Wal-Mart’s Shift In Hiring Practices, FedEx Faces Off With the Fed, and 3 More Hot Stocks
Wal-Mart (NYSE:WMT): The retail giant seems to be padding its payroll with temporary workers in recent months, marking the first time that the company has done so outside of the holiday season. A Reuters survey of 52 stores run by the largest U.S. private employer in the past month, including one in every U.S. state, showed that 27 were hiring only temps, 20 were hiring a combination of regular full, part-time and temp jobs, and five were not hiring at all. However, the company maintains that is to ensure appropriate staffing, and not a cost cutting maneuver.
FedEx (NYSE:FDX): The company has pledged to fight the government on any charges that may result from a federal investigation into drug shipments by illegal online pharmacies, as the company finds itself a target of a criminal probe after decades of working with law enforcement agencies to combat attempts to use its network illegally.
Celgene Corp. (NASDAQ:CELG): Moody’s has brought Celgene’s rating from Stable to Positive, citing ”expanding use of Revlimid” coupled with ”pending approvals of Apremilast in psoriatic arthritis and Abraxane in pancreatic cancer.” The agency believes these factors will act as catalysts to ensure ”good growth momentum.”
Honda Motor Co. (NYSE:HMC): Honda is issuing a recall for 104,500 in 49 countries worldwide to fix problems with the brakes, about 18,000 of which are based in the U.S. The Acura RSX compact cars from 2006 and the Honda S2000 sports car from the 2006 and 2007 model years are effected by the recall, which the company says is attributed to power brake booster parts that weren’t made to specifications. That could cause a decrease in braking power over time and could increase the risk of a crash, though no injuries or accidents have been reported yet.
Rio Tinto plc (NYSE:RIO): Rio Tinto has sold its Eagle project in Michigan to Lundin Mining, for about $325 million as part of its campaign to shed its non-core assets. Construction at the site began three years ago and is about 55 percent complete, and Lundin plans to put another $400 million into making it operational.
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