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Stock Market & Financial Investment News

News Breaks
May 30, 2014
06:29 EDTWMTWal-Mart: ISS 'misconstrues the nature of our executive compensation program'
Wal-Mart said in a filing "Independent proxy advisory firm Glass, Lewis & Co., LLC agreed with the Board and recommended a vote FOR Proposal No. 3. Institutional Shareholder Services, another proxy advisory firm, has recommended a vote AGAINST this proposal. We believe that ISS’s analysis misconstrues the nature and operation of Walmart’s executive compensation program. We believe ISS’s recommendations are incorrect and inconsistent with prior years’ analyses. The primary difference this year appears to be the submission of a letter, dated May 19, 2014, from CtW Investment Group, which contains a number of misrepresentations and intentionally misconstrues our executive compensation program. CtW is a union-affiliated group that has a long and consistent track record of opposing Walmart, with its sole motive being to undermine the company in an attempt to organize Walmart’s associates. As ISS acknowledges in its report, ISS’s own quantitative analysis shows that Walmart’s executive pay is of 'low concern,' with executive pay aligned with performance, and that Walmart’s CEO pay is low relative to the median of its peers. As described in our proxy statement, Walmart’s executive compensation program emphasizes performance and is intended to closely align the interests of our Named Executive Officers with the interests of our shareholders. The Compensation, Nominating and Governance Committee regularly reviews our executive compensation program to ensure that compensation is closely tied to aspects of our company’s performance that our Executive Officers can impact and that are likely to have an impact on shareholder value."
News For WMT From The Last 14 Days
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September 2, 2015
19:00 EDTWMTWal-Mart to reopen five stores after claims of worker retaliation, Reuters says
Wal-Mart plans to reopen five U.S. stores after being accused by the UFCW union of closing the locations in retaliation against workers trying to organize, reports Reuters, citing spokesperson statements. The company will push former employees of the stores to reapply, said the spokesperson. Reference Link
August 31, 2015
09:51 EDTWMTWal-Mart reduces worker hours to cut costs, Bloomberg reports
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August 27, 2015
06:23 EDTWMTWal-Mart extends holiday layaway program two weeks, Reuters reports
Wal-Mart (WMT) plans to boost its holiday layaway program by two weeks ahead of an expected year-end demand for Star Wars toys, a Disney (DIS) property, Reuters reports. The retailer will jumpstart the program on August 28, two weeks earlier than last year, the report says, citing comments from Anne Marie Kehoe, VP of toys at Wal-Mart. Reference Link
August 26, 2015
14:52 EDTWMTWal-Mart phasing out sales of modern sport rifles, Washington Post says
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August 21, 2015
16:34 EDTWMTMarket enters correction territory in worst week in four years
For the week, stocks plummeted amid concerns about a slowing Chinese economy and declining oil prices. MACRO NEWS: Monday, the Empire State manufacturing index crashed to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009... Meanwhile, the NAHB homebuilder sentiment index rose to 61 in August from 60 in June, matching consensus estimates... Tuesday, July housing starts edged up 0.2% to 1.206M, beating consensus estimates for 1.180M in the best reading since October 2007. Building permits, however, fell 16.3% to 1.119M against expectations for 1.230M, while single family starts rose 12.8% and multifamily numbers fell 17.0%... Wednesday, the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%... Meanwhile, FOMC minutes showed no definitive indication of a September rate hike... Thursday, initial jobless claims rose to 277,000 from a revised 273,000, bringing the 4-week moving average to 271,500... The Philadelphia Fed index rose 2.6 points to 8.3 in August, beating expectations for a 7.5 reading... Friday, the PMI Manufacturing Index Flash for August came in at a level of 52.9, below the prior level of 53.8 and the consensus level of 54.2. COMPANY NEWS: Monday, Liberty Interactive (QVCA) announced an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B. The acquisition will be attributed to Liberty's QVC tracking stock, though the companies specified that QVC and zulily will operate as separate brands... Amazon (AMZN) founder and CEO Jeff Bezos downplayed a recent New York Times critique of the company's workplace practices, telling employees in an email that "the article doesn't describe the Amazon I know or the caring Amazonians I work with every day..." Tuesday, Wal-Mart (WMT) cut its full year earnings outlook, with company executives on a subsequent conference call expressing confidence in China but noting that Brazil and U.K. remain challenging markets for the company... Wednesday, Seagate Technology (STX) agreed to acquire Dot Hill Systems (HILL) for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016... Thursday, Valeant (VRX) agreed to acquire Sprout Pharmaceuticals for roughly $1B in cash plus a profit-sharing agreement, adding that it expects to bring the company's recently-approved female sexual dysfunction drug Addyi to the U.S. by Q4... Friday, Steiner Leisure (STNR) entered into a definitive merger agreement where an affiliate of Catterton will acquire all of the outstanding shares of Steiner for $65 per share in cash. INDEXES: For the week, the Dow lost about 5.79% to close at 16,459.75, the Nasdaq declined about 6.71% to close at 4,706.04, and the S&P 500 fell about 5.73% to close at 1,970.89.

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