Wednesday P.M. Report

Target, Walt Disney launching fashion line: The Walt Disney Co. is launching a fashion line aimed at “tween” girls based on the look of characters from its popular Disney Channel shows. Items from the line, “D-Signed,” will be exclusively sold at the stores of Minneapolis-based Target Corp. The first items in the line will be based on the character Sonny Monroe from the show “Sonny With a Chance,” played by Demi Lovato. Read full story

General Mills CEO Powell received $12.3 million: General Mills CEO Kendall Powell received $12.3 million in total compensation during the company’s 2010 fiscal year, up from about $10.6 million a year earlier, according to the firm’s preliminary proxy statement. The Golden Valley-based firm, which manufactures food products, increased Powell’s salary to $973,042 in 2010, compared with $959,583 in 2009. Powell’s stock-award compensation increased slightly to $3.724 million, up from $3.72 million. Read full story

Piper Jaffray’s Q2 earnings down 36 percent: Piper Jaffray Cos.’ second-quarter profits were down more than 36 percent from a year before as the investment bank struggled with challenging trading conditions for its institutional fixed-income business. Minneapolis-based Piper said today that it earned $7.4 million, or 36 cents per share, for the quarter ended June 30, down from $11.6 million, or 59 cents per share, for the same period a year ago. Read full story

Wells Fargo gains in second quarter: Wells Fargo & Co. reports net income of $2.88 billion, or 55 cents per share, in the second quarter, up almost 12 percent from $2.58 billion in second quarter 2009, or 57 cents per share. The San Francisco-based bank says the gain in net income stems from a focus on customer service and progress in the integration of the operations of Wachovia Corp., the bank Wells Fargo bought in 2008. Read full story

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