Stock Market Today

Perfumania (PERF) shares drop after buyout news of Parlux Fragrance (PARL)

(Best Syndication News) - Perfumania Holdings Inc. (NASDAQ:PERF) announced the buyout of Parlux Fragrances, Inc. (NASDAQ:PARL) in a $170 million deal. Parlux shares traded higher today after the December 23, 2011 announcement of the definitive merger agreement.

Perfumania Holdings agreed to aquire all outstanding shares of Parlux, which has an approximate value of $170 million on a December 22 closing share price of $19.55. The value of Parlux stock would be estimated to be valued between $7.91 and $8.55 under the assumption that no adjustments occur within the merger agreement.

The December 22, 2011 closing price of Parlux was $3.40 per share. At 4 pm EST Parlux (NASDAQ:PARL) shares were trading at $5.94 each, up $2.47 (+71.18%). The trading volume has been heavy today, up 4,960 percent at the time of this writing; the average trading volume is 26,284 and today's trading volume was at 1.33 million.

Computer Sciences Corp, Whirlpool Corp, and Delta Air Lines among Market Movers to Down Side

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(Best Syndication News) Markets are generally higher through the mid-day point Tuesday; however some stocks, including Computer Sciences Corp, Whirlpool Corp, and Delta Airlines, appear to be bucking the trend.

The DJIA is up 26 points (+0.21%) to 12,320, the S&P 500 is up 2.89 points (+0.23%) to 1,268, and the NASDAQ is up 13.49 points (+0.52%) to 2,632. The indexes began the day lower but are now shifting higher.

The technology sector is up 0.43 percent; however Computer Sciences Corporation (NYSE:CSC) is slipping 2.29 (-8.65%) to 24.19. There is a bid of $24.21 on 700 shares and an ask of $24.22 on 400 shares.

Sears and Kmart Closing Stores after decline in Holiday Sales

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(Best Syndication News) - Sears Holding Corporation (NASDAQ:SHLD) announced that they will be closing 100 to 120 Kmart and Sears full-line stores after a decline in sales.

Sears announced the quarter-to-date (QTD) and the year-to-date (YTD) sales at the two stores ending December 25, 2011. Sears QTD sales were down -6 percent, and the YTD sales slid -3.3 percent. Kmart QTD sales declined -4.4 percent and their YTD sales were slightly down at -1.8 percent. The holiday shopping season did not fare as well as their overall yearly sales number.

Sears store sales for the QTD, declined because consumers spent less on home appliances and consumer electronics. More than half of Sears decline was in consumer electronics. Sears clothing overall remained stagnant. However, there was a slight boost with the in-store Land’s End clothing sales.

Stock Market News – Alcoa (AA) Boeing (BA) Hewlett-Packard (HPQ) Travelers (TRV) and Home Depot (HD) Dow Laggards

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(Best Syndication News) Stocks continued to rise throughout the day Friday as legislative concerns in Washington were sorted out (see stock charts below). Markets are opening higher early Monday in Asia.

World Markets

The Shanghai composite index (China) gained 0.84 percent while the Hang Seng (Hong Kong) and the TSEC (Taiwan) added 1.37 percent and 2.07 percent respectively on Friday (see world market chart below). The S&P ASX 200 (Australia) and the KOSPI (Korea) were also higher.

Stock Market Today – Biggest Losers include Newmont Mining (NEM) (LOW) (EMR) and (NVO)

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(Best Syndication News) Stock prices sputtered higher as the three-day equity rally continued Thursday (see the stock charts below). Gold and silver prices began to slide as Brent crude and light sweet crude oil advanced.

World Markets

Stock markets are opening higher in Europe Friday after closing mixed in Asia. On Thursday the Asian markets were nearly all lower while major indices in the United States and Europe were higher (see world market index chart below).

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