4 Consumer Stock Stories for Labor Day Investment Shopping
Wal-Mart Stores Inc. (NYSE:WMT): Closing price $72.98
Wal-Mart on Thursday advised investors that it could provide as much as $50 million in low-interest loans or other types of payments to Bangladeshi factory owners for building improvements. The money is comprised of the more than $100 million in loans and access to capital that a group of North American firms including Wal-Mart and The Gap Inc. pledged last month. It would be necessary for the Bangladesh central bank to approve any foreign currency loan, and details in regards to lending rates also must be finalized.
Walt Disney Co. (NYSE:DIS): Closing price $60.83
Monsters University has crossed the $700 million mark at the global box office, becoming the fourth top-grossing film of 2013 after fellow Disney release Iron Man 3 ($1.2 billion) and two titles from Universal, Despicable Me 2 ($806.8 million) and Fast & Furious 6 ($786.7 million). There is but one territory left in which to open Monsters University, and that is South Korea, where it debuts September 12. The animated feature is helping stoke one of Disney’s best years ever in box office revenue.
Hertz Corp. (NYSE: HTZ): Closing price $24.03
Hertz on Friday reported the expansion of its Firefly brand, its deep value brand for price-conscious leisure travelers, into the United States. Launching throughout 2013, the first location, in Orlando, will start serving customers September 15, followed by Las Vegas, San Francisco, and Los Angeles. Hertz plans to have roughly 20 Firefly locations servicing airports in certain American leisure markets by year’s end. The firm said that Firefly will allow the company to re-enter the deep value, domestic leisure car rental market that it temporarily left after divesting its Advantage brand earlier in 2013.
Penske Automotive Group Inc. (NYSE:PAG): Closing price $39.03
The global automotive retailer announced Friday that it finalized its purchase of Western Star Trucks Australia Pty Ltd. — a distributor of commercial vehicles, related spare parts, and aftermarket support spanning Australia, New Zealand, and portions of Southeast Asia — from Transpacific Industries Group Ltd. The company will continue to be managed by the current management team.