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CNN Live At Daybreak
Holiday Cheer: 95 Percent of Firms Having Holiday Celebrations
Aired December 18, 2003 - 06:15 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now, though, for a little 'Business Buzz.' Are you ready for some holiday cheer? Your employer may pick up the tab this year. Right.
Carrie Lee has more live from the Nasdaq market site.
What are you talking about?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: At least -- at least part of it, perhaps, Carol. Well, the economic recovery, improving economic times means more people are able to party with their office mates this year. Promising economic signs pointing to more holiday parties. Ninety-five percent of companies are having some type of holiday celebration this year. That's according to a poll from Battalia Winston International. That is up from 83 percent two years ago.
Now some companies still holding back on bonuses and raises, but the thinking here is even a little party is enough to boost office morale, making it worthwhile. Companies are spending less money, however. The holiday party on average costs about $39,000, and that's down from $41,000 last year. This according to Hewitt Associates. So I guess the thinking, Carol, little bit of a party better than nothing at all. That's the trend this year, anyway.
COSTELLO: Anything is better than nothing.
LEE: That's right.
COSTELLO: Quick look at the futures.
LEE: Yes, things look not too bad this morning. We could see a flat to slightly higher open for stocks. Of course yesterday the Dow and S&P gained fractional ground. The Nasdaq giving back about three points.
We do have some economic news coming out today, including weekly jobless claims. Also, Bed, Bath & Beyond could be a stock to watch today. It was up about 3 percent in the after-hours session last night, up about 2.5 percent during trading, beating the Street on profits for the recent quarter. One of the few retailers, Carol, that's done pretty well for this holiday season so far.
COSTELLO: Good for them.
Carrie Lee reporting live from the Nasdaq market site this morning. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Celebrations>
Aired December 18, 2003 - 06:15 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: Time now, though, for a little 'Business Buzz.' Are you ready for some holiday cheer? Your employer may pick up the tab this year. Right.
Carrie Lee has more live from the Nasdaq market site.
What are you talking about?
CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: At least -- at least part of it, perhaps, Carol. Well, the economic recovery, improving economic times means more people are able to party with their office mates this year. Promising economic signs pointing to more holiday parties. Ninety-five percent of companies are having some type of holiday celebration this year. That's according to a poll from Battalia Winston International. That is up from 83 percent two years ago.
Now some companies still holding back on bonuses and raises, but the thinking here is even a little party is enough to boost office morale, making it worthwhile. Companies are spending less money, however. The holiday party on average costs about $39,000, and that's down from $41,000 last year. This according to Hewitt Associates. So I guess the thinking, Carol, little bit of a party better than nothing at all. That's the trend this year, anyway.
COSTELLO: Anything is better than nothing.
LEE: That's right.
COSTELLO: Quick look at the futures.
LEE: Yes, things look not too bad this morning. We could see a flat to slightly higher open for stocks. Of course yesterday the Dow and S&P gained fractional ground. The Nasdaq giving back about three points.
We do have some economic news coming out today, including weekly jobless claims. Also, Bed, Bath & Beyond could be a stock to watch today. It was up about 3 percent in the after-hours session last night, up about 2.5 percent during trading, beating the Street on profits for the recent quarter. One of the few retailers, Carol, that's done pretty well for this holiday season so far.
COSTELLO: Good for them.
Carrie Lee reporting live from the Nasdaq market site this morning. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Celebrations>
