Wal-Mart Conducts Internal Investigation and 4 Hot Stocks Making Waves

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Wal-Mart Stores Inc. (NYSE:WMT): In a regulatory filing that is concerned with its Q3 earnings report, Wal-Mart said that the Audit Committee of the company’s Board of Directors has begun an internal investigation into alleged violations of the U.S. Foreign Corrupt Practices Act, or FCPA, along with other alleged crimes or misconduct regarding foreign subsidiaries, including Wal-Mart de Mexico, and if previous allegations of such violations and/or misconduct were appropriately handled by the company. Additionally, the company has begun to conduct a voluntary global review of its policies, practices, and internal controls for FCPA compliance. Wal-Mart said: “Since the implementation of the global review and the enhanced anti-corruption compliance programs, the Audit Committee and the Company have identified or been made aware of additional allegations regarding potential violations of the FCPA. When such allegations are reported or identified, the Audit Committee and the Company, together with their third party advisors, conduct inquiries and when warranted based on those inquiries, open investigations. Inquiries or investigations regarding allegations of potential FCPA violations have been commenced in a number of foreign markets where we operate, including but not limited to Brazil, China and India.”

Target Corp. (NYSE:TGT): As retailers have begun to prepare for bitter-sweet Black Friday, and they are now not only focusing on the crowds that line up at the stores but also the masses shopping online from home. Most of the time, Thanksgiving weekend sales comes from Internet shoppers, according to the Wall Street Journal.

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GameStop Corp. (NYSE:GME): New software, pre-owned software, and new hardware sales saw a drop during the quarter as a result of the longevity of the current console cycle along with the difficult comparison of major new software titles that were released during Q3.

Solazyme Inc (NASDAQ:SZYM) has begun to rally due to yesterday’s announcement after market close stating that the company had launched a new partnership with Archer Daniels Midland (NYSE:ADM), and the company said that it would expand its joint venture with Brazilian agribusiness company Bunge Limited (NYSE:BG). As part of Solazyme’s deal with Archer Daniels Midland, together they  are to produce algal oils in Archer’s advanced fermentation plant. Solazyme intends to produce 20,000 metric tons of oil at the facility during 2014, along with extending to 100,000 metric tons in subsequent years, the company stated. Solazyme and Bunge have also agreed to the expansion of their joint oil production to 300,000 metric tons from their former target of 100,000 metric tons. Furthermore, the companies have decided to produce more oil types, including edible oils, which are to be sold in Brazil. Additionally, Solazyme reported a lower Q3 earnings per share loss than predicted, but its revenue was short of expectations. In a note to investors, Jefferies analyst Laurence Alexander claimed that company possesses several catalysts, including its deals with Bunge and Archer Daniels, and the launch of additional partnerships in North and South America. The analyst keeps a Buy rating but increased his price target to $23 from $22 on the stock. Piper Jaffray analyst Mike Ritzenthaler reduced the price target to $5 from $9 on the stock. Ritzenthaler has noted that Solzayme reduced its fiscal 2012 revenue guidance, and it questions whether there will be sufficient demand for the company’s oils with the expansion of its capacity. The analyst keeps an Underweight rating on the shares, which saw a boost of $1.21, or 17.07 percent, to $8.30 in early trading.

Amarin Corporation plc (NASDAQ:AMRN): Calcalist financial daily stated that Teva (NYSE:TEVA) is the top candidate to purchase Amarin, according to Reuters. The publication has also stated that AstraZeneca (AZZN) is also considering purchasing the Irish biopharmaceutical company. Amarin’s market value on Nasdaq is $1.6 billion.

Investing Insights: Target Earnings: Profitability Streak Remains Alive.

 


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