Wal-Mart Might See Loosened Restrictions in India and 2 Other Dow Movers to Watch
Wal-Mart Stores Inc. (NYSE:WMT): Current price $78.21
On Thursday, India’s cabinet will consider easing a number of requirements for foreign retailers investing in the country’s supermarkets, say two knowledgeable government officials. The officials said that the cabinet will discuss possible amendments to rules that cover infrastructure investment, sourcing, and store locations. The Indian government is easing its rules to attract worldwide chains like Wal-Mart Stores Inc. and Tesco Plc. to its supermarket industry. The government modified state laws in September, in order to permit foreign retailers to own majority interests in stores selling multiple brands. So far, no overseas companies have tried for such licenses.
Pfizer Inc. (NYSE:PFE): Current price $29.32
A prosecutor said Tuesday that Pfizer will shell out nearly $491 million to resolve claims that it illegally marketed an organ transplant drug, and will return in excess of $27 million to Oklahoma state health care programs, including close to $700,000 to the state. United States Attorney Sanford Coats said that the agreement with Pfizer includes civil settlements with the federal government and the states, totaling $257 million. Roughly $230 million will go to the federal government, and the remainder to state Medicaid programs. Beyond the civil claims, Pfizer will pay a criminal fine of around $158 million, and forfeit assets amounting to $76 million.
Johnson & Johnson (NYSE:JNJ): Current price $93.79
Energizer Holdings Inc. said that it intends to acquire Johnson & Johnson’s feminine care brands in the United States, Canada, and the Caribbean for $185 million. A purchase of the o.b. tampon, Stayfree pad, and Carefree liner brands would give Energizer greater leverage against Procter & Gamble Co. and Kimberly-Clark Corp.’s feminine care product lines.