Thursday, September 06, 2007

Today's Headlines

Bloomberg:
- Lowe’s Cos(LOW) increased the size of its proposed sale of senior bonds to $1.3 billion, making the offering its biggest ever.
- Federal Reserve Bank of Atlanta President Dennis Lockhart said he hasn’t seen conclusive signs that the US housing recession has harmed the wider economy.
- Nucor Corp.(NUE), the second-largest US-based steelmaker, said it plans to buy back as much as $1.66 billion of its shares after profit rose to a record.
- Lexmark Intl.(LXK), the second-largest US printer maker, gained the most in more than a year after Sanford C. Bernstein said “healthy” demand will fuel profit growth.
- Wal-Mart Stores(WMT), Macy’s Inc. and retailers catering to teenagers reported August sales that topped analysts’ estimates on purchases of clothing and electronics for the new school year.

Wall Street Journal:
- Seagate Technology(STX) is introducing drives for desktop computers that use special chips to encrypt information to make it unreadable if a computer equipped with the devices falls into the wrong hands.

NY Times:
- Amazon.com Inc.(AMZN) plans to release an electronic book reader in October named Kindle that will let users download books wirelessly through an e-book store on the retailer’s Web site.

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