Business briefs

Written By Unknown on Kamis, 11 Oktober 2012 | 10.46

Walmart

Walmart shares rose 1.7 percent to $75.42, the highest level ever, after the retailer said its back-to-school season was "very strong" and sales would grow as much as 7 percent next year.

iPhone

Apple's iPhone 5 supply shortfall is being exacerbated by a quality-control crackdown at Foxconn Technology aimed at cutting devices shipped with nicks and scratches.

Tighe Sullivan

Tighe Sullivan, co-founder of WCAS Fraser Sullivan Investment Management, died in a helicopter crash in Pennsylvania while returning from a golf outing. He was 51.

H&R Blocked

H&R Block slid 5.4 percent to $16.67 after hiring Goldman Sachs to advise on alternatives for its bank. The tax preparer may drop its designation as a savings and loan holding company after the Fed proposed rules requiring such firms to keep more capital.

Wet Seal

Activist investor Clinton Group said it will no longer push for the sale of retailer Wet Seal after winning control of the board last week, but will focus on turning the company around.

Reuters

Copyright 2010 Thomson Reuters. Click For Restrictions


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