Monday Morning News

Morning News of Note:

• GP: Koch Agrees to Buy Georgia-Pacific for $13.2 Billion Koch Industries Inc. agreed to buy Georgia-Pacific Corp. for $13.2 billion, adding Dixie paper cups, cardboard boxes and lumber to fuel and chemical businesses to become the largest privately held company in the U.S. Koch will pay $48 for each Georgia-Pacific share, or 39 percent more than the stock's $34.65 closing price on Nov. 11, the companies said yesterday in a joint statement. The transaction would be the biggest ever for Wichita, Kansas-based Koch. (Full Story) Bloomberg
• YHOO: Can Yahoo Sign On to Hollywood? The difference between Hollywood's glitzy sensibilities and the smarty-pants culture of Silicon Valley was distilled in a 20-word e-mail to workers in Yahoo Inc.'s Santa Monica office. Sent this year on behalf of a Yahoo executive recently recruited from Fox Broadcasting Co., the e-mail noted that "SOMEONE" had parked in his space. For some who received it, the all-capitals dispatch read like a scream: "PLEASE MOVE OR YOU WILL BE TOWED." (Full Story) LA Times
• NOK: Nokia Strikes Back NOKIA IS THE WORLD'S leading seller of mobile phones, and operates in an industry that is still growing about 20% a year. It has the sixth most recognizable brand, keeping company with worldwide icons such as Coca-Cola and Microsoft. It enjoys the highest gross margins in the business, generates tons of cash and is virtually debt-free. So, how come the stock has gone nowhere for the past two years? (Full Story) BARRONS
• US Economy: Fed Gov Fischer said Fed has further to go in raising rates; sees 4Q GDP 3-3.5%; said US should consider alternative to 30yr bond incl interest only bonds; speaking at conf in HK
• WMT: sees November comps up 3%-5%

Market Comments: The market is fairly flat in early trading. Last week was another positive week, with Thursday's big LROD day. As such, I expect further upside this week, but Friday's options expiration could add some volatility. There are also some notable retailers reporting earnings this week. LOW reported strong earnings this morning, and the stock is up nicely.

long WMT