On Tuesday, Banco Bradesco SA (ADR) (NYSE:BBD)’s shares declined -1.41% to $5.60, as Brazil’s currency continues to fall, hitting a record low against the dollar.
The Brazilian real fell to its lowest level since the country first began using the currency over 20 years ago, due to concerns that President Dilma Rousseff will not be able to improve Brazil’s budget and avoid more credit rating cuts, Bloomberg reports.
Banco Bradesco is a Sao Paulo-based banking company that offers customers in Brazil a wide variety of financial products and services. Banco Bradesco is one of several Brazil-based stocks trading in the red last morning.
The real declined as low as 4.0122 per dollar, its weakest intraday level since 1994, Bloomberg added. Futures on Brazil’s benchmark Ibovespa stock index were down by 1.3% to 46,230 earlier this morning.
Banco Bradesco S.A. provides banking and financial products and services to individuals, companies, and corporations and institutions. The company operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. It accepts various deposit products, such as demand deposits, time deposits, checking accounts, savings accounts, interbank deposits from financial institutions, and accounts for salary purposes
Wal-Mart Stores, Inc. (NYSE:WMT)’s shares dropped -0.19% to $63.60, after that BMO Capital Markets said the retailer is showing signs that it’s starting to lose market share in the grocery segment, Business Insider reports.
Specifically, grocery sales, which make up about half of Wal-Marts’ total revenue, have been hurt by “miserable customer satisfaction ratings and slowing comparable store sales growth,” Business Insider added.
Competitors like Kroger and Publix Super Markets have been broadening their organic and fresh product base.
Wal-Mart Stores, Inc. operates retail stores in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam’s Club. It operates discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, restaurants, apparel stores, drug stores, and convenience stores, in addition to retail Websites, such as walmart.com and samsclub.com.
At the end of Tuesday’s trade, Johnson Controls Inc (NYSE:JCI)‘s shares dipped -2.26% to $39.75.
Johnson Controls Inc. on Friday said it plans to cut about 3,000 salaried jobs in the next two years as the manufacturer attempts to lift profit margins before spinning off its automotive-components business, according to the The Wall Street Journal.
The Milwaukee-based company, whose products comprise York air conditioners and Interstate car batteries, said the move is a part of an effort to reduce expenses by $250 million a year.
Johnson Controls said the job cuts, which amount to nearly 2.5% of its global workforce of 130,000, would occur across all its businesses, counting the automotive-seating-and-interiors unit that the company plans to transfer to shareholders as a stand-alone company next year. WSJ Reports
Johnson Controls, Inc. operates as a diversified technology and industrial company worldwide. Its Building Efficiency segment designs, produces, markets, and installs integrated heating, ventilating, and air conditioning systems, in addition to building administration systems, controls, and security and mechanical equipment.
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