Are you psyched for the Fusion razor?
"Very specific and personal misfortune awaits those who presume to believe that the future is revealed to them." - John Kenneth Galbraith
Morning News of Note:
- BBBY LIN: BED, BATH MAY BUY LINENS & THINGS - NO SHEET! Bed, Bath & Beyond is considering an acquisition of rival Linens 'N Things, which has recently hired an investment bank to advise it on a possible sale of the company, industry sources said. Should Bed, Bath & Beyond decide to pursue a deal — and it remains unclear whether it will — the company would have an opportunity to consolidate the home goods market in the face of increasing competition from rivals like Wal-Mart, Target and a host of department stores, these people said. (Full Story) NY Post
- TWX MSFT: AOL'S TIME IS UP In a deal that would unite two of America's corporate giants as partners in the Internet business, Time Warner is in advanced discussions to sell a stake in America Online to Microsoft, The Post has learned. According to two sources familiar with the matter, Time Warner is in talks with Microsoft about selling the stake in AOL and then combining it with Microsoft's Web unit MSN. (Full Story) NY Post
- PG G: Gillette's Smooth Bet: Men Will Pay More For Five-Blade Razor Days before Procter & Gamble Co. reached an agreement to purchase Gillette Co. for $57 billion, P&G Chief Executive A.G. Lafley had a special request. He wouldn't put forward a final bid until he had tried Gillette's new top-secret razor, whose success would determine Gillette's profits for years to come. So one day in late January, Mr. Lafley and his chief financial officer, Clayt Daley, walked out of Gillette CEO Jim Kilts' office in Rye, N.Y., clutching two razors to take home and try out the next morning. (Full Story) WSJ
- Energy: OPEC Secretary Gen said OPEC to consider 500k bbl/day ceiling hike at meeting Monday; expects group to let global inventories grow; said Saudi offer for more crude had no takers; sees minor tweaks to OPEC call on and demand due to oil // Saudi Crown Prince said he's worried about oil prices; reit Saudi Arabia ready to meet any oil supply shortage
Market Comments: The market opened up slightly this morning, on the heels of a benign inflation report (if you believe the govt. numbers). Energy stocks are leading so far, while chip stocks and some tech are selling off. Many of these stocks have had big runs, so I can't begrudge a little profit taking. And...it's still early.
long PG, TWX