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(Reuters) - Walmart Inc expects full-year sales and profit growth to slow as it reinvests in its business, after revenue soared to $560 billion last year as people stocked up on groceries during the pandemic.
The world’s biggest retailer, which employs 1.5 million people in the United States, also said it is raising wages to more than $15 per hour on average. About half of Walmart’s hourly U.S. workers will earn $15 an hour or more, though there are some roles that will still start at $11 an hour, the company said.
Shares in Bentonville, Arkansas-based Walmart closed down 6.5% on Thursday. The company has invested heavily in online, advertising and healthcare businesses over the past year, using pandemic-led sales momentum to diversify beyond brick-and-mortar retail.
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NEW YORK (Reuters) - Frenzied speculation in the shares of GameStop may have subsided, but it is business as usual in a small corner of the market where traders looking to turbocharge their gains dabble in what may be some of the market’s most volatile funds.
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Leveraged and inverse exchange traded products (ETPs) - which aim to magnify the moves of an underlying index or stock several times over - account for only around 1% of the $5.9 trillion universe of U.S.-listed exchange traded products, according to CFRA.
Yet some of these ETPs are drawing heavy interest from both professional traders and retail investors, though no definite numbers are available on their participation rates. But it is another sign of the voracious appetite for risk that has gripped markets in the wake of unprecedented stimulus from the Federal Reserve, expectations of another fiscal package from lawmakers and a rally that has boosted the S&P 500 Index about 80% from its
Hedge fund Melvin Capital Management on Tuesday disclosed it had raised the put option on Class A shares of U.S. video game chain GameStop Corp to 6 million shares for the quarter ended Dec. 31, from 5.4 million shares in the past quarter.
London-listed online trading platform Plus500 plans to venture into North America after a surge in profits for 2020 as company benefited from a boom in small-time traders making big bets on financial markets.
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WASHINGTON (Reuters) - The U.S. International Trade Commission (ITC) said on Tuesday it would open an investigation after Ericsson claimed Samsung Electronics Inc had infringed on some of its patents in 4G and next generation 5G wireless cellular communications infrastructure systems.
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Ericsson said the Samsung products infringing on its patents are on the tower side of cellular communications, including antennas, radios and base stations and core network products that wirelessly connect to mobile phones and other cellular equipment.
Ericsson, which filed its complaint with the ITC on Jan. 15, also sued Samsung in U.S. District Court in Texas with allegations of patent infringement last month.