Wal-Mart Looks to Become Top Online Retailer in Brazil and 2 Other Dow Movers to Watch
Wal-Mart Stores Inc. (NYSE:WMT): Current price $72.68
Making a move to topple B2W Cia Digital as the No. 1 online retailer in Brazil, Wal-Mart is doubling its e-commerce staff in that country. The colossal retailer is establishing headquarters for its Latin American online business in suburban Sao Paulo. By the end of 2013, some 900 employees will be working at the facility and there are plans to increase the headcount to 2,000 in 2014 for Wal-Mart’s Brazilian online sales, said Vice President Flavio Dias.
Boeing Co. (NYSE:BA): Current price $105.08
Norwegian Air Shuttle ASA will offer flights from Scandinavia to California by employing the most recent group of Boeing Co. 787 Dreamliner planes, which it says have made long-haul discount routes newly doable. Services linking Stockholm with Los Angeles will start in March, to be followed by flights from Copenhagen in April and Oslo in June. The flights will have an introductory fare of $236 each way. CEO Bjorn Kjos, at a Tuesday news conference in Stockholm, said: “We believe that the U.S is low-hanging fruit. People love to fly cheap and they love to fly far.”
United Technologies Corp. (NYSE:UTX): Current price $102.23
A founder group company of the grounded Indian carrier Kingfisher Airlines Ltd. is requesting some $236 million in damages from engine-maker International Aero Engines for allegedly providing “inherently defective” engines, Reuters reports. United Breweries (Holdings) Ltd. has brought a lawsuit against International Aero Engines AG and its shareholders in a court in Bangalore, according to Kingfisher’s annual report, which was made publicly available Monday. IAE, which is partly owned by United Technologies Corp.’s Pratt & Whitney division, competes with CFM International, a joint venture of General Electric and France’s Safran, to supply engines for Airbus A320 jetliners.