News on Stocks in Our Portfolios
Abbott Labs worth less than
spin-off. Abbott Laboratories' (ABT) AbbVie spin-off is
worth more than Abbott ahead of the official split of the company in January.
"When issued" trading in the two entities began yesterday in the
secondary market, with the new Abbott valued at $47.9B and AbbVie $55.3B. The
market cap of the combined Abbott is $103.27B.
Economics
This Week’s Data
November
small business confidence came in at 87.5 versus expectations of 92.5.
The
International Council of /Shopping Centers reported weekly sales of major
retailers down 0.7% versus the prior week but up 2.5% versus the comparable
period a year ago; Redbook Research reported month to date retail chain store
sales up 0.2% versus the similar timeframe last month and up 2.2% on a year
over year basis.
The
October US trade deficit was $42.2 billion versus estimates of $42.8 billion.
October
wholesale inventories rose 0.6% versus forecasts of an increase of 0.4%; this
was not good in light of the 1.2% decline in wholesale sales.
Weekly
mortgage applications rose 6.2% while purchase applications were up 1.0%.
Other
Pimco’s
outlook for 2013 (medium):
Politics
Domestic
International
George
Will on targeted killings (medium):
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