Content about Economy of the United States

NEW YORK — Wall Street on Wednesday celebrated the "fiscal cliff" compromise as stocks across the board were trading up by some 200 basis points. As of noon, the Dow was up 1.7% and Nasdaq 2.3%. 

LAKELAND, Fla. — Publix Super Markets on Thursday announced it has signed a lease for a second store in the Charlotte, N.C. area. The store will be located at the intersection of South Boulevard and Iverson Way in Charlotte.

“We are excited to bring Publix to even more customers and associates in North Carolina and look forward to continued growth in the state and in our current operating areas,” stated Maria Brous, Publix media and community relations director.

WOONSOCKET, R.I. — CVS Caremark has announced the final results of its previously announced cash tender offers commenced on Nov. 26, 2012 of its 6.6% senior notes due 2019 and up to a maximum amount of its 6.125% senior notes due 2016 and 5.75% senior notes due 2017.

The offers expired on Dec. 21, 2012. An aggregate principal amount of about $1.74 billion of notes was tendered.
 

NEW YORK — Actress Drew Barrymore is developing her own makeup collection to be retailed exclusively at Walmart, according to published reports.

The cosmetics line, called Flower, is slated to hit more than 1,500 Walmart stores in January.

While this is the first time Barrymore has developed her own makeup collection, she is certainly no stranger to the world of beauty. Barrymore has been the face of Procter & Gamble’s CoverGirl brand since 2007 and, before that, had a stint as a spokeswoman for Lancome.

MISSISSAUGA, Ontario — Walmart Canada announced on Friday a donation of C$100,000 to Food Banks Canada to help local food banks improve access to food and services for those in need. 

Food Banks Canada's HungerCount 2012 shows 882,000 individuals turned to a food bank each month for help this year, and more than 339,000 of those assisted are children.

ROCHESTER, N.Y. — Kodak is selling its digital imaging patents for $525 million, the bankrupt photography company said.

The sale of the more than 1,100 patents, part of the company's restructuring efforts as it seeks to emerge from chapter 11 bankruptcy restructuring, involves the sale of the patents to a group of companies organized by Intellectual Ventures and RPX. According to published reports, companies buying the patents include Apple, Research In Motion and Google. Others include Adobe, Samsung, Fujifilm and China-based Huawei Technologies.

BENTONVILLE, Ark. — Karen Roberts was named EVP and general counsel for Wal-Mart Stores on Thursday amid the retailer’s ongoing investigation in possible violations of the U.S. Foreign Corrupt Practices Act.

Roberts, 42, is a 17-year Walmart veteran who most recently served as EVP and president of Walmart Realty for Walmart U.S. However, prior to that, she held the position of SVP and chief compliance officer for Walmart U.S. where she oversaw the establishment of food and product safety programs and a recycling program.

NEW YORK — Predictions of a more active flu season are coming true as temperature differences have helped drive flu activity, a Citibank financial analyst wrote.

In a letter to investors, Citi Research analyst Deborah Weinswig wrote that influenza virus activity in the week ended Dec. 8 increased year over year for the ninth consecutive time this season and increased significantly compared with last week — up 28.3% compared with last week's 20.7%.

ISSAQUAH, Wash. — Growth in sales and membership income at Costco helped the company produce earnings per share of 95 cents and beat analysts’ estimates by 2 cents.

CINCINNATI — Long-time Fred Meyer executive Lynn Gust was named president of the 133-store Kroger division.

Gust, 59, joined Koriger in 1970 as a parcel clerk and most recently served as the company’s SVP of operations. Gust was appointed to that position in 2011 and prior to that he served as EVP of corporate merchandising and advertising. During his career Gust also served as VP of the Fred Meyer food group and SVP of store operations.

PHILADELPHIA — Commuters in Philadelphia who have forgotten to go holiday shopping may want to head to their nearest bus stop.

The shelter of the bus stop across the street from 30th Street Station includes a display from Target that allows passengers to buy gift items by scanning QR codes with their mobile phones.

WOONSOCKET, R.I. — CVS Caremark executives expressed optimism going into 2013 and outlined its strategic growth framework, which leverages the company’s unique integrated model, during its annual Analyst Day held on Thursday in New York City.