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General Motors Company (NYSE:GM) will temporarily cease the production of the Chevy Volt, which is not good news for Polypore International, Inc. (NYSE:PPO), since the vehicle uses the latter’s lithium battery separators. In reaction, Polypore’s shares dipped on the day. Separately, GM intends to spend $ billion in fast-growing Russia during the next five years; company executive Tim Lee said that GM will use part of the money to boost output. The company currently builds vehicles at three sites in the country.
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Wal-Mart Stores Inc. (NYSE:WMT) has announced the return of its Great Gas Rollback program, which should help its customers save on their fuel purchases through three different ways. Customers who use a Walmart gift card will get a 10 cents per gallon discount, and if they use a Walmart MoneyCard or Walmart credit card, they will save 15 cents per gallon on their fuel purchase. The program will run from August 31st through December 24th.
Sears Holdings Corporation (NASDAQ:SHLD) obtains the okay of its board that will permit it to go forward with the spinoff of its remaining Hometown and certain hardware stores. September 7th has been set as the record date for the distribution.
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