Monday, November 23, 2009

Monday morning

Thanksgiving week -->> US markets will be closed Friday and open just a few hours Friday.

October home sales were up 10%, ahead of expectations. Stocks are up well this morning, with the DJIA +163 points. The "top 5" in index weight, accounting for 30% - IBM, Exxon, Chevron, 3M and Johnson & Johnson - are up about 1.5% each.

Macy's will promote "blenders and sweaters" this year over more luxurious items, as consumer tastes have changed.
“We’re going to see a gift-giving frame of mind that is more utility focused,” said Stephen Cardino, vice president and fashion director of Macy’s home division, in a telephone interview. “The kitchen’s the heart of the home now.

Will a new logo help Amrica Online re-vamp its image?
A new brand identity to be adopted by AOL next month, when it is spun off from Time Warner, ditches the odd-looking triangle that has long served as the brand symbol and replaces the letters AOL with “Aol.” — complete with a period.

With Treasury Secretary Geithner under fire, some see Jamie Dimon as a likely successor.
As support for Treasury Secretary Timothy Geithner wanes on Capitol Hill amid frustration with the Obama administration's handling of the economy, JPMorgan Chase CEO Jamie Dimon is emerging as a potential replacement. Sources tell The Post that a number of policy makers have begun mentioning Dimon as a successor to Geithner, whose standing in Washington has suffered because of the country's high unemployment rate, the weakness of the dollar, the slow pace of the recovery and the government's mounting deficit.

In the Galleon insider trading case, Danielle Chiesi was the "Darien from Wall Street" if you will:
As an analyst at New Castle Funds LLC, a New York hedge fund firm that manages about $1 billion, she was a regular at conferences on technology stocks, where she could get face time with executives and press them on how many microprocessors and how much software they were shipping that quarter. Chiesi wore short skirts and low-cut tops, according to people who saw her over the years. One ploy was to go barhopping with a group, and then peel someone off to talk to on the dance floor, says a person who attended conferences with her.

Based on sales of similar companies, Zygna - maker of Mafia Wars and Farmville - may be worth $1billion.
Valuations for Zynga and its peers were established this month when Electronic Arts Inc. bought Playfish Inc. for three to four times its revenue, said Jesse Divnich, an analyst with researcher Electronic Entertainment Design & Research. Zynga may generate a value of $1 billion should the company be taken public, said Terry Schallich, head of capital markets at Pacific Crest Securities, a technology-focused investment bank.

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