Wal-Mart Stores, Inc. (NYSE:WMT) CEO Doug McMillon feels that the economy is not moving that much. In CNBC’s “Squawk Box” on Wednesday, McMillon said that “the 2 percent to 3 percent growth range number” is like “kind of perpetual”. He added that looking forward to the next year, he feels there is no semblance of…
Microsoft Corporation (MSFT) Commits to Diversity, Approves CEO Pay
Microsoft Corporation (NASDAQ:MSFT) held its annual shareholder meeting Wednesday, its first under new CEO Satya Nadella. The event was attended by Microsoft’s former CEO Steve Ballmer, who stepped down from the company in February to focus on NBA’s Los Angeles Clippers, which he purchased for $2 billion. Also at the meeting is activist Jesse Jackson,…
Microsoft Corporation (MSFT) Update: CEO Nadella’s Compensation Reasonable
Microsoft Corporation (NASDAQ:MSFT) has issued its stance on the issue of its CEO being overpaid. A spokesman from the software products and services company has told Business Insider that ISS’ claim that Microsoft CEO Satya Nadella’s pay is too high is misleading, because the company will base Nadella’s pay, which includes stocks ownership, on company…
Wal-Mart Stores, Inc. (WMT) Reports Sales Growth, Matches Prices of Online Competitors
Retailer Wal-Mart Stores, Inc. (NYSE:WMT), reported a rise in same-store sales for the first time covering a period of 7 quarters. The company’s new and existing stores generated a quarterly sales of about $119 billion, up from $112 billion, pushed by demand for apparel and home goods. A 5.5% comparable sales growth in the company’s…
Alibaba Group Holding Ltd (BABA) Hits $9 Billion in Sales on Annual Singles Day Shopping Frenzy
The annual Chinese “Singles Day” Shopping Festival has recorded a total of $9.3 billion in sales for e-commerce conglomerate Alibaba Group Holding Ltd (NYSE:BABA), breaking the company’s sales record for the same event the previous year. The sales figure was realized past midnight after local online Chinese shoppers, together with online customers from overseas, have…
Alibaba Group Holding Ltd (BABA) Makes $2 Billion in First Hour of Annual Shopping Spree
Alibaba Group Holding Ltd (NYSE:BABA) has generated an amount of $2 billion in sales for the first hour that it served buyers in an online annual shopping spree popularly known as “11.11 Shopping Festival”. According to the company, the first 18 minutes of the sales festival has seen half of the $2 billion coming in,…
J C Penney Company Inc (JCP) Loses Nearly 11% Share Value Post Lower Same-Store Sales Forecast
The shares of the struggling retailer, J C Penney Company Inc (NYSE:JCP), tanked 10.88% after the company announced a lower same-store sales forecast for Q3 2014. The company stated lower sales in September as the primary reason for cutting its sales forecast. After the much awaited analyst day announcements from the retailer, the management announced…
Alcoa Inc (AA) Achieved Strong Quarter Results By Repositioning Its Portfolio, Says CEO Klaus Kleinfeld
Alcoa Inc (NYSE:AA) stunned the market with third quarter 2014 earnings surpassing the market estimates primarily because of lower operating costs and higher aluminum prices. The positive result from Aluminum Company is one of the first from S&P 500 companies to announce its quarterly results and hint towards the improvement of the U.S economy. CEO and…
Facebook Inc (FB) COO Sheryl Sandberg Spells out the Social Media Company’s Biggest Risks
Facebook Inc (NASDAQ:FB), just like any other social media company, has several risks that demands that the company keeps on reinventing itself to avoid collapsing or losing substantially to competitors. Sheryl Sandberg was in New York for the Advertising Week where she was interviewed by Fortune about the company’s plans as they surge into the…
Twitter Inc (TWTR) Invests $10 Million on MIT Social Media Research Project
Twitter Inc (NYSE:TWTR) will avail all tweets to Massachusetts Institute of Technology research group to analyze how people use social media to share ideas and achieve shared goals. The team will then come up with a robust communication tool that can be used by people for social, civic, and political collaborations. The tool will also…