Thursday, May 14, 2015

5/14/15 Thurs. am DuPont Defeats Nelson Peltz; Cisco's Results Rebound


 
http://www.dowjonesmonitor.com/
by Dan Kolber

Post No. 3,173 The following is brought to you by Intellivest Securities Research, Inc. Toward the end of this Blog is a list of the Dow 30 current CEOs, and a   recent ranking of the Dow 30 components by market capitalization and a summary of recent Dow 30 components'  SEC filings.

A  read of the print editions of  Thursday's  Wall Street Journal, Financial Times,  Investor's Business Dailey, New York Times, USA Today, Atlanta Journal & Constitution   & Daily Report (Ga. - carries Bloomberg) yielded the following stories about Dow Jones Industrial Average 30 component companies and the Dow with stories about the Dow aggregated first and then items about Dow Jones Industrial Average 30 companies presented alphabetically, followed by a separate table of Dow component's symbol and Wednesday's  closing   stock prices and related data in alphabetical order.

The Dow Jones Industrial Average: The Dow Jones Industrial Average closed Wednesday at 18060.49 down 7.74 or 0.04%  from Tuesday's close of 18068.23. For the year the Dow is up 1.33%. Of the 30   Dow components 19  gained and 11  declined.  The  biggest gainer dollar-wise was IBM up $1.73 and percentage-wise was Intel up 1.21%. The  biggest decliner dollar-wise was and percentage-wise was DuPont down $5.52 or 7.37%.

WSJ pC4 "DuPont pushes the Dow lower" by Saumya Vaishampayan says most US stocks ended lower with a drop in DuPont shares weighing on the Dow.

NYT pB8 "A meandering day ends not far from where it began" & AJC pA11 "Stocks stay unremarkable" by AP says weak US retail sales data helped set the stage Wed for a listless day of trading.

FT p19 "Wall Street" by Mamta Badkar says US stocks were little changed.

IBD pB3 "Indexes lose early gains, but some leaders rally" by David Saito-Chung says Wednesday's action saw a flat finish mixed vol while the current outlook is market is in correction.

As of the open of  the market on Thursday the current divisor for the Dow Jones Industrial Average found at page C3 of  Thursday's Wall St. Journal is 0.14985889030177.  Thursday's trailing P/E   ratio is 16.52 unchanged from Wednesday's   trailing P/E ratio of  16.52 (last year it was 16.27).  Thursday's P/E estimate is 16.31 unchanged from Wednesday's P/E estimate of 16.31 (year ago it was 14.78) and  Thursday's dividend yield is 2.27 unchanged from  Wednesday's dividend yield of  2.27 (last year it was 2.18). The Dow's all-time high was 18288.63 on March 2,  2015. The 12 year low close for the Dow was on March 9, 2009 when it fell to 6,547.05.

Wednesday's Dow Jones Industrial Average numerator is 2706.52 down 1.16 from Tuesday's average numerator of 2707.68.   This is the sum of all 30 closing prices. A short cut to the Dow numerator is to multiply the closing Dow by the Divisor. Now, if you divide the Dow numerator change for today by the divisor (0.14985889030177) you get the change in today's Dow. A dollar increase or decrease in a Dow stock results in a $6.67  change in the Dow Index.

The average closing price (the closing numerator divided by 30) of  Wednesday's Dow Jones Industrial Average was $90.22 down 65 cents from Tuesday's closing average of $90.87.  The median closing price of  Tuesday's Dow Jones Industrial Average was $87.50 (XOM/CAT) down  9 cents from Tuesday's median closing price of $87.59 (XOM/CAT).  The lowest volume was Travelers  and the highest volume was Cisco.

If  Wednesday   morning before the market opened you had purchased 100 shares of each of the Dow Jones Industrial Average 30 shares (assuming you could buy fractional shares and assuming no transaction costs or dividends) and sold at the close you would have lost $116  ($270,768 - $270,652).

5/13/15 Wed. 4:25 pm MarketWatch by  Anora Mahmudova and Sara Sjolin says U.S. stocks closed virtually unchanged on Wednesday, as early gains faded by the end of the session. The S&P 500 and Dow declined for the third consecutive day, following disappointing monthly retail sales figures.
The initial reaction to economic data was positive, as investors bet that the Fed would delay interest rate increases this year due to sluggish economic growth. However, gains fizzled out by the end of the session, with the main indexes closing flat.The S&P 500 SPX, -0.03%  closed less than a point lower at 2,098.48. The Dow Jones Industrial Average DJIA, -0.04%  ended 7.7 points lower at 18,060.49. The Nasdaq Composite COMP, +0.11%  eked out a gain of 5.5 points, or 0.1%, settling at 4,981.Peter Cardillo, chief market economist at Rockwell Global Capital, said markets remain stuck in a range.“Nothing seems to impact this market much on the negative side. But the weak retail sales suggest consumer spending, which accounts for two-thirds of the economy, is not taking off this quarter. This puts even a September rate hike into question,” Cardillo said.“But the bottom line why stock prices remain high is due to lack of alternatives,” he said. Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research, said he expected the market to remain range-bound until the Fed delivers its first rate hike.“It has been a battle between those who think good news is bad news and those who believe good news is good news. We believe the rates will go up later this year but uncertainty is keeping markets rangebound,” Frederick said.Data: The Commerce Department said sales at U.S. retailers were flat in April as Americans remained thrifty, a trend that’s intensified since the end of last summer despite cheaper gasoline. American spent more at restaurants and Internet sites, but they cut back on purchases of autos, home furnishings, electronic goods and fuel. Meanwhile, prices paid for imported goods fell 0.3% in April, as the lower cost of goods such as food and industrial supplies offset a rise in petroleum, the Labor Department said Wednesday. Excluding fuel, import prices fell by 0.4% last month. Stocks to watch: Shares of Dow component DuPont Co. DD, -6.76%  fell 6.8% after shareholders rebuffed a campaign by activist investor Nelson Peltz to take seats on the chemical firm’s board.Department-store chain Macy’s Inc. M, -2.45%  reported weaker-than-expected sales and profit in the first quarter. Shares declined 2.5%.
Ralph Lauren Corp. RL, -3.02%  shares fell 3% after the retailer said earnings in the first quarter fell 19% as foreign-currency impacts weighed on the company’s underlying revenue growth.
Pall Corp. PLL, +4.44% shares rose 4.4% after announcing a deal to be acquired by Danaher Corp. DHR, +1.57%                       
 Williams Partners L.P. WPZ, +22.70%  is up 23% after gas natural-gas company Williams Companies Inc. WMB, +6.21%  announced an agreement to buy the public equity of Williams Partners in a stock deal valued at $13.8 billion. Other markets: European markets gave up gains after initially gaining ground. Fresh data showed the region’s economy is picking up, with France and Italy returning to expansion. Asian markets closed mixed. The dollar moved lower against most other currencies. Oil prices gave up earlier gains and settled 0.4% lower at $60.50 a barrel. Gold prices GCM5, +1.95%  rallied and settled 1.8% higher at $1,213.90 an ounce, the highest level in more than five weeks.

Thursday's Dow News followed by Wednesday's Closing Dow Numbers:

American Express:  WSJ pC1 "Credit card firms reap rewards out of brand loyalty" by Robin Sidel says American Express rebates up to 5 points for each dollar charged at Starwood hotels on a co-branded card.

Apple:

Boeing:

Caterpillar:

Chevron:

Cisco: WSJ pB4 "Cisco logs continued improvement" by Don Clark, Tess Stynes says Cisco reported net income of $2.44 bil or 47 cents a share vs a year ago profit of $2.18 bil or 42 cents a share.  Rev rose to $12.14 bil from $11.55 bil for the latest quarter.

USAT p4B "Once a highflier, Cisco now runs under the radar" by Matt Krantz says analysts rate Cisco as outperform but it is now trading for 18 times its diluted earnings over the past 12 months.

Coke:

Disney:

DuPont:  WSJ pA1 "DuPont fends off activist in tight vote" by Jacob Bunge, David Benoit, WSJ pA10 "Capitalism wins at DuPont", USAT p1B "DuPont won't scare off activists - much" by Kaja Whitehouse, USAT p4B "DuPont", FT p11 "Peltz defeated in DuPont board bid" by Richard Blackden, Stephen Foley, Ed Crooks, NYT pB1 "DuPont wins showdown with activist" by Michael J. de la Merced say DuPont repelled a push by Nelson Peltz and his firm, Trian fund Management LP, to join is board.  Trian had sought 4 of 12 board seats saying DuPont should slash expenses, cut spending on research and consider breaking up.

Exxon:

GE:

Goldman Sachs:

Home Depot:

Intel:

IBM:

JPMorgan:  NYT pB1 "5 big banks expected to plead guilty to felony charges" by Ben Protess, Michael Corkery says JPMorgan is among this group accused of manipulating the foreign currency market.

Johnson & Johnson:  WSJ pB5 "Experimental drug shows promise" by Peter Loftus says Johnson & Johnson is among firms developing new treatments for multiple myeloma.

McDonald's:

Merck:

Microsoft:

Nike: IBD pB6 "Athletic shoe, clothing sales strong in Q1" by Vincent Mao says Nike in March put in a third straight quarter of double digit profit growth as earnings climbed 17% to 89 cents a share in its 3Q ended Feb.

Pfizer:

Procter & Gamble:

3M:

Travelers:

United Technologies:

UnitedHealth:

Verizon:  NYT pB1 "Technology behind ads is at heart of AOL deal" by Emily Steel, Sydney Ember, NYT pA1 "Verizon takes to the battlefield" by James B. Stewart, FT p14 "Verizon looks to AOL for mobile ads edge" by Shannon Bond, WSJ pB1 "$180 million for AOL boss" by Amol Sharma, Mike Shields say Tim Armstrong will get this when Verizon buys AOL.

Visa:

Walmart:

Wednesday's Closing Dow Numbers:

Symbol Last Sale Change % Change Share Volume Market
AXP▲ NYSE
AAPL▲ NASDAQ-GS
BA▲ NYSE
CAT▲ NYSE
CVX▲ NYSE
CSCO▲ NASDAQ-GS
KO▲ NYSE
DIS▼ NYSE
DD▼ NYSE
XOM▼ NYSE
GE▲ NYSE
GS▲ NYSE
HD▼ NYSE
INTC▲ NASDAQ-GS
IBM▲ NYSE
JPM▲ NYSE
JNJ▲ NYSE
MCD▼ NYSE
MRK▼ NYSE
MSFT▲ NASDAQ-GS
NKE▼ NYSE
PFE▼ NYSE
PG▼ NYSE
MMM▲ NYSE
TRV▲ NYSE
UTX▲ NYSE
UNH▲ NYSE
VZ▲ DualListed
V▼ NYSE
WMT▼ NYSE
***************
Here are the current CEOs of the Dow 30 Companies:

AT&T T Randall L. Stephenson (Dallas, TX)

Apple: Tim Cook (Cupertino, CA)

American Express AXP Kenneth I. Chenault (NY, NY)

Boeing BA W. James McNerney, Jr. (Chicago, Ill)

Caterpillar CAT Douglas Oberhelman (Peoria, Ill.)

Chevron CVX John Watson (San Ramon, CA)

Cisco CSCO John Chambers (San Jose, CA) to be replaced 7/26 by Chuck Robbins

Coca Cola KO Muhtar Kent (Atlanta, GA)

Disney DIS Robert Iger (Burbank, CA)

DuPont DD Ellen Kullman (Wilmington, DE)

ExxonMobil XOM Rex W. Tillerson (Irving, Tx)

GE Jeffrey R. Immelt (Fairfield, CT)

Goldman Sachs GS Lloyd Blankfein (NY, NY)

Home Depot HD Craig Menear (Atlanta, GA)

Intel INTC Brian M. Krzanich (Santa Clara, CA)

IBM Virginia M. Rometty (Armonk, NY)

JPMorgan Chase JPM Jamie Dimon (NY, NY)

Johnson & Johnson JNJ Alex Gorsky (New Brunswick, NJ)

McDonald's MCD Steve Easterbrook (Oak Brook, Ill)

Merck MRK Kenneth Frazier (Whitehouse Station, N.J.)

Microsoft MSFT Satya Nadella (Redmond, WA)

Nike NKE Mark Parker (Beaverton, OR)

Pfizer PFE Ian Read (NY, NY)

Procter & Gamble PG A. G. Lafley (Cincinnati, OH)

3M MMM Inge Thulin (St. Paul, MN)

Travelers TRV Jay S. Fishman (NY, NY)

UnitedHealth UNC Stephen Hemsley (Minnetonka, MN)

United Technologies UTX Greg Hayes (Hartford, CT)

Verizon VZ Lowell McAdam (NY, NY)

Visa V Charles W. Scharf (San Francisco, CA)

Wal-Mart WMT Doug McMillon (Bentonville, ARK)
***************************
Here are the Dow Jones Industrial Average 30 as of 3/22/15  ranked in order of market capitalization in billions:

1. Apple AAPL $733.34
2. Exxon Mobil XOM $354.62
3. Microsoft MSFT 351.78
4. Johnson & Johnson JNJ 284.72
5. Wal-Mart WMT 268.87
6. GE 255.65
7. JPMorgan Chase JPM 229.36
8. Procter & Gamble PG 228.84   
9. Pfizer PFE 209.91
10.  Verizon VZ 205.94
11.  Chevron CVX 201.24
12. Disney 184.28
13. Coke KO 177.49
14. Merck MRK 166.26
15. IBM 160.99
16.  Home Depot HD 153.44 
17. Cisco CSCO 145.18
18. Intel INTC 144.28
19. UnitedHealth UNH 113.62
20.  Boeing BA 108.83 
21.  United Technologies UTX 108.37
22. 3M MMM 105.68 
23. McDonald' s MCD 93.28   
24. Nike NKE 88.10
25. Goldman Sachs GS 87.21
26. American Express AXP 84.29
27. DuPont DD 67.31
28. Caterpillar CAT 49.21
29. Visa V 42.35
30. Travelers TRV 35.26
****************************************
Here are the latest 8K, 10Q & 10K & Proxy & certain other SEC filings as of 3/22/15  for the prior 90 day period:

Symbol & Co. Name/Date of Filing/Form Filed/ Comments

American Express AXP:
3/16/15 8K re: delinq. & write-off stats for 3 mos. thru 2/15/15
3/11/15 8K re: increase of quarterly dividend & repurchase of up to $6.6 of shares
3/2/15 8K re: issuance of preferred shares
2/24/15 10K re: FY ended 12/31/14
2/17/15 8K re: delinq. & write-off states for 3 months thru 1/15
2/12/15 8K re: end of exclusive deal w/Costco
1/21/15 8K re: 4Q & FY '14 earnings
1/15/15 8K re: delinq. & write-off delinq. stats. for 3 mos ended 12/31/14.

Apple AAPL:
3/13/15 8K re: amdmt. to employee stock purchase plan
2/9/15 8K re: issuance of notes
1/28/15 8K re: change to fin'l stmts due to change of reporting
1/28/15 10Q & 1/27/15 8K re: Qtr. ended 12/27/14
1/22/15 2 14A Proxies re: Annual Mtg of Shareholders on 3/10/15 at 9 am at HG at Cupertino, CA

Boeing BA:
3/13/15 14A Def. Proxy re: Annual Shareholders Mtg on 4/27/15 at 9 am at Field Museum, Chicago
2/20/15 8K re: issuance of senior notes
2/12/15 10K & 1/28/15 8K re: FY ended 12/31/14
2/10/15 8K re: retirement of Linda Z. Cook from Board
1/27/15 8K re: 4Qtr fin'l results

Caterpillar CAT:
3/19/15 8K re: sales thru 2/15
2/19/15 8K re: sales thru 1/15
2/17/15 & 1/27/15 8K re: FY ended 12/31/14
1/27/15 8K re: 4Qtr fin'l results
1/26/15 8K re: 3 mos ended 12/31/14 retail sales stats

Chevron CVX:
3/3/15 8K re: issuance of Floating Rate Notes
2/20/15 10K & 1/30 8K re: FY ended 12/31/14
2/3/15 8K re: election of Jeanette L. Ourada, Corp. VP & Comptroller
1/30/15 8K re: 4Qtr fin'l results

Cisco CSCO:
3/19/15 8K re: exec pre-arranged stock trading plan
2/18/15 & 2/11/15 8K re: 2Qtr ended 1/24/15

Coke KO:
3/2/15 Def. 14A Proxy re: Annual Mtg of Shareholders 11 am, Cobb Galeria Centre, Atlanta
3/10/15 & 3/3/15 8Ks re: issuance of Floating Rate Notes
2/25/15 10K & 2/10/15 8K re: FY ended 12/31/14
2/20/15 8K re: retirement from Board of James D. Robinson & Peter V. Ueberroth
2/18/15 8K re: Amdmt to employee stock option plans

Disney DIS:
3/13/15 8K re: voting results of 3/12 Annual Shareholders Mtg
2/11/15 Def14A re: shareholder proposals
2/5/15 8K re: Agreement for COO Thomas O. Stagg
2/3/15 10Q & 2/3/15 8K re: Qtr ended 12/27/14
1/16/15 Def. 14A Proxy re: Annual Mtg. of Shareholders at 10 am 3/12/15 at Palace of Fine Arts, SF

DuPont DD:
3/17/15 - 3/19/15 Def. Proxy 14A re: Trian's proposal to add Directors
2/5/15 8K re: election to Board of Edward D. Breent & James L. Gallogly
2/5/15 10K & 1/27/15 8K re: FY ended 12/31/14
1/27/15, 1/15/15, 1/14/15, 1/13/15, 1/9/15 (five) 14A Proxy: re: Nelson Peltz's Trian's proposal to break-up DuPont
1/12/15 8K re: 4Qtr fin'l results

ExxonMobil XOM:
3/10/15 8K re: 3/4/15 analyst meeting
3/6/15 8K re: issuance of Floating rate Notes
2/25/15 10K & 2/24/15 8K & 2/2/15 8K re: 10K for FY ended 12/31/14

GE:
3/10/15 def. 14A Proxy re: Shareholder Mtg 4/22/15 10am at Cox Conv. Ctr. Oklahoma City
2/27/15 10K re: FY ended 12/31/14
2/11/15 8K re: Amdmt By-laws re: proxy access by 3% holders
1/23/15 8K re: 4Qtr fin'l results

Goldman Sachs GS:
3/11/15 8K re: revised '15 Capital Plan
3/9/15 8K re: retirement from Board of Claes Dahlback
2/23/15 10K & 1/16/15 8K re: FY ended 12/31/15
2/8/15 8K re: issuance of Floating Rate Notes
1/23/15 8K re: issuance of notes
1/16/15 8K re: 4Qtr fin'l results

Home Depot HD:
2/24/15 8K re: FY & Qtr ended 2/1/15
1/16/15 8K re: replacement of Chairman of Board Francis S. Blake with Craig A. Menear

Intel INTC:
3/12/15 8K re: 1Qtr guidance
2/13/15 10K & 1/15/15 8K re: FY ended 12/27/14
1/15/15 8K re: fin'l results of 4Qtr ended 12/27

IBM:
3/19/15 Def. Proxy  14A Stockholders Annual Mtg at 10 am 4/.28/15 at Statehouse Conv. Ctr., Little Rock, Ark & nomination of Alex Gorsky, CEO, Johnson & Johnson & Peter R. Voser to Board
2/24/15 10K & 1/20/15 8K re: FY ended 12/31/14
2/5/15 8K re: issuance of debt securities
1/30/15 8K re: compensation amounts for execs for 2014
1/21/15 & 1/20/15 8Ks re: 4Qtr ended 12/31/14 fin'l results
1/7/15 8K re: exec promotions and amendment to bylaws to increase Board to 14 & election of Peter R. Voser to Bd

JPMorgan Chase JPM:
3/20/15 8K & 3/6/15 8K re: redemption of Bear Stearn Notes
3/6/15 8K re: release of '15 Dodd-Frank Act Stress Test results
2/27/15 8K re: redemption of Capital securities
2/25/15 8K re: 2/24/15 Investor Day Conf.
2/24/15 10K for FY ended 12/31/14
2/17/15 8K re: redemption of notes
2/12/15 8K re: issuance of Preferred Shares
1/23/15 8K re: closing of note offering

Johnson & Johnson JNJ:
3/11/15 Def. 14A Proxy for Annual shareholder Mtg a 10:30 am on 4/23/15 at State Theatre, New Brunswick, NJ
3/2/15 8K re: sale of Cordis Business for $1.99 bil to Cardinal Health
2/24/15 10K for FY ended 12/28/14
1/20/15 8K re: 4Qtr ended 12/28/14 fin'l results

McDonald's MCD:
3/20/15 8K re: stock award to execs
3/9/15 8K re: Feb. global sales
3/3/15 8K & 2/3/15 8K re: election of Stephen Easterbrook as CEO
2/24/15 10K for FY ended 12/31/14
2/10/15 8K re: Global sales for Jan.
2/4/15 8K re: TRC mini-tender offer
1/23/15 8K re: 4Qtr ended 12/31/14 fin'l results

Merck MRK:
2/27/15 10K & 2/4/15 8K re: FY ended 12/31/14
2/10/15 8K re: issuance of Floating rate Notes

Microsoft MSFT:
2/12/15 8K re: issuance of notes
1/26/15 10Q & 1/26/15 8K re: fin'l results for qtr ended 12/31/14

Nike NKE:
3/19/15 8K for Qtr ended 2/28/15
2/12/15 8K re: election & retirement of VPs
1/7/15 10Q & 12/2214 8K re: results of qtr ended 11/30

Pfizer PFE:
3/12/15 Def. 14A Proxy re: 4/23/15 Annual Shareholder Mtg at Short Hills, NJ
2/27/15 10K & 1/27/15 8K re: FY ended 12/31/15
2/10/15 8K re: $5 bil share buyback program
2/6/15 8K re: purchase of Hospira, Inc.
11/6/14 10Q for quarter ended 9/28/14
11/6/14 10Q & 10/28/14 8K re: 3Qtr ended 9/28/14

Procter & Gamble PG:
2/19/15 8K re: Consumer analysts Group conf. on 2/19/15
2/10/15 8K re: appointment of ex-Home depot CEO Frank S. Blake to Board
1/27/15 10Q & 1/27/15 8K re: 2Qtr ended 12/31/14 fin'l results
1/13/15 8K re: quarterly div. of 0.6436 cents payable 2/17 to record holders as of close of business

3M MMM:
2/23/15 8K purchase of Polypore's separation Media business
2/12/15 10K & 1/27/15 8K re: FY ended 12/31/14
1/31/15 8K re: 4Qtr fin'l results

Travelers TRV:
2/12/15 10K re: FY ended 12/31/14
1/22/15 8K re: qtr ended 12/31/14 fin'l results

United Technologies UTX:
3/13/15 Def. 14A Proxy re: Annual Mtg of Shareholders on 3/2/15 2pm at PGA Nat'l Resort, Palm Beach Gardens, FL
3/1/13/15 8K re: repurchase of $2.6 bil of stock
2/5/15 10K for FY ended 12/31/15
3/12/15 8K re: reviewing possible spin-off of Sikorsky Aircraft Business
1/26/15 8K re: 4Qtr fin'l results
1/23/15 8K re: separation agreement for ex-CEO Louis Chenevert
1/15/15 8K re: departure of exec Alain M. Bellemare

UnitedHealth Group UNH:
3/6/15 8K re: Barclays Global Healthcare Conf on 3/10 in Miami
2/17/15 8K re: exec. comp. changes
2/10/15 10K re: FY ended 12/31/14
2/6/15 8K re: Leenik Global Healthcare Conf. on 2/11
1/21/15 8K re: 4Qtr fin'l results

Verizon Communications Inc. VZ:
3/12/15 8K & 2/26/15 8K & 2/25/15 8K 2/12/15 8K re: results of exchange offer
2/23/15 10K re: FY ended 12/31/14
2/18/15 8K re: EVP changes
2/5/15 8K re: election of Mark T. Bertolini to Board
2/5/15 8K re: sale of assets, purchase of wireless towers & $5 bil stock buybacks
1/30/15 8K re: results of bidding for AWS-3 spectrum licenses in FCC auction
1/22/15 & 1/16/15 8Ks re: 4Qtr fin'l results
1/14/15 8K re: retirement from Board of Robert W. Lane

Visa V:
2/27/15 8K & two 1/29/15 8Ks: re: amd. by-laws to allow 4 for 1 stock splits
2/2/15 8K re: exec. changes
1/29/15 10Q & 1/29/15 8K re: 1Qtr ended 2/31/14 fin'l results
1/29/15 8K, 1/21/15 Proxy & 1/14/15 Proxy  re: amendment of Cert of Incorp. for stock split
1/28/15 8K re: dividend of 48 cents payable 3/3 for record holders on 2/13

WalMart WMT:
2/19/15 8K re: 4Q results
12/16/14 8K re: latest ruling re: class action lawsuit in Phil for underpaying employees - Braun/Hummel v. Walmart

NO MAS


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