New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 10, 2013
11:43 EDTWMTWal-Mart falls after lawmakers say CEO knew of bribery allegations
Wal-Mart (WMT) is retreating after two senior members of Congress suggested that the company's current CEO knew as early as 2005 about bribery allegations against the retailer in Mexico. Internal Wal-Mart documents "appear to show" that CEO Michael Duke and other senior executives knew about bribery charges related to a store in Teotihuacan, Mexico as early as 2005, a document released by Democratic Congressmen Elijah Cummings and Henry Waxman stated. The documents appear to indicate that Duke and other senior executives were informed about the allegations on multiple occasions, the congressmen wrote. A Wal-Mart spokesman had previously denied that its U.S. executives had any knowledge of the allegations prior to December 2012, according to the congressmen. Cummings is the top Democrat on the House Oversight and Government Reform Committee, while Waxman is the highest ranking Democrat on the House Energy and Commerce Committee. In late morning trading, Wal-Mart fell 69c, or 1.01%, to $67.88.
News For WMT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
June 30, 2015
07:29 EDTWMTNon-profit group: Wal-Mart made deceptive ‘Made in the USA’ claims
Subscribe for More Information
June 24, 2015
06:22 EDTWMTWal-Mart to charge fees to ‘almost all’ vendors, Reuters reports
Subscribe for More Information
June 23, 2015
18:04 EDTWMTWal-Mart poaches technology talent from eBay, WSJ says
Subscribe for More Information
16:29 EDTWMTOn The Fly: Top stock stories for Tuesday
Subscribe for More Information
13:37 EDTWMTOn The Fly: Top stock stories at midday
Subscribe for More Information
07:05 EDTWMTGreen Dot price target raised to $24 from $22 at Piper Jaffray
Subscribe for More Information
06:31 EDTWMTGreen Dot contract terms better than feared, says JPMorgan
Subscribe for More Information
June 22, 2015
19:00 EDTWMTOn The Fly: After Hours Movers
Subscribe for More Information
16:33 EDTWMTGreen Dot rallies sharply on Walmart deal
Subscribe for More Information
16:28 EDTWMTGreen Dot up 27% after announcing deal with Wal-Mart
16:02 EDTWMTGreen Dot to remain program manager for Walmart
Subscribe for More Information
June 19, 2015
08:22 EDTWMTChina to let foreign companies fully own e-commerce businesses, Reuters reports
China's Ministry of Industry and Information Technology announced that, effective immediately, foreign companies will be allowed to have full ownership of some e-commerce businesses, reported Reuters. Players in China's booming e-commerce market include market leader Alibaba Group (BABA) as well as JD.com (JD), Amazon.com (AMZN), Vipshop (VIPS) Wal-Mart (WMT), which holds a stake in shopping site Yihaodian, the report noted. Reference Link
June 18, 2015
08:48 EDTWMTWal-Mart holds ‘at least’ $76B in overseas tax havens, NY Post reports
Subscribe for More Information
June 16, 2015
19:25 EDTWMTWal-Mart ranks high among millenials, Ad Age says
Subscribe for More Information
06:36 EDTWMTWal-Mart accused of using charity to increase expansion, NYT reports
Several community and labor organizations are accusing Wal-Mart of inappropriately using its nonprofit Wal-Mart Foundation to reduce local opposition to expansion efforts in places such as Washington, Boston, Los Angeles, and New York, the New York Times reports. The group of organizations claimed in a complaint with the IRS that the Wal-Mart Foundation violated the terms of its tax-exempt status by targeting millions of dollars in donations that would directly benefit the retailer, the report says. The complaint alleges that the foundation donated over $200,000 to organizations in Los Angeles in 2008 and 2009, but raised that figure to $1.4M in 2011, right as the company planned to open a store in that area. When the store was opened in 2013, donations fell to roughly $230,000, the report says. In a statement, the New York Times reports, Wal-Mart spokesman Kevin Gardner said that the Wal-Mart Foundation took tax code and regulations "very seriously" and that the allegations had no merit. Reference Link

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use