This Week’s Data
The International Council of Shopping Centers reported weekly sales by major retailers unchanged versus the prior week but up 3.6% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 0.4% versus the similar timeframe last month and up 2.4% on a year over year basis.
Weekly mortgage applications fell 0.8% while purchase applications were down 9.0%.
Builder confidence reaches new high (short):
Another look at Obama’s Dream Act decree (medium):
More details you probably won’t hear much about (short):
News on Stocks in Our Portfolios
Walgreen to buy 45% in Alliance Boots for $6.7B. Walgreen (WAG) has agreed to acquire a 45% holding in health and beauty retailer Alliance Boots for $6.7B, and has an option to purchase the rest of the company. Walgreen also said that FQ3 EPS came in at $0.62, which missed consensus by $0.01, while revenue fell 3.4% to $17.8B but was in line. The drugstore chain is increasing its dividend by 22.2% to $0.275 a share, its 37th consecutive year of dividend hikes.
United Tech looks to sell $1B Pratt & Whitney assets. United Technologies (UTX) is looking to sell its Pratt & Whitney power generation assets in a deal that could fetch around $1B, Reuters reports. The potential sale is part of United Tech's effort to focus more on its aerospace and propulsion segments and move away from non-core businesses. The sale could occur after the company closes its planned $16.5B purchase of Goodrich (GR).
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