The New York Stock Exchange added seven more companies on Thursday to the list of financial institution shares that are not permitted to be shorted, ahead of Friday’s market open.

NYSE had added nine firms ahead of Thursday’s market opening. In the last two days the Nasdaq Stock Market has added three stocks, including Sears Holding Corp, and dropped one from its list.

NYSE adds 7 companies to short-selling ban - reuters.com

From the article: “BY all accounts, Edward S. Lampert, the billionaire hedge fund manager whose investment savvy earned him renown as “the next Warren Buffett,” is a man not accustomed to rebukes.

But that is precisely what the stock market delivered in mid-January as Sears Holdings, the Kmart and Sears combination engineered by Mr. Lampert in 2005 and his hedge fund’s biggest holding, sank to $86.02 a share. It was a level last seen three years ago, just after the ballyhooed merger was announced, and far below the stock’s peak of $193 in April 2007. In the course of nine months, $14 billion in market value had evaporated.

So it was perhaps not surprising that last week Sears Holdings announced a revamping plan that would divide the company into five units to “simplify the way its business lines are managed.” Although details were scant, the stock rallied 13 percent on the news. It ended the week at $99 a share. ”

I cant believe Richard Rainwater actually commented on Lampert and his strategy:

“There is no exit strategy to my knowledge,” said Richard Rainwater, the hedge fund manager and entrepreneur who was an early backer of Mr. Lampert. “He will probably own it forever, and he wants to. My guess is that he has a plan. He is not going to tell you or me. My guess is that it probably makes sense financially.”

Mr. Lampert’s annual meeting with investors is scheduled for Feb. 28 in New York.

Will someone please write an article questioning Bill Ackman’s investing acumen given his concentrated bets in Borders, Target and Sears?

Saving Sears Doesn’t Look Easy Anymore - nytimes.com

From the article: ” Retailer Sears Holdings Corp said on Friday that it would close two Sears stores in Hollywood, California, and New York City for business reasons.

The March closure of a Sears store in Hollywood, California, will affect 125 employees, spokeswoman Kimberly Freely said. Less than 50 positions are likely to be affected by the February 29 closing of a store in the Flushing section of New York’s Queens borough, she added.”

Sears to close Hollywood, New York stores - reuters.com

The department store chain operator said it will now buy back up to an additional $1.5 billion of its common shares. Last month the company said it would repurchase up to $1 billion of its stock.

The new buyback is in addition to the $19 million worth of shares that remain available for repurchase under its current buyback program.

Sears had about 143.6 million shares outstanding as of Friday.

Sears Holdings Announces Expected Second Quarter Earnings and Increased Share Repurchase Authorization - prnewswire.com