SIMON PROPERTY GROUP

Authorities said Monday morning that they were searching the home of a man they say opened fire with a rifle in a mall food court in Greenwood, Ind., on Sunday.

CNBC spoke with Simon Property Group CEO David Simon about this weekend's event, the state of the retail industry and the American consumer.

"We need to high-grade our accidental high-yielder portfolio," the "Mad Money" host said Monday.

Kohl's shares rose more than 4% on the news Monday.

Kohl's shares rose more than 4% on the news Monday.

Get a classic photo with Santa this month at Briarwood Mall.

Mall owner Simon Property Group is a high-yielding, under-the-radar way to benefit from greater retail spending, says Tocqueville's John Petrides.

The Tree Town mall is among eight properties owned by commercial real estate company Simon Property Group to receive the distinction for its green efforts.

Real estate investment trusts are rebounding due to the recession recovery and a concern about inflation and potentially higher interest rates.

Simon Property Group saw sales at its shopping malls and outlet centers bounce back to pre-pandemic levels in its latest fiscal quarter.

See which stocks are posting big moves after the bell.

Operator of more than 100 malls around the U.S. goes bust despite cutting executives' pay and furloughing workers.

"Mad Money" host Jim Cramer said Tuesday the he sees a "stampede" of bull cases helping lift the market higher during the Covid recovery.

Mall owner Simon Property says shoppers are getting back to malls, but that it's hard to predict what traffic trends are going to look like one year from now.

These stocks posted the largest moves after the bell on Monday, May 10.

Briarwood Mall is calling on consumers to return unwanted items directly to stores.

"The [retailers] that want to grow their business are excited," CEO David Simon said Monday evening during a call with analysts. "The healthy retailers that believe in their business — believe in their plans — are making deals." Total revenue fell by about 24% to $1.13 billion, from $1.49 billion a year ago. Simon's funds from operation for the three-month period amounted to $2.17 per share, down from $2.96 per share a year ago. Simon's occupancy rate at the end of the year was 91.3%, a tick down from 95.1% a year ago.

Instead, Gennette said the department store retailer would continue to invest in its locations in A-rated malls, as it closed at other underperforming properties. Green Street now estimates the values of A-rated malls have tumbled about 45% from 2016 levels, which peaked following a runup after the Great Recession. There are about 250 of them, representing a quarter of America's roughly 1,000 shopping malls, by Green Street's count. "Mall values had a very strong recovery out of the global financial crisis," Green Street senior retail analyst Vince Tibone said in an interview. The biggest risk in the coming years is not for A-rated malls, however, but for B- and C-rated malls, Green Street said.

J.C. Penney CEO Jill Soltau, who was tapped to turn around the struggling department store, will leave the company Thursday. The Plano, Texas-based retailer filed for bankruptcy in May. It was bought by the two U.S. mall owners in the fall and emerged earlier this month. She previously served as CEO of fabric and craft retailer, Joann Stores. The licensing firm owns stakes of other retailers that have emerged from bankruptcy, including Brooks Brothers and Forever 21.

Macy's could face more temporary store closures as coronavirus cases rise rapidly across the U.S., impeding its recovery and the all-important holiday shopping season, executives said Thursday. "Covid is surging again across the country," CEO Jeff Gennette said Thursday during a post-earnings call with analysts. Macy's said its flagship stores like its Herald Square location in New York City have been hit the hardest during the pandemic. Gennette said Macy's is monitoring other communities closely, and has a strategy to work through additional store closures. The retailer's sales have declined with fewer people visiting its stores for work clothes, prom dresses and wedding gowns in 2020.

Shoppers ascend and descend escalators at the King of Prussia Mall, owned by Simon Property Group, United State's largest retail shopping space, in King of Prussia, Pennsylvania. Under the new deal, Simon will now pay $43 per share for Taubman, down roughly 18% from an original price of $52.50. Simon and Taubman were set to face each other in Oakland County Superior Court in Michigan, beginning Monday, to negotiate the contested deal. Two mall owners — CBL and Pennsylvania Real Estate Investment Trust — filed for Chapter 11 bankruptcy protection earlier this month. With the new deal, Simon saves close to $800 million.

Shoppers ascend and descend escalators at the King of Prussia Mall, owned by Simon Property Group, United State's largest retail shopping space, in King of Prussia, Pennsylvania. Simon Property Group was asked this past weekend to close its Cielo Vista Mall in El Paso, Texas, again, as Covid-19 cases in the area are on the rise, Chief Executive David Simon said Monday. The United States topped 10 million coronavirus cases Monday, as global cases surpassed 50 million. "That's the only one," so far, Simon said about the Cielo Vista Mall, the largest mall in El Paso. With Brookfield, Simon is in contract to acquire most of Penney's assets, including its real estate, out of bankruptcy court.

However, he said, the mall owner has now decided to make cuts "to align with the future scale of our portfolio." Brookfield Properties' retail division employees about 2,000 people. Brookfield Properties has more than 170 retail properties in 43 states, according to its website, including Brookfield Place downtown in New York City and Fashion Show Mall in Las Vegas. A number of other retail real estate owners have felt similar pain. Tennessee-based mall owner CBL & Associates is expected to file for bankruptcy protection no later than Oct. 1.

NEW YORK The nation's biggest mall owner is backing out of a $3.6 billion deal to buy a major rival as the coronavirus pandemic shakes the retail economy. It is the second major retail deal signed just before the pandemic began to spread in the U.S. that has crumbled. Last month, a deal to sell Victoria's Secret to a private equity group fell apart. Simon owns or has a stake in 204 properties in the U.S. as of last year. Taubman Realty owns, manages or leases 26 shopping centers in the U.S. and Asia, including The Mall at Short Hills in New Jersey, and Waterside Shops in Naples, Florida.

ANN ARBOR Briarwood Mall announced that it will reopen on Thursday after closing its doors on March 19 over health concerns relating to the coronavirus outbreak. Mall officials published enhanced safety protocols developed with health experts in order to ensure heightened safety standards at the property. Employee safety protections including implementing the CDCs COVID-19 frequent hand-washing protocols, and offering personal protective equipment in addition to other CDC recommended practices. Briarwood Mall provides more than 2,000 jobs to members of the local community and contributes $2.8 million in property tax and $13.2 million of sales tax revenue to the state. According to property officials, these tax receipts fund essential community services, including infrastructure, education and health and safety services.

Stocks poised to benefit from economies reopening retail and real estate rolled over and dragged down the major averages. Hayes4:01 pm: Stocks close at session lows, Dow falls 450 pointsThe market ended the day on a sour note with the Dow Jones Industrial Average dropping about 450 points. Both funds were among the securities recommended by Ned Davis Research last week for investors looking to follow the Fed. The Dow fell more than 150 points before recovering slightly. Pound1:44 pm: Tech, reopening stocks slide in afternoonThe major indexes fell in afternoon trading as large tech stocks and stocks that would benefit from the reopening gave up earlier gains.

The biggest U.S. mall owner, Simon Property Group, said Monday that it plans to have roughly 50% of its properties reopened again within the next week, as states begin to loosen their lockdown restrictions during the coronavirus pandemic. Simon owns roughly 200 malls and outlet centers in the U.S., including Copley Place in Boston and Northgate Mall in Seattle. Simon started reopening some of its malls in states including South Carolina and Georgia on May 1, CNBC first reported. As of Monday, the company said it has reopened 77 of its properties in the U.S., where local lockdown restrictions have been eased. Some companies, such as Macy's, Gap and Nordstrom, have laid out their plans to reopen for business in phases.

Meantime, Simon said it will encourage shoppers to take their temperatures before going to the mall. Per the memo, Simon is also encouraging retailers and other tenants to use technology, such as Apple Pay, that allows for contactless transactions. That approach may work for retailers who sell higher ticket items, but would not likely work for other types of stores. Simon CEO David Simon also sits on President Donald Trump's committee of executives tasked to help reopen the U.S. economy. Here is the full list of the 49 locations set to reopen at the beginning of May:Read more of CNBC's coronavirus coverage here.

Simon Property Group, the largest owner of shopping malls in the nation, is closing all of its malls and retail properties because of the coronavirus outbreak. Mall and shopping center owners around the country are getting ready to come face to face with a major legal hurdle: Co-tenancy clauses. The coronavirus pandemic will accelerate the rate of permanent retail store closures, as sales shrink close to nothing with many shops temporarily shut to try to halt the spread of Covid-19. UBS is expecting there will be 100,000 stores permanently shut between now and the end of 2025. Store closures are nothing new.

Simon Property Group, the largest owner of shopping malls in the nation, is closing all of its malls and retail properties because of the coronavirus outbreak. Penney announced Tuesday it is furloughing the majority of its hourly store workers, effective Friday. It had previously started furloughing workers for its supply chain division and at its logistics centers. Ascena Retail Group, which owns Ann Taylor and Loft, said it is furloughing all of its store workers and half of its corporate staff. The layoffs and furloughs at Simon show the commercial real estate industry is not immune to this, either.

Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania. The biggest mall owner in the U.S. is close to wrapping up an $81 million deal to rescue teen apparel retailer Forever 21 out of bankruptcy court, the same week it announced its plans to acquire rival mall owner Taubman in a deal valued at $3.6 billion. With Taubman, Simon is doubling down on its thesis that the best and most profitable malls in America will survive, analysts say. The news comes as America's mall owners are faced with some of the most pressure they have ever seen, with retail store closures mounting and bankruptcies rising as more consumers shop online from their couches. Simon shares are down about 24% over the past 12 months.

Shoppers walk through the King of Prussia mall in King of Prussia, Pennsylvania. Taubman Centers shares skyrocketed Monday after the mall owner agreed to be bought by larger rival Simon Property Group in a deal valued at $3.6 billion. The companies said Simon plans to acquire Taubman's stock for $52.50 a share, or a 51% premium to where Taubman shares closed on Friday. Simon shares were up less than 1% in premarket trading. Among its properties are Copley Place in Boston, King of Prussia Mall outside Philadelphia and Town Center at Boca Raton in Florida.

Taubman Centers (TCO) Mall operator Simon Property Group (SPG) will buy rival Taubman for $52.50 per share in cash, or about $3.6 billion. Allergan (AGN) The drugmaker reported quarterly earnings of $5.22 per share, compared to estimates of $4.57 a share. Edgewell Personal Care (EPC) The maker of Schick razors reported quarterly profit of 55 cents per share, well above the consensus estimate of 29 cents a share. Restaurant Brands (QSR) The restaurant operator reported quarterly profit of 75 cents per share, 2 cents a share above estimates. Eli Lilly (LLY) Lilly and partner Genentech said their experimental therapy for a rare form of Alzheimer's disease missed its primary goal in a study.

CNBC's Jim Cramer said he's rethinking his negative view toward the fate of American shopping malls following Monday's announcement that Simon Property Group was buying rival Taubman Centers in a $3.6 billion deal. "I came away saying, I guess I'm just too negative on the thing I'm most negative about ... the future of the mall," Cramer said on "Squawk on the Street." Like Forever 21, the intimate apparel retailer is often located in shopping malls. Those two moves while still not final along with Simon's acquisition of Taubman run counter to the belief that shopping malls inevitably face continued decline in a period of shifting consumer preference, Cramer explained. Consumers have increasingly favored buying products online or at strip malls where it is easier to quickly enter, shop and then leave.

The biggest mall owner in the U.S., Simon Property Group, said it has its work cut out for it, as it makes a bid to salvage bankrupted apparel retailer Forever 21. "With Forever 21, we do think there is a business there," Simon CEO David Simon said Tuesday morning during a call with analysts. But if we are successful ... we will make money at Forever 21." "We would not be attempting to do Forever 21 for the sole purpose of maintaining our rent." In the case of Forever 21, CEO Simon said it was rapid expansion that pushed the company over the edge.

Forever 21 has reached an $81 million deal to sell its retail business to a group that includes Simon Property Group, Brookfield Property Partners and Authentic Brands. Forever 21 said in a bankruptcy court filing it is seeking approval to name the three as the lead, stalking-horse bidders in an auction. Forever 21 is planning to seek approval of the sale by Feb. 11. Authentic Brands in late 2019 bought the rights in bankruptcy court to the Barneys New York brand name. Read the Forever 21 court documents here.

Enter The Cheesecake Factory. But few restaurants are as dependent on the health of American malls as The Cheesecake Factory. After all, shopping center owner Simon Property Group has 41 Cheesecake Factory locations in its many malls throughout the country. So far, though, it hasnt been a great year for The Cheesecake Factory. The Cheesecake Factory is also looking to take advantage of two of the biggest trends in retail mobile shopping and delivery.

The CEO of the biggest mall owner in the U.S., Simon Property Group, says the retail industry looks to be "reaching the bottom" of a tumultuous wave of bankruptcies. The CEO's comments come on the heels of Forever 21 and Barneys New York, among other retail chains, filing for bankruptcy this year. The CEO also on Wednesday highlighted the real estate company's recent investments, including it taking a stake in online shopping site Rue La La's parent company, Rue Gilt Groupe. "We're going to be a better real estate operator the more we know e-commerce," Simon explained on the conference call. He also said none of Simon's investments have reached the "material" level, where the real estate investment trust would need to disclose more details on those ventures.

Bank of America says the gains for the S&P 500 this year are inBank of America says that "ongoing trade uncertainty" and "signs of macro deterioration" will keep the S&P at its current level for the rest of the year. Marketsread more

Secretary of State Mike Pompeo acknowledged on Wednesday he listened in on the phone call between President Donald Trump and Ukraine's president at the center of the House's impeachment inquiry. The heads of three House Democratic panels also told Pompeo they had scheduled depositions with five State Department officials as part of the inquiry. Engel, House Intelligence Committee Chairman Rep. Adam Schiff, D-Calif., and House Oversight Committee Chairman Rep. Elijah Cummings, D-Md., responded to Pompeo in a statement Tuesday. They said that if Pompeo did listen in on Trump's call with Zelensky, he "is now a fact witness in the House impeachment inquiry." "Any effort to intimidate witnesses or prevent them from talking with Congress including State Department employees is illegal and will constitute evidence of obstruction of the impeachment inquiry," they said.