S&P 500, Nasdaq, Dow Drop As Broader Tech And AI Selloff Continues — SPCX, BLZE, WMT, WEN, MU In Focus

Walmart will invest $300M in an Ohio fulfillment center for oversized items, creating 300 jobs. The facility will support next-day delivery, complementing an existing site. Walmart is also adjusting its warehouse network, including building and upgrading facilities in other states. According to the company, the move aims to expand fulfillment capabilities and speed up deliveries.

Meritage Hospitality Group, a Wendy's franchisee with 314 locations, filed for Chapter 11 and sued Wendy's over the termination of franchise agreements. Meritage claims the termination notice was defective, while Wendy's alleges Meritage owes $147 million in fees and royalties. The outcome may impact Meritage's operations and value.

The EEOC filed lawsuits against Walmart and UPS, alleging violations of the Americans with Disabilities Act. Walmart is accused of failing to accommodate a deaf employee, while UPS is accused of refusing to hire a deaf man due to his disability or accommodation needs, according to the EEOC's complaints filed in Virginia.

Walmart (WMT) is linked to a Class I recall of Hot and Mild Pico De Gallo by Taylor Fresh Foods due to potential Salmonella contamination. The recall affects multiple US states and highlights risks related to food safety and supply chain disruptions for the retailer.

Walmart Inc. plans a $300 million fulfillment center in Turtlecreek Township, Ohio, creating 300 jobs. The project will expand its regional operations and logistics network, according to company and local officials.

Walmart stock fell 2.1% after Mizuho cut its price target to $125, citing AI's impact on shopping. Target's price cuts and weak consumer confidence added pressure. Walmart's stock hit $105.35, down from its 52-week high of $135.16.