Heinz Faces SUIT and 4 Hot Morning Stocks Making Market Waves
Chevron (NYSE:CVX) has appealed against an injunction that would stop the company and Transocean (NYSE:RIG) from operating in Brazil until both the companies and some of their execs have faced a trial regarding last November’s oil spill at the Frade offshore field northeast of Rio de Janeiro. Also, Chevron wants to restart drilling at the field, which has been closed since March.
Amazon.com (NASDAQ:AMZN) intends to increase its U.K. presence by delivering parcels to small shops where consumers can pick up orders which they would have normally missed at home. The service, named Collect+, should also make it easier for British customers to return products.
Foot Locker (NYSE:FL) Q2 comparable sales shot up to 9.8 percent due to profitability across divisions, that includes Europe and direct-to-consumer. The company opened 47 new stores and closed 62 stores during the period.
Goldman Sachs (NYSE:GS) has shut down its Hudson Street Services unit, which was its attempt to sell research from independent analysts to institutional clients, after it discovered that fund managers had little interest. Independent research was supposed to be the next big thing following the end of the dot-com era which exposed some of the worst secrets of the sell-side at investment banks.
Heinz (NYSE:HNZ) faces a patent infringement lawsuit from a Chicago inventor claiming he generated the idea for the Dip & Squeeze condiment packages that have become popular recently. Although these spurious lawsuits against large corporations can be a dime a dozen, in this situation, the plaintiff claims that he e-mailed a high-level Heinz exec with the idea in 2006, and he received a response back within 20 minutes along with an invitation to give a presentation to management.
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