Sirius XM Radio (NASDAQ:SIRI) reaches somewhat of a landmark as it reports that installations of its satellite radios have passed the 50 million mark. The company’s Radio service is now factory installed in nearly 70 percent of all new vehicles sold in the U.S.
Meat and food products maker Hormel Foods (NYSE:HRL) reports 16 percent higher volumes in its Grocery Products segment as its Spam and MegaMex brands see strong sales. Operating profit at the segment is up 32 percent. EPS guidance for Q3 is $1.79 – $1.89 despite rising costs of grain.
Lowe’s (NYSE:LOW) unsolicited offer for home improvement stores operator Rona Inc has been spurned by the latter. Rona has called Lowe’s business model “incompatible” with their own.
GE’s (NYSE:GE) European unit Opel will discontinue production at two of its four German plants for a period of 20 days between September to December 2012 in view of slow demand for vehicles in the region. The move has been agreed with the unions, and workers will be compensated in part for lost wages through subsidies to be made available under the government’s “Kurzarbeit” program.
Wal-Mart (NYSE:WMT) sees healthcare as new source of revenues and is making efforts to increase its market share by offering vaccines other than just flu and pneumonia at its network of 2,700 stores across the U.S. Effective Monday, stores will provide 10 immunizations, including for shingles and meningitis.
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