Market Wrap: ECB Seeks Banks to Leaks (Money); Talbot's Gets Some Love; A Sunny Buffett; JCPenney...Martha Stewart...World

Market wrap-up for December 7th

End of the Day: Dow Jones up 46.2 to 12,196.37; Nasdaq down 0.3 to 2,649.21; S&P 500 up 2.5 tp 1,261.01

The following is a brief summary of events moving markets today:

• Open your vaults and let the money flow!: The European Central Bank (ECB) aiming for banks to lend more as an alternative to buying bonds in the open market for European financial stabilization.
  
  Several options have been mulled, including giving access to cheaper cash from the ECB, loosening of asset-backed security usage by governments, and offering longer-term loans. The ECB had previously stated it would act to prevent a credit shortage. Banks are also able to get as much funding as needed from the ECB for periods up to a year, though eligible collateral must be put up.
  
  
• High fashion at a low cost: Sycamore Partners filed an amended 13D with the U.S. SEC last night disclosing a letter offering to acquire remaining shares of The Talbots (NYSE: TLB) for $3 per share. Talbots investors responded accordingly, sending shares nearly 70 percent higher at the close.
  
  
• It's not a car, it's a solar farm: MidAmerican Energy, a unit of Warren Buffett's Berkshire Hathaway (NYSE: BRK-A) (NYSE: BRK-B), will buy First Solar's (NYSE: FSLR) 550-megawatt Topaz Solar Farm power plant in California, Reuters reported early Wednesday.
  
  First Solar sought a sale of the plant after failing to secure U.S. government financing to construct the massive $2 billion plant, expected to power up to 160,000 homes in California.
  
  Those able to drive in the 90s will immediately think of the Mercury Topaz, a quirky little variant of the Ford (NYSE: F) Tempo.
  
  
• A win-win retail situation: J. C. Penney (NYSE: JCP) and Martha Stewart Living Omnimedia (NYSE: MSO) entered into a strategic alliance to create a unique and comprehensive retail experience featuring Martha Stewart products, know-how and advice. Under the terms, J.C. Penney will invest $38.5 million for 11 million new common shares. Following the acquisition, J.C. Penney will hold a 16.6 percent stake in Martha Stewart Living.
  
  Martha Stewart will set up dedicated sections in J.C. Penney stores, and will also collaborate on a dedicated e-Commerce site. Stores will begin seeing modifications in early 2013.
  
  Martha Stewart Living is expected to get $200 million over the life of the contract.
  
  
• More like Bla-gone-evich: Former Illinois Gov. Rod Blagojevich got 14 years in prison connected to his corruption while in office. If other news, he'll probably get a haircut now.

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