Thursday morning headlines

Stocks edging lower: Not totally unexpected after yesterday's big gain. Dow is down about 40 points.

Retailers generally strong: November sales results were better than expected for Macy's and Costco, but disappointing for Target and Kohl's. From Reuters:

Total retail sales for the Thanksgiving weekend reached an estimated $52.4 billion, up from $45 billion last year, according to the National Retail Federation. Still, many people turned out only for special offers, such as 50 percent off storewide merchandise, so retailers' profit margins could be under pressure if they continue to resort to deep discounts to entice buying. Many industry watchers said they expected that shoppers under financial stress would hold back after their weekend binge.

Chrysler has big month: November sales surged 45 percent from a year earlier, while GM was up 7 percent, thanks to the subcompact category. The other automakers report their results later today. (NYT).

Jobless claims up again: Weekly filings rose by 6,000, to 402,000 - an indication that the jobs market remains slow and uneven. November's employment report comes out tomorrow. (AP)

LAX back in operation: Power is on and there are no delays for arriving and departing flights, according to an airport tweet. Last night a number of flights were diverted because of the wind.

Brown pushes for tax increase: The governor will ask voters to approve temporary increases in sales and income taxes (for individuals making more than $250,000 a year). There are lots of tax-related measures being pushed for the November ballot. From Bay Area News Group:

Even if Brown's tax proposal passes, however, the new revenues won't be enough to cover the expected $13 billion deficit hanging over the Capitol in the fiscal year beginning in July, sources said. And that could mean billions of dollars in additional cuts. Brown's proposed sales tax increase is likely to be smaller than the now-expired 1 percent hike approved by the Legislature in 2009, but it would represent about half the new revenues collected.

Insider inquiry broadens: A new round of charges is expected by the end of the year that focuses on two large hedge funds. (WSJ)

Zynga seeks $10-billion valuation: That's well below the numbers being tossed around a few months ago. The fast-growing online game maker is looking to raise about $900 million, with an estimated price of $8 to $10 a share. (IFR)

Harry Potter coming to Hollywood: Universal Studios is expected to replicate its Florida Harry Potter theme park in L.A. The new attraction won't open before 2015. From the LAT:

The Wizarding World of Harry Potter at Universal Orlando has drawn more than 7 million people and was a primary driver in a 36% boost in attendance at the theme park in the first three months of 2011. Families have flocked to the park to go on Potter-themed rides, like the Flight of the Hippogriff, visit replicas of Potter locations like the Three Broomsticks Inn, and even drink a re-creation of the story's famous butterbeer.

Disney boosts dividend: The 50 percent jump is the biggest increase in at least 20 years. Burbank-based Disney is also returning cash to investors through stock repurchases. (Bloomberg)