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Retail Stocks Jumped On April 1 On Fall In First-Time Jobless Claims
Monday, April 5, 2010 - 7:47am | 251Retail stocks rose on April 1 after first-time jobless claims fell last week. Meanwhile, the four-week average plunged to its lowest level since September 2008. By the end of the trading day, the S&P Retail Index gained .4% to 451.61. The top gainer in the retailing sector was Borders Group...
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Tiffany & Co. Loses Appeal Against eBay (TIF, EBAY)
Monday, April 5, 2010 - 7:39am | 131A US appeal court has ruled that eBay (NASDAQ: EBAY) is not guilty of trademark infringement and dilution. Tiffany & Co. (NYSE: TIF) had filed a case against eBay alleging that the auction site is guilty of selling counterfeit merchandise. According to Reuters, the company also accused eBay of...
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The Market Going Forward
Friday, April 2, 2010 - 8:59pm | 217For the past few weeks I have been providing you with the chart below, because, as I have been saying for eternity now, the market is looking prime for a pullback of some kind. Despite the market being closed today, it still managed to rally in the futures markets off of the unemployment report...
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Borders Bounces Back
Thursday, April 1, 2010 - 6:14pm | 515Shares of Borders Group (BGP) shot up 47% today to$2.54. Is this the start of a revival for Borders shares or just a dead cat bounce? Let’s take a closer look at the country’s 2nd largest bookstore chain. The Good News 1. Borders shares rose after the company reported that it was able to repay a $...
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Border Group Posts Impressive Quarterly Results (BGP)
Thursday, April 1, 2010 - 4:39pm | 94Borders Group Inc. (NYSE: BGP) has posted excellent fourth-quarter results. The firm has doubled its profits from a year earlier. Borders has also announced securing a new extended credit facility. The firm also announced the repayment of a $42.5 million loan to its largest shareholder, Pershing...
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Borders Repays $42.5M Loan To Pershing Square-Sources
Wednesday, March 31, 2010 - 3:57pm | 53Borders Group (NYSE: BGP) has reportedly paid back the $42.5 million loan to Bill Ackman's Pershing Square. Borders also gets an extension to the credit agreement that had been scheduled to mature in July, 2011. Borders also receives a new $90 million second lien loan, according to Reuters.
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Market Roundup (BBI, BA, AIG, PUK, ARQL, F)
Wednesday, March 31, 2010 - 3:13pm | 291Blockbuster Inc (NYSE: BBI) shares dipped 11% yesterday after the company disclosed that it was not in compliance with NYSE’s requirements for minimum market value. Following this announcement, BBI’s biggest shareholder, Carl Icahn, sold off 13 million BBI shares to reduce his stake in the company...
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Jefferies & Company Identifies Retail Names Offering Growth
Wednesday, March 31, 2010 - 10:04am | 203Jefferies & Company’s analysis of consumer discretionary companies finds that only 12 are “guiding to 10%+ unit growth in 2010 - and of those, just five are delivering positive SSS including Buffalo Wild Wings (NASDAQ: BWLD), Citi Trends (NASDAQ: CTRN), Ulta Salon, Cosmetics & Fragrance (...
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Benzinga’s Top Upgrades (KCAP, WLP, DOVR, DRIV, OZM)
Wednesday, March 31, 2010 - 9:49am | 255Kohlberg Capital Corporation (NASDAQ: KCAP) was upgraded by Stifel Nicolaus from “sell” to “hold.” KCAP’s shares closed at $5.51 yesterday. KCAP’s shares have gained 20.83% year-to-date. Read more about this company here. BMO Capital Markets upgraded WellPoint Inc (NYSE: WLP) from “market perform...
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Gainers and Losers On March 30 (WEDC, IRE, BIOF, WLK, HNR, GNVC, CHRS, MPG, BBI, LDK)
Wednesday, March 31, 2010 - 7:36am | 339Markets just about managed to stay in the black yesterday. The stocks that made significant contributions to the markets are: Gainers White Electronic Designs Corp (NASDAQ: WEDC) soared 27.8% after Microsemi Corp (MSCC) announced the acquisition of the chip manufacturer for roughly $100 million....
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Market Roundup (NSANY.PK, GNVC, FIATY.PK, GOOG, C, ZLC)
Tuesday, March 30, 2010 - 2:47pm | 255The all-electric Leaf car of Nissan (OTC: NSANY.PK) will be available at a retail price of $33,000, excluding the federal and state tax credits amounting to more than $12,000. The Leaf will be available in December at selected dealers only. Shares of GenVec (NASDAQ: GNVC) plunged 71.9% after the...
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Consumer Confidence Rebounds (TIF, M)
Tuesday, March 30, 2010 - 12:32pm | 143The Conference Board said its index of consumer attitudes rose to 52.5 in March from an upwardly revised 46.4 in February. Analysts were expecting a March reading of 51.0. The expectations index rose to 70.2 from a revised 62.9. The present conditions index increased from 21.7 to 26.0 and is at its...
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Borders Close To Repaying Ackman (BGP)
Tuesday, March 30, 2010 - 11:19am | 156Reports indicate that retailer Borders Group (NYSE: BGP) is close to arranging financing that will allow the company to repay a loan which is due on April 1. Borders (BGP) had borrowed $42.5 million from its largest investor, Pershing Square Capital Management, in 2008. Pershing Square is noted...
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U.S. Equity Market Preview (BJ, BBI, CEPH, DHR, MYGN)
Tuesday, March 30, 2010 - 7:14am | 323Shares of the following companies may see some unusual movements in trading on Tuesday, according to Bloomberg. BJ’s Wholesale Club, Inc. (NYSE: BJ), a warehouse club operator in the Eastern United States, has increased the size of its share buyback program by $200 million. Shares of BJ’s Wholesale...
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Bloom Box (Bloom Energy) IPO?
Friday, March 26, 2010 - 2:37pm | 555Bloom Energy is the Sunnyvale, California manufacturer of solid oxide fuel cells that was featured on 60 minutes last month. Reportedly, the company's small fuel cells are as efficient as and as much as doubly efficient as a conventional power plant. Questions have been coming in to me about...