U.S. Economy Continues to Expand; Walmart Suffers in Q4
U.S. stocks close the trading day up after reports about the U.S. economy and manufacturing were released showing continuing expansion. Walmart (WMT) experienced a large drop in sales in the fourth quarter of 2013, revealing a profit loss of 21%, showing that all retailers no matter what the size had a rough end to 2013. Walmart sites the bad winter weather along with a reduction of the government's food-stamp program for their poor fourth quarter results. According to a Wall Street report, Grubhub Seamless has filed for a confidential IPO which could happen as early as the first half of this year.While it is unclear currently what the company will be valued at, the company does process around 150,000 customer orders on a daily basis.
Word on the Street
Published on Feb 20, 2014By InvestorGuide Staff