Consumer Business Review: GM Loses Another Opel Exec, Martha Stewart LOVES J.C. Penney
An insider sale of Estee Lauder (NYSE:EL) shares by its CEO Freda Fabrizio, which apparently ignited last week’s sell off, should be taken as an opportunity, says BMO Capital, which sees the sell off as ‘overdone”.
General Motors’ (NYSE:GM) Opel/Vauxhall sees the exit of its third CEO in fewer than three years, as Karl-Friedrich Stracke steps down so as to take on “special assignments” for GM CEO Dan Akerson. Two weeks ago a plan was okayed in an attempt to reverse the division’s perennial losses, which have ballooned into $14 billion in the last 12 years.
Earnings Report: Coca-Cola’s Second Quarter Earnings Sneak Peek.
Shares of Martha Stewart Living Omnimedia (NYSE:MSO) spike but fall back following word that the company broadens a current arrangement with J.C. Penney through which more of its categories will appear inside J.C. Penney stores.
Nordstrom (NYSE:JWN) intends to open shops under Arcadia Group’s Topshop and Topman banner in 14 stores in 2012. The retailer has posted impressive sales this summer and has been identified as one of several companies who have scooped up disappointed shoppers from J.C Penney and Sears.
Shares of Procter & Gamble (NYSE:PG) endes Thursday’s session high after Bill Ackman declared that Pershing Square’s position in the company is the ‘largest investment the hedge fund has ever made’.
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