U.S. markets opened slightly higher Wednesday following deal news from Anheuser Busch and SABMiller, while Macy’s (M) shares plunge after cutting full-year sales. Kroger (KR) has made an offer to buy Roundy’s (RNDY) for $800 million. Roundy’s shares soared 63% on the news. The deal is expected to close by the end of the year. Macy’s (M) is heading into the holiday season on a weak note. It cuts its guidance for the year and says it won’t pursue a spinoff of its real-estate assets. Macy’s executives say U.S. shoppers aren’t spending as much and there’s been a slowdown in international visitors to its stores. Meanwhile, J.C. Penney (JCP) stock soared after sales beat expectations and a lawsuit was settled. The settlement was related to a class action lawsuit that alleged false advertising. Anheuser Busch (BUD) and SABMiller have agreed on a merger price of $105 billion. Alibaba (BABA) says more than 27 million Chinese bought international products, which was a record.
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