Black Friday Bargains, Best Buy's Blues, Hostess Hysteria

Aaron Task analyzes the morning business headlines.
7:00 | 11/21/12

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Transcript for Black Friday Bargains, Best Buy's Blues, Hostess Hysteria
Your latest in business and -- ABC news. Had what can not cover the opening bell on ABC news now ringing the bell this morning no stranger that organizers. The Macy's Thanksgiving Day greater friend -- Warming and thanks Bob perfect for the event obviously that has given a big thumbs up. Whether you get a lot in the crowd on Fifth Avenue -- community. Bound to be a good day and that man -- into overtime right now there it is trading -- -- today Wednesday November 21 the final trading day before Thanksgiving. I'm Dan Cutler and New York we've got some hunting ahead of us possibly for -- Turkey likely not -- rather Black Friday bargains joining me now it is outlook for the Friday holiday shopping season and the rest of the business headlines -- errant -- editor in chief and our partner Yahoo! finance -- happy Thanksgiving -- -- -- Happy Thanksgiving need to -- I don't -- -- that would Black Friday obviously a lot of cases hoping though a lot of retailers have and it's gonna put. Retailers back in the black how important is -- for this first push the holiday season before his retailers. Well it's not as big of a deal as it. Was in years past where -- -- the term Black Friday keeping this idea that that retailers became profitable at this time a year and that this the only time -- that matters retailers. But obviously it's a huge deal. For the retailers and for shopping in general on that that's why you're seeing them start -- early this year with a lot of stores going to be open on Thanksgiving Day yeah I know is that a Black Friday it has now become essentially like Thursday's and I was like Thursday I guess Wednesday -- yes and in -- -- auto dealers are doing Black Friday quote -- deals for the whole month. Of November so it's really it's -- distinctively you know we start to see. -- -- stuff for Christmas in the stores before Halloween now Black Friday is being pushed back everything gets pushed back earlier and earlier. And so. That sort of disperse is the impact that because it's so is over a longer period of time ArcelorMittal one retired here because obviously gets lot of attention this time the -- best buy. They came out weaker than expected earnings for the quarter and I think -- -- -- -- -- -- the -- to turn things around for the season. Well it's a tough slog for best buy -- there's no doubt about it and in my colleague Jeff -- He -- -- yesterday talking about how they should embrace show room. This idea you know people are coming into their stores in their they're kicking the tires right to speak out on electronics but -- they're going online to buy them. If your best buy that's a huge opportunity because you've got the person in this store. Which is. -- not. All of the gain in retail that's a huge part of the game to -- -- that's the hardest thing to do especially nowadays they get you leave their homes getting the car drive to a smaller force. Some other store and then actually come in look at something and once they're once they're there do your job -- the retelling it in the buy something. So they have an opportunity. I'm just not -- they're able to capitalize that is. Of passing because if you go to an Apple Store they have they have got it nailed down this is not any kind of endorsement for apple but you have to go in there even if you have an iPhone or iPad or whatever. The way that they have a store set up it makes you still want to play with a product that you probably already I -- I mean it's may the best out -- -- from their book. Absolutely in retailing is an art and you get people in -- store and then you have to create an experience that they enjoyed being your store they get the kind of customer service that they're looking for and then they're probably not gonna just by the -- they came in for they're gonna probably buy more stuff to and that's that's the secret sauce not seems easy. That is the opportunity that best -- hat. All right what jobless claims we usually get on Thursday -- -- in August tomorrow -- the -- they're going to be coming out there -- out this morning. 4101000. For -- weekly jobless claims down 41000 we still seen the effects of hurricane -- is that with reflected in that number. -- -- -- This is the second week in a row we've had jobless claims above 400000 which is kind of like a key benchmark. For economists prior this week it was in a range around 3639. The deafening a lot more claims in new York -- New Jersey which is almost. Certainly due to arcane sandy probably have another -- -- -- -- this and now. -- -- -- hear people talking about how the November jobs report is probably going to be weaker. Then some folks are hoping for because of the impact of sandy HP. Says that it was essentially duped. When it bought a British software company. Right losses -- cash on that's why is this a legitimate claim of the companies making or is it just trying to at a point fingers in different directions for making a bad decision. Well that this is fascinating story and you just hit upon the right questions so they bought autonomy last October for about eleven billion dollars yesterday. They wrote it down almost the tune of nine billion dollars basically saying. About 90% of the purchase was based on. What they called accounting improprieties. But they didn't use that word fraud there's certainly HP certainly suggesting that there was fraud and autonomy. But the former CEO of autonomy has come out very forcefully and said. Look that there was we did nothing wrong with our books HP went over -- -- the fine toothed -- before they bought and yes as you suggested -- -- trying to cover themselves because they've blown. That they bought the company and they haven't -- very very well within it and so it's a very much an open question right now and the sad thing is that HP shareholders have just gotten. Devastated -- stocks down about 60%. Just this year -- -- at a ten year low right now and any talk about a giant that's really font info on very -- well listen maybe those HP investors can drown their sorrows in some twinkies. Our elbows and get it while you can because unfortunately it looks like host this. The future is now -- too bright for this company right. Well for the company but -- -- and let's take a step back we are gonna have twinkies and hose and moves because. Yes it's a big relief -- -- Because the brands are so -- iconic and important we're seeing him with all the attention that's being paid to the company. And the problems are going through that somebody some other food company is gonna come along and buy if not hostess brands the company. They're gonna -- the rights to me twinkies and ring -- and all these other products that. In a lot of us. You know the older generation -- to stop before so. Hostess brands the company though there there and obviously their last leg right now the the judge forced them to do with negotiations with the union yesterday those negotiations failed. So they're looking liquidate. There have been some private equity firms sniffing around including when it's at that want to buy -- hostess brands. We all -- contracts intact they want to save those jobs I hope that happens. For the workers there right but for the rest of us we still -- we get the twinkies that we -- -- just. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- --

This transcript has been automatically generated and may not be 100% accurate.

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