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Target Selling $5.9B Consumer Credit Portfolio to TD Bank

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  • Description

    FBN's Tracy Byrnes breaks down afternoon market news.

  • Duration 0:58
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I'm Tracy -- with -- Fox Business -- for the bearish tone on Wall Street continues after big name companies reported weak quarterly earnings.

And lower their forecast for the rest of the year.

Right now the Dow was down 218 points.

Target it's selling its nearly six billion dollar consumer credit portfolio to TD bank.

The retail giant expects to use roughly 90% of the proceeds of -- sale to repay debt.

And the rest for stock repurchase.

TD -- also take over all -- target credit cards and targeted these operations for seven years.

Curt -- -- -- video game company 38 studios begins its second asset auction today.

2100 items are being offered including several prince autograph by the former Red Sox and -- -- 38 studios defaulted on -- 75 million dollar loan guarantee back in 2010.

That's -- latest from Fox Business Network giving you the power to prosper.

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