Semi *OT* Sector rotation again. LOL Short Furbies, go long the Force...
Monday May 3, 8:19 am Eastern Time
'Star Wars' toy debut lures collectors at midnight
By Angela Moore
NEW YORK, May 3 (Reuters) - Toy marketers are up to their Jedi mind tricks again.
A new batch of Star Wars toys linked with the upcoming film ''The Phantom Menace'' drew throngs of toy collectors and media to toy stores across the United States with midnight openings.
Not many other entertainment franchises like ''Star Wars'' could lure people to wait outside toy stores in the middle of the night.
'''Star Wars' films are more than just entertainment, they're very spiritual,'' said Alex Baiaridi, a 27-year-old Fordham University student who was waiting outside FAO Schwarz with more than 500 other people in New York. Baiaridi wanted to buy a Darth Maul figure and remembers seeing the original ''Star Wars'' over 20 years ago with his father.
''The Phantom Menace'' opens May 19 and serves as a prequel to three original ''Star Wars'' films, which featured Jedi Knight Luke Skywalker teaming up with a rebel alliance and using mental skills and mind tricks to battle an evil emperor and Darth Vader.
The new ''Star Wars'' toys are expected to be a bonanza for Hasbro Inc. (HAS - news), which owns most of the toy making rights for ''Star Wars,'' while giving a boost to toy retailers such as FAO Schwarz and Toys R Us Inc. (TOY - news)
At FAO Schwarz's Star Wars boutique, Naboo fighters and Sith Speeders dangled from the ceiling, while the movie trailer played on a giant screen behind the cashiers.
Employees came out and played with the toys, including a double edged lightsaber (a flashlight inside of a colored plastic sword), before the eager shoppers.
Employees in the boutique called out to the crowd, ''Only three Darth Maul figures left, who wants one?'' They would throw them into the people on line. A few moments later more Darth Maul figures would appear and the same workers would call out ''Last 10 Darth Maul figures left!''
As sales were winding down at 0200 EDT/0600 GMT on Monday, Tom Wheeland, vice president of human resources at FAO Schwarz said, ''We've had a businy night and exceeded our expectations...people were very patient.''
FAO Schwarz cashier Jackie Alonzo said all of her sales were for more than $100.
At 0330 EDT/0730 GMT at a Toys R Us in Woodbridge, N.J., workers were busy replenishing the stock after 300 shoppers mobbed the store until 0130 EDT/0530 GMT.
Ron Rosato, who was putting up new action figures on a rack, said finding volunteers to work overnight was not too difficult, ''Everyone wanted to see what kind of mayhem would be here.''
''It was an experience, but it was not worse than Black Friday (the day after Thanksgiving),'' Rosato said.
John Clark, who was working with Rosato, noted that the action figure for Mace Windu, who is played by Samuel L. Jackson, sold out almost immediately.
''It's going to be weird to see him as a Jedi Knight after seeing him in 'Pulp Fiction,''' Clark said. One of Jackson's best known roles is from ''Pulp Fiction,'' where he played a hitman.
The toy sales probably added to the hype surrounding the film.
''They'll have to break out the fire houses and hose these people off,'' Clark from Toys R Us said. ''I'll be there though.''
Wade Russell, an Irvine, Texas resident who was at New York's FAO Schwarz, said he was confident that the movie will live up to its predecessors.
''I don't think it will disappoint. I mean, it's 'Star Wars.'''
biz.yahoo.com
Note the NASDAQ 10 point futures eroded rather quickly. Yahoo business said the treasury pit was still focused on Friday's report and that most traders were net short. If this morning's release can be spun positive somehow by the heads or Goldman can put the pressure on, there could be a heack of a pop up as theyall have to cover. Be careful out there today.
Gersh, I thought I saw on your chart at MDA that the futures would have to be NEGATIVE 2 to trigger a sell program not positive two? You had the 2 in red.
EDIT - Monday May 3, 8:22 am Eastern Time
Note: this article has a followup with more information.
U.S. Treasuries open lower, new lows possible
NEW YORK, May 3 (Reuters) - U.S. Treasuries opened lower on Monday, although activity was extremely light with no trading in Tokyo and London due to holidays.
In early trade, the benchmark 30-year bond was at 93-24/32, down 11/32. Its yield rose to 5.69 percent from 5.66 percent at Friday's close.
At the shorter end, the two-year note was down 1/32 at 99-27/32, with its yield up to 5.08 percent from 5.07 percent.
After Friday's debacle, in which the bond's price plunged some two points, Treasuries have moved to the very bottom of their long-standing ranges and threaten to break to new lows.
(Note: this article is ''in progress''; there will likely be an update soon.)
biz.yahoo.com
Lee |
