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Why Tech Will Be 2021’s Top-Performing Sector
Investors might have thought they’d seen it all in 2020. But the stock market action was merely a preview of what’s to come in 2021. Q3 2020 hedge fund letters, conferences and more Just to take a quick look back, the market gave everyone a scare in 2020 when it bottomed in March. But then the S&P 500 surged 67% between March 23 and year-end. Certain stocks like Tesla (TSLA), Zoom (ZM) and Moderna (MRNA) performed even better, soaring by triple-digits. And now, we are going from one "year like no other" to another. Here's what I expect the new year will bring for investors… Stock Market Predic...
ValueWalk
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US sues Walmart over opioid crisis
New York (AFP) - The US Justice Department sued Walmart over its role in the opioid crisis on Tuesday, alleging the giant retailer wrongly filled prescriptions and worsened a public health disaster. The suit accuses Walmart of irresponsible handling of orders, filling thousands of "invalid" prescriptions and ignoring red flags about problem orders as it sacrificed public health in a drive to boost sales. Authorities could seek up to billions of dollars in penalties in the litigation that followed a multi-year investigation, the Justice Department said in a press release. "As one of the largest...
AFP
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Walmart reports strong US sales as it retreats from some overseas markets
New York (AFP) - Walmart scored another round of strong earnings Tuesday as it sharpens its focus on e-commerce growth and retreats from some overseas markets with the coronavirus roiling the retail economy.The world's biggest retailer enjoyed another quarter of lofty US sales, although the gains moderated from earlier in the pandemic when rival "non-essential" retailers were closed and shoppers boosted by US government stimulus funds.Executives said the pandemic had hastened shifts towards "omnichannel" retail that meets the needs of consumers who want to shop at home or retrieve packages at ...
AFP
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Walmart scores another strong quarter amid coronavirus upheaval
New York (AFP) - Walmart reported another strong quarter Tuesday, pivoting during the coronavirus pandemic, with more consumers shifting to e-commerce and shopping less frequently but with bigger orders.Net income came in at $5.1 billion, up 56.2 percent from the year-ago period, following a 5.2 percent increase in sales to $134.7 billion in the quarter ending October 31, easily topping analyst estimates. Walmart has emerged as a winner during the disruption of Covid-19, notching huge sales during the spring lockdowns when it kept selling while "non-essential" stores were shuttered and strengt...
AFP
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Walmart to end experiment with robots in US stores
New York (AFP) - Walmart has pulled the plug on a program to use robots to scan items in stores and help maintain inventory, a company spokeswoman said Tuesday.The retail giant had worked with Bossa Nova Robotics for five years employing elongated robots that take readings on inventory and utilize artificial intelligence to predict product movement and inventory needs.Walmart had announced earlier this year plans to employ the robots in around 1,000 of its 4,700 US stores.But the company reversed course after bringing the machines into around 500 stores, Walmart said."We've worked with Bossa N...
AFP
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In reversal, Walmart will keep guns in shopping areas
New York (AFP) - Walmart reversed course Friday and said it would keep guns in shopping areas, quickly shifting away from a plan to keep firearms away from customers.The retail giant had announced Thursday it would still sell guns and ammunition, but would not display them in retail spaces, citing unrest in Philadelphia this week. Some observers had also seen the move as an indicator of worry ahead of next week's US presidential election.The world's largest store chain performed a 180-degree turn on Friday."After civil unrest earlier this week resulted in damage to several of our stores, consi...
AFP
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Walmart pulls guns from sales floors, citing civil unrest
New York (AFP) - Walmart plans to remove guns and ammunition from its sales floors in the US following unrest in Philadelphia this week, a spokeswoman said Thursday.The retail giant will continue to sell the items to consumers who request them, but will pull them from displays. Guns and ammunition are sold at about half of US stores, primarily in locations where hunting is popular, a company spokeswoman said."We have seen some isolated civil unrest and as we have done on several occasions over the last few years, we have moved our firearms and ammunition off the sales floor as a precaution for...
AFP
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Walmart trials drone deliveries in North Carolina
Walmart is trialling drone deliveries in North Carolina.The multinational retail corporation is launching a pilot program in Fayetteville this week, which will see "select grocery and household essential items" delivered via automated drones operated by Israeli startup Flytrex.The unmanned aerial vehicle can reach speeds of up to 32 mph, travel 6.2 miles at a time, and, most importantly, can carry up to 6.6 pounds.A video demonstration of the drone in action, sees it gradually bring the contents down to the ground from 80 feet in the air without landing.The FAA approved the trial last year, an...
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