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Why did Sequential Brands Group saw a 89% increase?
About the Company
Sequential Brands Group, Inc., which includes the AND1 brand, owns, promotes, markets, and licences a portfolio of consumer brands in the lifestyle and active sectors. Sequential employs excellent brand management and marketing teams to guarantee that its brands continue to flourish and develop. Sequential has licenced and plans to licence its brands to retailers, wholesalers, and distributors in the United States and across the world in a number of consumer sectors.
Image source: https://www.sequentialbrandsgroup.com/
Recent News
The Jessica Simpson, Joe’s Jeans, and Gaiam labels are among the company’s consumer brands. Sequential Brands voiced reservations about its capacity to continue as a going concern in April. It said a week ago that a waiver under its credit arrangement had expired and that it was in negotiations with lenders about obtaining another waiver.
U.S. stocks were higher after the close on Friday, as gains in the Technology, Consumer Services and Healthcare sectors led shares higher.
At the close in NYSE, the Dow Jones Industrial Average gained 0.44% to hit a new all time high, while the S&P 500 index climbed 0.75%, and the NASDAQ Composite index climbed 0.81%.
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The best performers of the session on the Dow Jones Industrial Average were Microsoft Corporation (NASDAQ:MSFT), which rose 2.22% or 6.02 points to trade at 277.62 at the close. Meanwhile, Apple Inc (NASDAQ:AAPL) added 1.96% or 2.69 points to end at 139.96 and Johnson & Johnson (NYSE:JNJ) was up 1.83% or 3.03 points to 168.99 in late trade.