A Little More Fashion & A Bit Of Hostility

I used the proceeds from MasterCard International (Ticker: MA) and purchased more J. Crew (Ticker: JCG) @ $25.40. My total cost basis for J. Crew is $25.395. J. Crew has posted nice earnings and same store sales growth. I see this trend continuing. Retail should start perking up as we enter the holiday shopping season.

On a different note, you usually don’t see hostile takeovers in the biotech sector, but today Genzyme (Ticker: GENZ) made an unsolicited bid for AnorMED (Ticker: AOM), a small Canadian biotech company. It’ll be interesting to see how this plays out. Will there be a white knight out there to save AnorMED from Genzyme? We’ll see…