Wal-Mart Stores (WMT) stock has been on a roll since the company posted better than expected first quarter earnings last week. Today, they touched a new 10-year high of $63.95.
Wal-Mart stock wobbled a few weeks ago on a New York Times investigation said top company officials had failed to pursue bribery allegations. Today CalSTRS, the California teachers’ retirement system, saidit will vote against all current Wal-Mart board members because of poor oversight. CalSTRS holds 5.3 million shares.
But, despite the controversy, Wal-Mart’s first quarter report vaulted the stock to new levels. the company continues to grow same store sale sin the U.S.
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