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    Ark. Business: Wells Fargo opening office in WLR

    2:33 PM, Feb 18, 2013   |    comments
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    LITTLE ROCK, Ark. (Arkansas Business) -- Stocks end mixed Friday amid signs that the economy might be losing steam again.

    For the full week, the S&P 500 keeping its winning streak alive, but just barely. It ended the full week nearly two points higher, enough to give it a seventh straight week of gains. That's the longest stretch of advances in more than two years.

    But the Dow ended the full week down 11 points. That index has now edged lower for two straight weeks.

    Walmart stock drops 2.2 percent

    Chief among the stocks losing ground on Friday were shares of Wal-Mart Stores Inc. of Bentonville.

    Wal-Mart was the biggest decliner in the Dow Friday.

    The stock fell a $1.52, or 2.2 percent, to $69.30 after Bloomberg News published excerpts from an internal e-mail that said sales in February were a, quote, "total disaster."

    The retailer, which reports earnings next week, said that sometimes internal communications lacked "proper context" and "are not entirely accurate."

    Wal-Mart executives attributed the slow performance to increased payroll taxes and delayed tax returns what one executive called, quote, "a potent one-two punch."

    Tyson subsidiary acquires Utah company

    Elsewhere in Arkansas, a Tyson Foods Inc. subsidiary makes an acquisition.

    Tyson Mexican Original Inc. announced Friday that it had acquired the assets of Don Julio Foods of Clearfield, Utah.

    The publicly traded meat processor did not release financial details of the transaction.

    Don Julio makes flour and corn tortillas and snacks, and sells to retailers throughout the country.

    Wells Fargo opening office in west Little Rock

    Arkansas Business has learned that Wells Fargo, the fourth-largest bank in the country, is opening what it calls a "commercial banking office" in west Little Rock this month.

    The office adds to the bank's limited lending presence in Arkansas -- which right now is three former Century Bank branches in Texarkana and Ashdown.

    Wells Fargo says Kevin Handley, a loan team manager whose region has included Missouri and Arkansas, west Little Rock to run the branch.

    According to a statement from the bank, "strong growth in Arkansas" has inspired Wells Fargo to "enhance the financial services it provides" here.

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