U.S. stocks rose, erasing most of yesterday’s drop, as improving manufacturing data tempered concern about the economy and Facebook Inc.’s $19 billion purchase of a messaging startup fueled optimism about deals.
Wal-Mart Stores Inc.’s Mexican and Central American unit plans to spend 15 billion pesos ($1.1 billion) to open stores and improve its e-commerce technology, aiming to spur growth in the region as U.S. sales slow.
Wal-Mart Stores Inc., the world’s largest retailer, reported fourth-quarter profit that trailed analysts’ estimates as an emphasis on low prices hurt margins. The shares tumbled the most in six months.
Wal-Mart Stores Inc., the world’s largest retailer, boosted its profit forecast for the year after the Sam’s Club chain and changes in merchandising helped the company halt a decline in U.S. store sales.
Wal-Mart Stores Inc.’s fourth- quarter forecast signals the world’s largest retailer stands to face more obstacles than competitors such as Target Corp. this holiday season as price-conscious consumers hold back in the sluggish U.S. economy.