Wal-Mart Beats Amazon on Web Sales Growth and Morgan Stanley Gets a $5 Million Fine
Wal-Mart Stores Inc. (NYSE: WMT) has overtaken Amazon.com for the first time in ten years with web sales growing faster. This is according to the Wall Street Journal, which reported that Wal-Mart's global Internet sales rose 30 percent last year, while Amazon's registered a sales growth of "only" 20 percent. The newspaper cited data from trade publication Internet Retailer.
Wal-Mart Stores Inc. operates retail stores in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sams Club. It operates discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, restaurants, apparel stores, drug stores, and convenience stores, as well as various retail Websites, such as walmart.com and samsclub.com. The companys stores offer meat, produce, deli, bakery, dairy, frozen foods, alcoholic and nonalcoholic beverages, and floral and dry grocery; health and beauty aids, baby products, household chemicals, paper goods, and pet supplies; electronics, toys, cameras and supplies, photo processing services, cellular phones, cellular service plan contracts and prepaid service, movies, music, video games, and books; and pharmacy, optical services, and over-the-counter drugs.
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Morgan Stanley (NYSE: MS) has been fined $5 million by the Financial Industry Regulatory Authority over its wealth management unit and sales of initial public offerings that included Facebook. The company failed to differrentiate in its policy between “indications of interest” and “conditional offers” when selling 83 IPOs to its customers. The dates of the sales were from February 16, 2012 to May 1, 2013, according to Finra.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide. The companys Institutional Securities segment offers financial advisory services on mergers and acquisitions, divestitures, joint ventures, corporate restructurings, recapitalizations, spin-offs, exchange offers, leveraged buyouts, takeover defenses, and shareholder relations, as well as provides capital raising and corporate lending services. This segment is also engaged in sales, trading, financing, and market-making activities, including institutional equity, fixed income and commodities, research, and investment activities, as well as offers financing services, such as prime brokerage, consolidated clearance, settlement, custody, financing, and portfolio reporting services.
Get more information on Morgan Stanley and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/MS
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