Wal-Mart Orders to Supplier Li & Fung Said to Be Normal and 2 Other Dow Movers to Watch
Wal-Mart Stores Inc. (NYSE:WMT): Current price $74.26
American orders are solid, says the world’s number-one supplier of clothes and toys to retailers Li & Fung Ltd., which has not seen any reductions from Wal-Mart. U.S. Chief Executive Bruce Rockowitz of Li & Fung observed that, “There hasn’t been any cutbacks from Wal-Mart orders. When you look across the orders that come from the United States, they are very solid for Wal-Mart.” The company’s orders from Wal-Mart comprise over 90 percent of its capacity for the year, according to Rockowitz in a Thursday emailed statement, which also indicated that the retailer is placing its orders for 2014 as normal.
Alcoa Inc. (NYSE:AA): Current price $8.20
President Barack Obama has selected Alcoa Chairman and Chief Executive Klaus Kleinfeld to join the President’s Advanced Manufacturing Partnership Steering Committee 2.0, which forms part of a continuing endeavor to maintain American leadership in the emerging technologies that will create high-quality manufacturing jobs and also improve America’s world competitiveness. Kleinfeld commented that, “Manufacturing is a core engine of economic growth, and innovation keeps that engine running. We look forward to using our innovation expertise to help ensure America remains the birthplace of technology breakthroughs that spur growth and create advanced manufacturing jobs.”
Verizon Communications Inc. (NYSE:VZ): Current price $46.77
Representatives from the American Red Cross, the Federal Emergency Management Agency and Verizon met on Friday with Jersey City Mayor Steven Fulop to emphasize the importance of disaster preparedness, emergency communications, and volunteerism. Besides that, the officials described the tools available to help people get ready for emergencies or disasters. The meeting was held at the Jersey City Office of Emergency Management and Homeland Security command center on Summit Avenue, and also showcased the fact that September is National Preparedness Month.