Wal-mart’s Outlook in India and 2 Dow Movers for Tuesday
Wal-Mart Stores (NYSE:WMT): Current price $75.68
Though the prospect now seems unlikely, Wal-Mart had expected to become India’s top retailer by 2015, according to The Wall Street Journal. Sources say that the retailer opened only five wholesale stores there in 2012 and it plans to open eight locations in 2013. India’s elongated process for developing commercial real estate and operating stores appears to be problematic, but a larger reason for the delay has been a compliance crackdown at Wal-Mart.
Exxon Mobil Corp. (NYSE:XOM): Current price $90.82
Exxon Mobil and BHP Billiton Limited (NYSE:BHP) intend to establish the world’s biggest floating LNG processing and export plant off the northwestern shore of Australia, says Reuters.
Verizon Communications (NYSE:VZ): Current price $49.69
Vodafone Group (NASDAQ:VOD) shares jumped as much as 4.3 percent in London trading after a Financial Times blog reported that AT&T (NYSE:T) and Verizon Communications might make an offer for the firm, according to Bloomberg.