Wal-Mart roundup: Annual meeting, high-level resignations, Sell rating

|By:, SA News Editor

Wal-Mart's (WMT) annual shareholder meeting commences today in Arkansas with the usual pep rally atmosphere expected.

Inside the company is expected to sail past votes on instituting an independent chairman and clawback disclosures, while outside some organized protests over wages are already brewing.

Quietly most of the execs tied to the bribery scandal in Mexico have resigned, reports the NYT. The total amount spent on the internal and external investigations into Wal-Mart's compliance with the Foreign Corrupt Practices Act is now over $500M.

Belus Capital initiates coverage on Wal-Mart with a Sell rating and $71 price target.

Wal-Mart Annual Shareholder Meeting webcast