Wal-Mart Board Approves US$15 Billion Share Repurchase

June 13, 2009

, Inc., the World’s #1 retailer, authorized a US$15B share repurchase program as its stock performance trails other chains. The buyback replaces another US$15B program that had about US$3.4B of remaining authorization, the Bentonville, Arkansas-based company said last Thursday in a statement. Wal-Mart’s board didn’t put an end date on the latest repurchase, a spokesman, said today in an interview. Wal-Mart climbed 32 cents to US$51.19/shr at 11:36 a.m. in New York composite trading. of the company have trailed those of retailers that sell more discretionary items. Corp., the 2nd largest US discount retailer, gained 19% this year through last Wednesday, and Kohl’s Corp. climbed 27%. Wal-Mart reported last month that Q-1 Y 2009 net income and sales were little changed from a year earlier. Minneapolis based and Kohl’s, based in Menomonee Falls, Wisconsin, reported profit declines of 13% and 10%, respectively. Wal-Mart will retain customers it gained during the recession once the economy recovers, Chief Executive Officer Mike Duke, 59, said today at the annual shareholders meeting in Fayetteville, Arkansas. “When they have more discretionary spending, they’ll stay with Wal-Mart,” Duke said. “We are building long-term loyalty.”

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Understanding the Stock Exchange

September 2, 2008

Understanding the .

Understanding the Stock exchange

Understanding the

A , share market or bourse is a corporation or mutual organization which provides “trading” facilities for stock brokers and traders, to trade stocks and other securities.

On your last post “What is the ” I think you a little bit of a idea what is the . Today we are talk about the .

Stock exchanges also provide facilities for the issue and redemption of securities as well as other financial instruments and capital events including the payment of income and dividends. The securities traded on a include: issued by companies, unit trusts and other pooled investment products and bonds. To be able to trade a security on a certain , it has to be listed there. Usually there is a central location at least for recordkeeping, but trade is less and less linked to such a physical place, as modern markets are electronic networks, which gives them advantages of speed and cost of transactions. Trade on an exchange is by members only. The initial offering of stocks and bonds to investors is by definition done in the primary market and subsequent trading is done in the secondary market. A is often the most important component of a stock market. Supply and demand in stock markets is driven by various factors which, as in all free markets, affect the price of stocks (see stock valuation).

There is usually no compulsion to issue stock via the itself, nor must stock be subsequently traded on the exchange. Such trading is said to be off exchange or over-the-counter. This is the usual way that bonds are traded. Increasingly, stock exchanges are part of a global market for securities.

In other words, Stock exchanges are responsible for listing and trading the stocks of publicly-owned companies. Stock exchanges may be organized as physical markets where traders are in direct personal contact with each other, such as the floor of the New York . Entirely electronic stock exchanges such as the Nasdaq National Market may have no central location at all. The primary function of stock exchanges is to match buyers with sellers. Because they are always looking for ways to bring down transaction costs, stock exchanges are often early adopters of advanced technologies. Trading on stock exchanges is done exclusively by members of the exchange. In addition to trading amongst themselves for their own purposes, exchange members also execute trade requests for the general public.

Here are the main stock exchanges:

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