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On Monday, South Korean smartphone maker Samsung announced its entrance into a new field; the automotive industry. Samsung is all set to purchase Harman International Industries, Inc. in an all cash $8 billion deal. Samsung is paying quite a premium here and has no track record in the auto industry, but is the risk worth the reward?
Read The Capitalist’s Take Here
Read More at USA Today
Read More at Fox Business
FED STANDS PAT, MOVES CLOSER TO RATE HIKE
American Apparel LLC is headed to the bankruptcy auction block next month with a deal that means a new home for its brands and hope for its Los Angeles-based manufacturing and distribution operations, but a big question mark for the fate of the retailer’s 110 stores. A beleaguered manufacturer and retailer of young adult fashion, American Apparel returned to bankruptcy Monday after months of scrambling for money and a buyer, less than a year after an earlier court-approved chapter 11 turnaround ran off the rails, according to court papers.
Read More at Wall Street Journal Here
Read More at Forbes Here
Read More at Fortune Here
ESTEE LAUDER TO GO AFTER MILLENNIALS; ACQUIRES MAKEUP BRAND TOO FACED FOR $1.45 BILLION
Estee Lauder Cos., making the biggest acquisition in its history, agreed to buy cosmetics company Too Faced for about $1.45 billion, scooping up a makeup brand that’s popular with millennials. Too Faced, which is expected to top $270 million in net sales this year, will help Estee Lauder expand in e-commerce and specialty stores, according to a statement Monday. The purchase is expected to be completed next month.
Read More at Bloomberg Here
Read More at Reuters Here
Read More at Teen Vogue Here
Closing Bell
– Monday, November 14th
Financials Lead the Way as Dow Finishes Up but S&P and Nasdaq Slip
Big Insider Trades
– Sterling Bancorp. (STL) Director James Deutsch Sells Another $2.25 m
– Spark Energy, Inc. (SPKE) Execs Buy $1m
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