Key Developments: Wal-Mart Stores Inc (WMT)
76.33USD
23 May 2013
$-0.70 (-0.91%)
$77.03
$76.83
$76.94
$76.25
8,048,141
7,853,924
$79.96
$63.29
Latest Key Developments (Source: Significant Developments)
Walmart Stores Inc Issues Q2 2014 EPS Guidance Below Analysts' Estimates
Walmart Stores Inc announced that for second quarter of 2014, it expects to be in the range of $1.22 to $1.27. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.29 for second quarter pf 2014. Full Article
WalMart Stores Inc Launches $5 Billion Four-part Bond Issue-Reuters
Reuters reported that WalMart Stores Inc has launched a $5 billion four-part bond issue with a similar structure to a deal the Company did in 2011. The retailer is planning to sell $1 billion of three-year notes at Treasuries plus 30 basis points, $1.25 billion of five-year notes at Treasuries plus 45bp, $1.75 billion of 10-year notes at Treasuries plus 82bp and $1 billion of 30-year notes at plus 102bp. The shorter tranches were slightly tighter than initial price thoughts. Proceeds of the deal, led by active joint books Barclays, Citigroup and Morgan Stanley, will be used for general corporate purposes. That deal consisted of a $1 billion 1.625% three-year at plus 40bp, a $1 billion 2.8% five-year at plus 57bp, a $1 billion 4.25% 10-year at plus 75bp, and a $2 billion 5.625% 30-year at plus 110bp. Full Article
Wal-Mart Stores Inc Increases Annual Dividend 18% To $1.88 Per Share
Wal-Mart Stores Inc announced that the Board of Directors approved an annual cash dividend for fiscal year 2014 of $1.88 per share, an increase of approximately 18% from the $1.59 per share paid during fiscal year 2013. The fiscal year 2014 annual dividend of $1.88 per share will be paid in four quarterly installments of $0.47 per share. The record dates are on March 12, 2013, May 10, 2013, August 9, 2013 and December 6, 2013. The dividend will be paid on April 1, 2013, June 3, 2013, September 3, 2013 and January 2, 2014. Full Article
Wal-Mart Stores Inc Issues Q1 2014 EPS Guidance Below Analysts' Estimates; Issues FY 2014 EPS Guidance In Line With Analysts' Estimates
Wal-Mart Stores Inc announced that it expect first quarter 2014 EPS to range between $1.11 and $1.16 and fiscal 2014 EPS to range between $5.20 and $5.40, which includes increased fiscal 2014 costs of around $0.09 per share for its e-commerce operations. Fiscal 2014 EPS guidance assumes that currency rates remain at today's levels and takes into account the Company's forecast for the annual effective tax rate to range between 32.0% and 33.0%. Additionally, the company's guidance considers the costs associated with the FCPA and compliance matters, which are estimated to be approximately $40 to $45 million for the first quarter of fiscal 2014. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $1.18 for the first quarter of 2014 and EPS of $5.37 for fiscal 2014. Full Article
Robbins Geller Rudman & Dowd LLP Announces Appointment As Lead Counsel In Suit Against Wal-Mart Stores Inc
Robbins Geller Rudman & Dowd LLP announced that the firm was appointed as lead counsel in a securities class action captioned City of Pontiac General Employees` Retirement System v. Wal-Mart Stores, Inc., Case No. 5:12-cv-5162-SOH, pending in the Western District of Arkansas. The City of Pontiac General Employees` Retirement System was appointed as lead plaintiff in this action on behalf of purchasers of Wal-Mart Stores Inc common stock between December 8, 2011 and April 20, 2012 (the Class Period) who suffered losses in connection therewith, including Class Period purchasers who sold those shares between April 23, 2012 and May 21, 2012. The action alleges that Wal-Mart and certain of its officers and directors violated the Securities Exchange Act of 1934 by failing to disclose that Wal-Mart and its executives were involved in a multi-million-dollar bribery scheme at the Company's Mexican subsidiary, Wal-Mart de Mexico (Wal-Mart Latin America). The complaint alleges that defendants knew, but concealed from the investing public during the Class Period, that the Company had violated the Foreign Corrupt Practices Act in connection with the bribery payments and that Wal-Mart management did not address ethical concerns in a 'timely and effective manner' as represented by defendants. Wal-Mart is the subject of a probe in Mexico by Mexican authorities and the subject of criminal and congressional investigations in the United States. Full Article
Wal-Mart Stores Inc Changes Fourth Quarter Dividend Payment Date
Wal-Mart Stores Inc announced that change in the payment date of the Company`s regular quarterly shareholder dividend of $0.3975 per share to Dec. 27, 2012. This fourth quarter installment of the Company`s current annual dividend rate of $1.59 was previously scheduled to be paid on Jan. 2, 2013. The record date associated with this dividend payment remains unchanged at Dec. 7, 2012. The Board of Directors approved on March 1, 2012, an annual dividend of $1.59 per share, which was approximately a 9 % increase from the $1.46 per share paid during the previous fiscal year. Full Article
Wal-Mart Stores Inc Files US Labor Charge Against Union-Reuters
Reuters reported that Wal-Mart Stores Inc is taking its first legal step to stop months of protests and rallies outside Walmart stores, targeting the union that it says is behind such actions. Wal-Mart filed an unfair labor practice charge against the United Food and Commercial Workers International Union, or UFCW, asking the National Labor Relations Board to halt what the retailer says are unlawful attempts to disrupt its business. Full Article
India investigates Wal-Mart Stores Inc Over Stake In Local Unit-Reuters
Reuters reported that Indian authorities are investigating claims that Wal-Mart Stores Inc violated foreign exchange rules when it invested $100 million in a domestic unit owned by its wholesale joint-venture partner, a law enforcement official said. An Indian lawmaker first raised the allegations in a letter to the prime minister in early September, 2012 and the complaint was subsequently passed from one government department to another without action being taken. Wal-Mart has denied any wrongdoing. The allegations relate to the Company's complex investment through debentures which could later be converted to an equity stake at a time when direct ownership by foreign firms was prohibited. Full Article
Wal-Mart Stores Inc Issues Q4 2013 EPS Guidance Below Analysts' Estimates; Raises Low End Of Prior FY 2013 EPS Guidance
Wal-Mart Stores Inc announced that for the fourth quarter of 2013, it expects diluted earnings per share (EPS) from continuing operations to range between $1.53-$1.58. This compares to last year's fourth quarter reported EPS of $1.51. For fiscal 2013, it is tightening and reaffirming the top end of earnings per share guidance to a range of $4.88-$4.93. This compares to the previous guidance of $4.83-$4.93. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $1.59 for the fourth quarter of 2013. Full Article
Wal-Mart Stores Inc Stops Selling Amazon.com's Kindles-Reuters
Reuters reported that Wal-Mart Stores Inc will no longer sell Amazon.com's Kindle eReaders and tablets, severing its relationship with a major competitor and placing a bet that consumers are more interested in Apple's iPad and other gadgets. The retailer, which has been trying to catch up to Amazon in online sales, said the decision was consistent with its overall merchandising strategy. Owners of Kindle tablets such as the new Kindle Fire HD can shop on the devices for millions of items beyond digital books. Full Article
Wal-Mart's S.Africa unit Massmart cautions on soft sales growth
JOHANNESBURG, May 22 - South Africa's Massmart Holdings said on Wednesday it expects lacklustre sales growth this year, as the unit of Wal-Mart Stores Inc battles with weak consumer demand in Africa's top economy.
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