Saving on holiday shopping and nine other money stories you may have missed this week
MarketWatch rounded up 10 of the most interesting money stories published over the past week that readers might have overlooked.
Holiday shopping bargains
Yes, the children have Halloween on their minds, but you are probably already quite worried about fulfilling their holiday wishes. Then again, your biggest concern may be coming up with thoughtful presents to give to your parents. That’s an annual nightmare for many people.
Catey Hill provided a detailed plan for maximizing savings on holiday purchases on the “day you want to do it least.”
What about holiday stocks?
As we continue the traditional annual holiday-spending orgy, we might as well try to make some money at the same time. Tonya Garcia discussed a new survey indicating that the average holiday spending by U.S. consumers will increase by 12.5% this year, with the biggest gain in home and holiday furnishings. This underlines the theme that the furniture industry is growing faster than the overall economy.
Resisting Black Friday
Not everyone is content to follow the herd of “sheeple” and scramble like mad to get their share of bargains on Black Friday.
Barbara Kollmeyer covered outdoor retailer REI’s plan not only to close on Black Friday but to make it impossible to place orders on its website. Jerry Stritzke, the company’s CEO, said the day after Thanksgiving would be reserved to go hiking.
Dreaded accounting problems
We saw on Oct. 21, when shares of Valeant Pharmaceuticals International Inc. VRX, -15.90% dropped 19% after the company was accused by a short seller of incorrectly reporting revenue, how quickly investors can run away from a stock. Valeant’s free-fall has continued, as the company admitted its relationship with Philidor, a specialty-pharmacy company, get cut off by benefits providers. Valeant then severed its ties with Philidor.
Shares of Valeant were down 29% from a month earlier through Thursday’s close at $111.50.
Nobody can blame investors’ natural instinct to bravely run away when a company has any hint of accounting problems. Another fine example, discussed by Tomi Kilgore, is Marvell Technology Group Ltd.’s MRVL, -0.06% 45% decline this year amid accounting-related announcements.