Morning News: Wal-Mart Stores,Inc. (NYSE:WMT); Twenty-First Century Fox Inc (NASDAQ:FOXA) And Chevron Corporation (NYSE:CVX)

Boston, MA, 02/24/2014 – Wal-Mart Stores,Inc. (NYSE:WMT) has been put on the sidelines by the research firm Stifel Nicolaus. The Bentonville giant has been awarded ‘Hold’ rating now from ‘Buy’ and the price target is set as $83 as the firm sets a wait and watch stratagey for the retailer in the retail season. Last week, the company discussed the various issues like uneven customer confidence, escalated health costs and currency challenges confronting it in the upcoming quarter. Wal-Mart Stores,Inc. (NYSE:WMT) also stated its intention to work aggressively towards expansion in several parts through its small-store formats.

In what appears to be a victory for Twenty-First Century Fox Inc (NASDAQ:FOXA) and other broadcasters, Aereo online TV gets its first setback after a Federal judge in Utah relieved these broadcasters through an injunction, which bars Aereo from retransmission of their programs. The injunction was given on grounds of valid facts presented by the broadcasters in relation to patent infringement by Aereo. The decision will impact Aereo’s customers in parts of Denver and Salt Lake city. Broadcasters have appealed to the court against Aereo, which retransmits their programs at a cheaper monthly rate whithout giving any benefit to the broadcasters.

As per the 10-K filings, Chevron Corporation (NYSE:CVX)‘s average cost to pump a barrel of oil soared 10.6$ year-over-year to $17.10 per barrel. The rise in cost is as much as 56% in the last three years.The jump in oil prices has helped the company to counter some of the costs but not all of it. The company recorded a massive profit of $21.4 billion in 2013 but its earnings went downward in the last two years. Moreover, Chevron Corporation (NYSE:CVX) has spent enormous on projects which take years to build and generate revenues, as evident from a $42 billion shell out in 2013 and another $40 billion lined up for this year.

Like it? Share it!

Leave A Response