U.S. stocks slumped, with the Dow Jones Industrial Average sliding to the lowest close in a month, while Treasuries rose after a gauge signaled contraction in Chinese manufacturing. Emerging-markets equities slipped and the dollar retreated while gold and natural gas climbed.
American Eagle Outfitters Inc., the the struggling teen-apparel retailer, said Chief Executive Officer Robert Hanson is leaving the company and Executive Chairman Jay Schottenstein will replace him on an interim basis.
Retail sales probably rose in November by the most in five months as Americans bought cars and took advantage of discounts going into the holiday-shopping season, economists said before a report today.
Companies from DreamWorks Animation SKG to American Eagle Outfitters Inc. are attractive takeover targets because they have cash-heavy balance sheets and their stocks have declined, said Morningstar Inc.