Toyota Recalls More Vehicles, Amazon’s Trial Offer of Prime Service: Consumer Business Update
Wal-Mart Stores (NYSE:WMT) sees Gilford Securities reiterating their Buy on Friday, remarking that they believe the retailer had a strong holiday season and that shares will rebound to its high near $78, and maybe even go beyond $80, following results that will be posted on Feb. 21st.
Among retailers facing a strike of dockworkers, Home Depot (NYSE:HD) and Lowe’s Companies (NYSE:LOW) will have the most to lose, which could entail port closings that would cut off shipments just before the profitable gardening season, according to Bloomberg.
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Toyota Motor Corporation (NYSE:TM) gets more bad news, after its various recalls over “unintended acceleration” in some vehicles. Now, the company said it will spend $1.1 billion to repair additional vehicles that were not covered by previous recalls, and also to reimburse customers who sold their Toyotas during the years 2009 and 2010. The news comes while Toyota reached a preliminary resolution in a class-action lawsuit about unintended acceleration. The new $1.1 billion program forms part of an “economic loss settlement” meant to satisfy court cases pending in United States District Court.
Amazon.com (NASDAQ:AMZN) currently offers a free 30-day trial of its Prime service to new customers. The promotion includes all facets of the service, such as instant streaming of movies and TV shows, and free two-day shipping for orders. Further, subscribers are able to borrow one free book from the Kindle library monthly. Subsequent to the end of the trial, the sole option for continuing Prime is paying a yearly $79 fee.
Don’t Miss: Amazon Thrives on the Holidays.