Walmart got a $24 billion boost after the retail giant announced that its subscription service, Walmart+, will launch on September 15.
Walmart got a $24 billion boost after the retail giant announced that its subscription service, Walmart+, will launch on September 15. Although it is yet to launch, Wall Street reacted positively. The company’s shares closed up more than 6% on Tuesday and its market cap rose to $418 billion. Investors will now watch to see whether customers sign up for this service or not and how the customers’ response would impact the sales growth of the retail giant. Click here to read more.
Unilever (NYSE: UL), the household goods conglomerate, plans to invest about $1.2 billion to significantly reduce its carbon footprint by eliminating petrochemicals from its cleaning products by 2030. The company will substitute petrochemicals used in products like Omo and Sunlight, with constituents created from plants and other biological sources. This year, Unilever was one of only seven of 182 major companies to receive an A rating for environmental friendly governance in the categories of climate change, water and forests. Click here to read more.
AMC Entertainment Holdings Inc said that it expects to open 140 more cinemas by Thursday as the release of the highly anticipated film “Tenet” drives demand for more cinemas to open. If AMC goes through with the re-opening of those cinemas, it will have roughly 70% of its cinema locations open. In its statement on Tuesday, the company said more guests returned since some of its cinemas opened two weeks ago than initially anticipated. After the announcement, the stock jumped 12% in after-hours trading. Click here to read more.
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Here are the biggest movers in pre-market trading
1. Tesla announces $5 billion stock offering following its 5-for-1 stock split. Click here to read more.
2. Dating App, Bumble, is preparing for an IPO above $6 billion. Click here to read more.
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