Wal-Mart Puts Expansion In India on Back Burner and 2 Other Dow Movers to Watch
Wal-Mart Stores Inc. (NYSE:WMT): Current price $73.28
According to the Financial Times, Wal-Mart has experienced a setback and is putting its expansion in India on hiatus as it has not added a wholesale shop — or what is called cash-and-carry — to its 20-store lineup since late October, adding that it debuted its first such location in 2009 in a joint venture with Bharti Enterprises.
A Bharti division, which operates the Easy Day convenience stores with technical and managerial support from Wal-Mart, also has not opened any stores since November, according to the newspaper. It also reported that Bharti has terminated leases on over a dozen locations during the past few months that would have become new stores.
The Boeing Co. (NYSE:BA): Current price $106.34
On Monday, Boeing and Xiamen Airlines said that they have finalized an order for six 787-8s, initially reported by Xiamen Airlines in May 2011. The order is valued at $1.3 billion at current list prices. President and Chief Executive of Xiamen Airlines Che Shanglun observed that, “Adding 787s to our all-Boeing fleet is a strategic decision to facilitate our international expansion plans. The range and efficiency of the 787 makes it an ideal fit in our new, non-stop international routes.”
Xiamen Airlines is China’s only all-Boeing fleet carrier, earning a profit for 27 straight years, and has one of the most consistently successful financial performances in the industry.
General Electric Co. (NYSE:GE): Current price $23.69
GE announced Monday that the Environmental Protection Agency has certified two of its Waukesha natural gas-fueled engine models for mobile, non-road applications. The company is able to offer a new, lower cost, lower emission choice for powering drill rigs and oilfield equipment rather than older diesel units. Producers are attempting to meet the nation’s rising demand for cleaner natural gas by developing unconventional oil and gas fields across the United States and Canada.