(h/t @jessefelder) And also, we’ve got McDonalds going ahead with the decision to add $4 Angus burgers to their menu. Bull market! Literally.
Entries from July 29th, 2009
Mary Schapiro Does Not Want To See That
July 28th, 2009 · 5 Comments · markets
Put your trenchcoats away, folks. Â Yesterday the SEC elected to make the temporary restriction on naked short selling permanent. The regulator introduced a rule last year to limit naked shorting by requiring broker-dealers to promptly purchase or borrow securities that they would use to deliver on a short sale. That was set to expire July [...]
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LVMH Says You Drank Up All The Hennessy You Had On Your Shelf
July 28th, 2009 · 1 Comment · retail
…and you didn’t buy any to replace it. (Destocking!) LoLo, Esq., and I are hitting the retail beat again to let you know that – QUEL HORREURS! – European luxury flagship Louis Vuitton Moet Hennessy (LVMH)’s earnings got leaked, and they don’t look so hot: LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury [...]
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S&P 500: CIT Is Out, Your Grandma Is In
July 27th, 2009 · No Comments · markets
From the insult-to-injury department: CIT Group (NYSE: CIT) has, unsurprisingly, been given THE BOOT from the S&P 500. In its place, the S&P is welcoming Red Hat (NYSE:RHT) with open arms. Red Hat, which went public about 10 years ago, is best known as the “world’s largest sisterhood of women age 50 and beyond,” with [...]
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Abercrombie Called, They Want Their Powerpoint Back
July 27th, 2009 · 1 Comment · retail
I know, one of my weaknesses is an insistence on covering the retail sector. But I have to do it. And I have to give a h/t to LoLo, Esq., for practically writing this one for me. Dov Charney, intrepid CEO of American Apparel, is well-known as a lech, but you’d think that taking a [...]
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