Monday, November 26, 2007

Today's Headlines

- US retailers may see record holiday Internet purchases after slashing prices on high-definition televisions and leather jackets to attract customers over the Thanksgiving weekend.
- The Federal Reserve sought to ease concern that banks will be short of cash next month by planning its first long-term injection of year-end funds in two years.
F5 Networks(FFIV), the maker of equipment that helps manage computer networks, rose as much as 6.3% on the Nasdaq after an analyst said partnerships with Microsoft(MSFT) and SAP AG(SAP) may help almost double sales.
- Royal Philips Electronics NV, the world’s largest maker of light bulbs, agreed to buy lighting fixtures manufacturer Genlyte Group(GLYT) for $2.7 billion, its largest purchase ever.

- SkillSoft Plc(SKIL), the maker of employee-training software for Hewlett-Packard(HPQ) and Yahoo!(YHOO), rose the most in three months after posting third-quarter profit and revenue that beat estimates.

Wall Street Journal:
- With the start of the holiday season and worries over the safety of imported toys, leading retailers say they are stepping up testing before toys hit store shelves, retesting toys already in their inventories and toughening demands on manufacturers and importers.

NY Times:
- ABC News and Facebook in Joint Effort to Bring Viewers Closer to Political Coverage.
- NY’s Construction Boom Puts More Women in Hard Hats.
- China: Wind Power’s New Force. Beijing spent some $2 billion on the renewable energy source last year, and the mainland is on track to eclipse Europe, Japan, and the US in a few years.

- NBC’s Viewers Decline During November Sweeps.

- Saudi Arabia is increasing oil production this month ahead of OPEC’s Dec. 5 meeting.

Valor Economico:
- Petroleo Brasileiro SA(PBR), Brazil’s state-controlled oil company, will need to invest an additional $15 billion to $20 billion in exploration and extraction as it seeks to boost reefing output.

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