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Here are Tuesday’s top stories:
Wal-Mart Stores, Inc. (NYSE:WMT) is requesting that merchants reject a proposed settlement in which Visa, Inc. (NYSE:V) and Mastercard Incorporated (NYSE:MA) would pay them $7.25 billion for fixing swipe charges. The agreement “would not structurally change the broken market or prohibit credit card networks from continually increasing hidden swipe fees”, says Wal-Mart.
“The value message from McDonald’s Corporation (NYSE:MCD) has gone parabolic,” comments Howard penney at Hedgeye, as the conference call finds that the word “value” was mentioned a huge number of times. “A sign of things to come for the average Joe customer”, said the analyst.
Toyota Motor Corporation (NYSE:TM) will shell out more than $100 million, growing Canadian production of its Lexus SUVs and at the same time lowering output at its Japanese Kyushu plant. The changes will be offset by the additional manufacture of other vehicles at the factory, but the shift could indicate that the persistent strength of the yen is forcing Toyota to rethink its production strategy, which is currently concentrated in Japan.
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