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Walmart Shares Jump Following Acquisition, Leading Dow Higher

The Dow Jones Industrial Average moved higher by about 0.3%, led by Walmart Stores Inc., during midday trading on Tuesday, while both the Nasdaq and the S&P 500 were holding relatively flat. Walmart shares rose more than 1% after the world's largest retailer acquired small New York City-based company Parcel. The acquisition is a play to go head-to-head with Inc. in the same-day delivery market, first focusing on the New York City area. The U.S. automakers all reported better-than-expected sales in September. General Motors Co. shares jumped more than 2% after reporting an 11.9% increase year over year, beating analysts' estimates for a 7.9% jump. GM's strong performance was driven by year-over-year gains of 17% at Chevrolet and 9% at GMC. Former Equifax Inc. Chairman and CEO Richard Smith apologized to the American people during Congressional testimony today for a data breach that exposed the personal data of nearly half the U.S. population. In his testimony, Smith said he takes "full responsibility." He said the failure to implement a software patch in March and a failed scan of the software contributed to the company's vulnerability. Equifax said on Monday that 2.5 million more U.S. customers potentially were impacted by the data breach, bringing the total to 145.5 million. Watch More with TheStreet: Amazon, Not Apple, to Become First Trillion Dollar Company: NYU's Galloway Has Tesla's "Unreal" Semi-Truck Been Caught on Camera? This Is Why Housing Is the 'Rock Star' of the Economy Here's Why Business Owners Face Extra Challenges in Small Cities
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