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Stocks closed higher as comments from a Fed governor added to positive sentiment, building on gains from merger activity and Wal-Mart's better than expected profits. A drop in oil prices sent buyers into consumer stocks and other sectors that benefit from falling energy prices.
Wal-Mart Stores topped Wall Street expectations with its 9.8% jump in fourth-quarter profit. So why would anyone want CEO H. Lee Scott to quit? Consultants William Marquard and Michael Bergdahl joined "Power Lunch" to explain -- and perhaps refute -- that thinking.
ConAgra Foods will take a charge of $50 million to $60 million in the current quarter related to its peanut butter recall, the company said on Tuesday.
FirstEnergy, which provides electric utility service to customers in Ohio, Pennsylvania and New Jersey, said Tuesday its fourth-quarter profit jumped 44%, as changes to the Ohio rate plan helped offset the affect of milder weather.
Shares of Wal-Mart Stores rose on Tuesday after the discount retail giant reported quarterly earnings above analysts' expectations.
Stocks are waffling on the opening and look set to open flat to lower. Traders are picking through headlines on mergers and earnings news, including weaker-than-expected results from Home Depot. Wal-Mart also reported profits this morning, and merger news is making headlines as Wall Street reviews the long awaited marriage of Sirius and XM Satellite radio, announced yesterday.
India's Bharti Enterprises plans to invest up to $2.5 billion in setting up a nationwide chain of supermarkets and retail shops in partnership with U.S. chain Wal-Mart, a top executive at the Indian company said Monday.
The retailing heavyweight is expected to post quarterly earnings of 90 cents a share, according to a Thomson Financial consensus estimate, up from 84 cents in the year-ago fiscal quarter. On Jan. 4, Wal-Mart said it would report fourth-quarter earnings between 88 cents and 92 cents a share.
Driven by soothing words from the Fed Chairman and the market's own mania for deals, stocks closed out last week on a high note. This week, traders will be ready to pounce on any news that will reinforce the view that the Fed might cut rates this year after all.
Mergers and would be-mergers, housing starts and producer prices could all influence the market today. Stocks look a bit weak on the opening after clinging to small gains yesterday that put the Dow at another record.
Stocks are grounded for now, after flying high yesterday on Fed Chairman Ben Bernanke's soothing comments about inflation. The markets look flat to mixed ahead of the open and a bunch of economic data. More testimony from Bernanke and several key data points could determine direction.
The world's largest country, geographically speaking, could soon get stores that are part of the world's largest retailer, Wal-Mart Stores.
C0ca-Cola said Monday it has reached an agreement under which several of its bottlers would dismiss two lawsuits against the world's largest soft-drink company and two of its largest bottlers.
Stocks finished lower as new worries about the mortgage lending market depressed financial shares and a late surge in oil prices drove energy stocks higher. "Crude rallied 4% in 10 minutes and it just turned energy stocks on a dime," said Michael Driscoll, Senior Managing Director in Equity Trading at Bear Stearns.
Frigid winter winds blew life into U.S. retailers' January sales as consumers snapped up cold weather clothes.
Yesterday, in an unusual show of camaraderie, Wal-Mart joined with the Service Employees International Union to call for universal health care coverage by 2012. The catch: They have no specific plan to achieve the goal. Presidential hopefuls in the 2008 campaign won’t get off that easy, though, especially because a large number of voters see this as....
Circuit City Stores said it is closing about 70 stores, most of them in Canada, and Chief Merchandising Officer Douglas Moore has left as the company responds to increased pressure in the electronics retail market.
Stocks look mixed to weaker ahead of the opening after yesterday's Dow rise into record territory reversed course, leaving the key index flat on the day. Early focus this morning is on the European Central Bank's rate decision and then retailers' January sales reports could help drive sentiment.
Amazon.com and TiVo will begin testing Wednesday a service that lets users watch videos rented or bought over the Internet directly on televisions, as part of a trend to link personal computers and TVs.
A ruling by the 9th U.S. Circuit Court of Appeals upheld a 2004 federal judge's decision to let the nation's largest class-action employment discrimination lawsuit go to trial.