Verizon Partners with Competition to Bolster Lower Manhattan and 2 Other Dow Movers to Watch
Verizon (NYSE:VZ): Current price $50.98
Through its continued commitment to the revitalization and growth of lower Manhattan, Verizon is working jointly with Take the HELM, a competition that offers more than $1.25 million to innovative firms to open offices in the downtown area. For its part, Verizon will provide FiOS Quantum, its super high-speed Internet service, at no charge for one year to the winners in the startup category of the competition. Monday is the deadline for entering.
Chevron Corp. (NYSE:CVX): Current price $122.90
Late on Wednesday the energy giant said it anticipates lower output in the second quarter due to problems in Nigeria, Australia, Kazakhstan, and Thailand. Overall, Chevron said it produced 2.1 percent fewer barrels in April and May than year-over-year in 2012. The corporation is set to report its second-quarter earnings on August 2. Analysts polled by FactSet forecast that Chevron will post earnings of $3 per share versus $3.18 a share in the first quarter.
Wal-Mart Stores Inc. (NYSE:WMT): Current price $77.49
The retailing giant says it no longer plans to build three stores in Washington, D.C., after the city council voted to mandate large retailers to pay starting wages that are 50 percent higher than the minimum wage there. Additionally, Wal-Mart said it will consider its options in regards to three other Washington-area stores that are still being built. The bill, the Large Retailer Accountability Act of 2013, was passed by an 8-to-5 vote though Walmart warned it would leave the district. Wal-Mart spokesman Steven Restivo said, “Nothing has changed from our perspective: We will not pursue Skyland, Capitol Gateway, and New York Avenue and will start to review the financial and legal implications on the three stores already under construction.”
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