Anxiety regarding Italy's constitutional referendum has waned on the country's banks, as investors flee industry debt leading up to Sunday's vote. Bank bonds saw yields climb close to the same levels experienced in Q1 - when markets slumped nearly the entire quarter.
Black Friday and Cyber Monday traditionally serve as the kick off to the holiday shopping season. This year shoppers flocked to the retailers, online and offline, at record rates with Black Friday sales hitting its highest sales ever of $3.34 billion. Early indicators say that Cyber Monday sales will top out at around $3.36 billion, keeping its edge over Friday's sales record. As retailers gear up for the rest of the holiday season, see this week's retail industry top Gainers and Losers, through ADI's Market Analytics.
The world's largest meat processor, Tyson Foods, Inc. (NYSE: TSN), experienced bad news ahead of one of the nation's top meat-consuming holidays. The Tyson Foods, Inc. 7% (USD) 1/15/2028 bond saw a sharp $6 drop in bid price leading up to Thanksgiving - coming on the heels of a month of unpleasent news. In addition to facing numerous downgrades, the Arkansas-based company missed Wall Street predictions in last week's earnings report as well as face a class-action lawsuit citing extensive price-collusion in the chicken-boiler market dating back to 2008.
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