BC-Money & Markets Digest
Money & Markets modules for Wednesday, Sept. 26
The Federal Reserve is expected to end its two-day meeting with an announcement of its third rate hike of the year; the Commerce Department releases data on new home sales in August; CarMax reports quarterly results
Michael Kors is buying the Italian fashion house Versace in a deal worth more than $2 billion, continuing its charge into the world of high-end fashion.
Sweet leaf or sour diesel?
Canada will legalize retail marijuana in October, and analysts say the market there is worth billions. Investors are tantalized by the industry’s possibilities, but pot companies have limited track records and their stock prices have swung wildly.
Ascena Retail (ASNA)
XO Group (XO)
Southern Co. (SO)
Southwest Airlines (LUV)
Oakmark International Small Cap (OAKEX)
This fund’s contrarian management team produces “lumpy” returns that have “tested investors’ intestinal fortitude,” Morningstar says. It earns a “Bronze” rating, because “it’s shown it can pay off.”
For questions about Money & Markets modules, please contact Greg Keller (212-621-7958). For technical support: contact Todd Balog (816-654-1096). After 6 p.m., contact the AP Business News desk (800-845-8450, ext. 1680) for content questions; 1-800-3AP-STOX for technical support and 212-621-1905 for graphics help. The Money &Markets digest can also be found at www.markets.ap.org.