Reuters: Global Markets: Wal-Mart shares erase bribery probe declines

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Wal-Mart shares erase bribery probe declines May 17th 2012, 15:39 Tweet Share this Email Print Related News Nasdaq falls 1 percent 11:41am EDT Strong Wal-Mart profit trumps bribery probe concerns 11:35am EDT Jobless claims steady, mid-Atlantic factories sag 11:02am EDT Target raises profit forecast; shares inch up Wed, May 16 2012 Warren Buffett says buying stocks amid market dip Mon, May 7 2012 Analysis & Opinion Murky U.S. bribery law gets a dose of clarity Foreign bribery fines and settlements: Who should get the money? Related Topics Hot Stocks » Asian Markets » Workers walk through a new Wal-Mart store in Chicago, January 24, 2012. Credit: Reuters/John Gress Thu May 17, 2012 11:39am EDT (Reuters) - Shares of Wal-Mart Stores Inc (WMT.N) climbed as high as $62.48 on Thursday after the world's largest retailer posted strong earnings, erasing losses the shares suffered after a New York Times story on alleged bribery in Mexico. Before the report was published on April 21, Wal-Mart traded at $62.45. The shares fell 8.2 percent during the first three full days of trading after the report, dipping as low as $57.18 on April 25. The decline wiped out billions of dollars of market capitalization. Shares of Wal-Mart, a component of the Dow Jones industrial average .DJI, were up 5.3 percent at $62.34 in midday trading Thursday on the New York Stock Exchange. The company's quarterly profit and sales topped expectations, helped by a strong performance in the United States. (Reporting by Jessica Wohl in Chicago; editing by John Wallace) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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