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What Recession? Luxury Brand Retailers Can Barely Keep Up With Consumer Demand

Upscale apparel and accessories retailers have been consistently outperforming the rest of the retail market, as they've been able to simultaneously roll back discounts and increase sales. A spike in sales for the most expensive of offerings, and at branded outlets, belies a more sinister reason for the surge: growing income inequality.
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Top After Market NYSE Movers (CIM, MX, BZH, ALC, DLR, BPZ, LDK, IOC, AL, PVR)

The top after market NYSE gainers on Monday were: Chimera Investment Corp, MagnaChip Semiconductor Corp, Beazer Homes USA, Assisted Living Concepts and Digital Realty Trust. The top after market NYSE Losers were: BPZ Resources, LDK Solar Co, InterOil Corp, Air Lease Corp and Penn Virginia Resource Partners.
The sign on a Bank of America ATM machine is pictured in downtown Los Angeles

Bank of America to Sell 10.4B Shares of China Construction Bank

Bank of America Corp. (NYSE:BAC) said it agreed to sell about 10.4 billion common shares of China Construction Bank Corp. (CCB) through private transactions with a group of investors, in a move that will result in an after-tax gain of about $1.8 billion.
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HARP 2.0 Program Better Than Expected?

FBR Capital Markets said the broad changes to the Home Affordable Refinance Program (HARP) were outlined by U.S. President Barack Obama's administration on Oct. 24. However, the release of most of the technical details was delayed until Nov. 15.
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Cardiome Pharma Downgraded at Wedbush Securities

Wedbush Securities downgraded its rating on shares of Cardiome Pharma Corp. (NASDAQ: CRME) to “neutral” from “outperform” as the trial of oral vernakalant continues to delay. The brokerage also lowered its fair value estimate to $4 from $8.50.

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