Walmart (WMT) Stock Higher, Mexico Bribery Lawsuit Dismissed
NEW YORK (TheStreet) -- Shares of Walmart (WMT) - Get Report are up 0.03% to $73.54 in afternoon trading after a St. Louis appeals court dismissed shareholder allegations that the retailer allowed and then stifled an investigation of bribery at its Mexico unit.
In a 3-0 vote, the 8th U.S. Circuit Court of Appeals in St. Louis affirmed a lower court rejection of a federal complaint alleging the defendants failed to stop Walmart de Mexico executives from bribing officials to let them open stores faster, according to court documents.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate WAL-MART STORES INC as a Buy with a ratings score of B. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and notable return on equity. We feel its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.
You can view the full analysis from the report here: WMT
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