestic economic agenda items like healthcare and tax reform remain somewhat uncertain, investors appear confident that something will be accomplished in the near future. Even though the overall mood in the market was favorable, some bad news from several stocks helped keep enthusiasm in check. Nordstrom (NYSE: JWN), South Jersey Industries (NYSE: SJI), and Sears Holdings (NASDAQ: SHLD) were among the worst performers on the day. Below, we'll look more closely at these stocks to tell you why they did so poorly.

Shares of Nordstrom fell 5% after the high-end retailer said that members of the Nordstrom family have suspended their active exploration of making an offer to take the company private. A news release said that the decision should foreclose further discussion until the end of the year, but that the Nordstrom family could make a proposal after the holiday season ends. The pre-holiday season is always a busy one in the retail industry, and it has proven more difficult than many had hoped for the family to get the outside financing necessary to get a deal done. Some think that the news will permanently end progress toward a deal, while others genuinely believe that 2018 will bring a concrete proposal.

Image source: Nordstrom.

Source: Fool.com