May Retail Sales Growth Slows After Inflation Adjustment
Northern Trust chief economist Paul Kastler notes May retail sales rose 1.5 percent excluding food services, but inflation adjusting shows only 0.2 percent gain. April up 0.7 percent real, with potential second quarter slowdown harming consumer spending and profits. Lear shareholders to approve Carl Icahn led 2.8 billion privatization bid. Asian markets rally as Japan and Taiwan hit seven year highs and Hong Kong Singapore indexes set records. JBL and TEK report after hours with small earnings beats.
MENTIONED IN THIS ARTICLE
Paul Kastler
Northern Trust
Lear Corp
LEA
Carl
Wall Street
Japan
Taiwan
Hong Kong
Singapore
Dabs
Circuit Inc
JBL
Tektronix Inc
Stocks climb as upbeat data overrides rate worries
U.S. equity indexes rose with the Dow up 56.42 points to 13,545.84 and the S&P 500 higher as investors ignored rate fears. Par lender posted a Q4 loss amid mortgage lending struggles. Luxottica Group SpA agreed to acquire the company for 2.1 billion dollars. First quarter losses at the home furnishings retailer more than doubled due to falling sales and margins.
MENTIONED IN THIS ARTICLE
Tocks
Standard & Poor
SunGard
Alemel-Lucent Alu
Arkanas
Brat Corp
Bank of America Bac
Circuit City cc
Citzens South Bank CS
Crescent Raat Estate
Curtis-Wright
Danaher Corp
Delhaize DE
Dikards Inc Dds
A Donnelley & Sons Rad
Duke Energy Duk
FMC Corp Fmc
United Corp
First Charter Corp
Harley-Davidson
Pensions rise in top plans despite shrinking numbers
The 100 largest corporate pension plans show a $37.5 billion year end surplus as stock market gains boosted funded status. Yet plan counts declined as 401(k)-style plans grew and airlines face heavy pension burdens. Boston College researchers note a 43 percent drop in plans covering 100+ workers from 1990 to 2004 while defined contribution plans rose 75 percent.
MENTIONED IN THIS ARTICLE
Pensions & Investments
Boston College
Center For Retirement Research
Airlines
Steven Foresti
Wilshire Associates
Hotel REIT M&A activity draws investor attention
JP Morgan analyst notes buy ratings on Host Hotels Sunstone with modest market values making them affordable for buyers. Goldman Sachs reports Equity Inns purchase as the year’s fifth and largest hotel REIT deal. Analysts flag hospitality REITs as vulnerable to a slowing economy though many have low debt and ready borrowing power. FelCor Lodging eyed as possible next target.
MENTIONED IN THIS ARTICLE
Hase
Host Hotels & Resorts
Sunstone
JP. Morgan Securities
Harry
Goldman Sachs
TM Steele
Equity Inns Inc
Calyon Securities
Smedes Rose
Cums
FelCor Lodging
Host Hotels & Resorts Inc
HST
Hospitality Property Trust
HFT
Sunstone Hotel Investors Inc
SHO
Va LaSalle Hote
Diamondrock Hospitality Co
DRH
Strategic
Blackstone IPO draws quotes on private equity scrutiny
Quotable remark from Eter Shabecoff, partner at Atlantic Street Capital Management, notes that scrutiny is inevitable as the industry’s first big brand-name private equity firm goes public and discloses how it operates the Blackstone Group LP IPO.
MENTIONED IN THIS ARTICLE
Eter Shabecoff
Atlantic Street Capital Management
Blackstone Group LP
UBS FundFocus targets undervalued high quality firms
The fund aims for high quality companies that appear undervalued with a seasoned UBS management team directing the process and an experienced analyst bench guiding selections.
MENTIONED IN THIS ARTICLE
UBS
Also Mentioned on This Page
StorySlacks
Nvidia Corp
Nvda High
Earth and Life Sciences
Starbucks Corp
SBUX
U.S
American Greetings Corp
H&r Block Inc
Oo High
Luxottica Group Spa
Neal Chin
Lranel Brand
PIR High
Walt 26
Pier 1 Imports Inc
Pri
Money&Markets
S&p
INS
Low
Boston College Center
Cent Research, Pensions & Investm
D. Saird, E. Flach AP
Nigeria
General Electrc
Verizon
Lockheed Martin
Raytheon
Delta Air Lines
DAL
Northwest Airlines
NWA
Delphi
OPHIC
Treasuries
Montrago
Lehman Bras
Lehman US
DE Corp
Commoditias Fuels Close Pvs
Masors
cHe
CHG
Ago MO
Delphia
EUROPE/AFRICA
Mindle East
ASIA/PACIFIC
Thomson Financial
Morningstar
FundFocus
Ugcovieqam
PALUE
Irship Zone
of Fund's
Ska
Thomas Digenan
Citigroup, Inc
Morgan Stanley
Wells Fargo Company
ExxonMobil Corporation
Morgan Chasa & Co
Thaus
Intel Corp
Tam IBM
Kahle Kss
Rispy Kreme Kkd
Lance Nnce
Lowes
Ruddick Adk
Sara Lea Sle
School Specialty Inc
Q Seare Holdings
Southern Company
Spectra Energy SE
Suntrust Banks Sti
Tampa Electric Go TE
Texas Roadhouse
Tyco International Tyc
Wachovia WB
WalMart
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