Walmart exceeds its goal on testing sites
Walmart Inc. has surpassed its goal of opening 20 coronavirus testing sites around the country by the end of April, according to a map on its corporate website.
The frequently updated map can be viewed at https://corporate.walmart.com/covid19testing. The site also has more details about the testing process.
Walmart will open its third Arkansas testing site today, at Fort Smith Park, a Walmart spokesman said Monday. It will operate Mondays through Wednesdays each week.
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The first Arkansas site, on the grounds of its Bentonville headquarters, opened in early April as a pilot site. A second is now open at 2700 S. Shackleford Road in Little Rock.
The retailer said in a recent blog post that it plans as many as 50 of the drive-thru sites nationwide.
Most Walmart testing sites are set up in Supercenter and Sam's Club parking lots. Anyone with symptoms of covid-19 can get tested, as well as health care workers and emergency responders whether or not they have any symptoms.
-- Serenah McKay
Saudi Arabia takes stake in Live Nation
Saudi Arabia has taken a 5.7% stake in Beverly Hills-based Live Nation, the world's largest concert promoter, according to a document filed with the U.S. Securities and Exchange Commission on Monday.
The investment, valued at about $500 million, comes as businesses like Live Nation that depend heavily on live events have been hit hard by the coronavirus pandemic. Concerns about the disease have shut down or postponed music festivals and concerts, including ones hosted by Live Nation.
The company said 8,000 shows were affected by the suspension of events from mid-March through March 31. Live Nation sold 15 million tickets for those shows, many of which were postponed. About 10% of the tickets sold were for shows that were canceled, Live Nation said.
Earlier this month, Live Nation said it was implementing a salary reduction program, hiring freezes, rent renegotiations and furloughs, among other cost-cutting measures.
The Kingdom of Saudi Arabia's Public Investment Fund has 12,337,569 Live Nation shares, worth about $500 million on Monday morning.
-- Los Angeles Times
State index begins week with 9.63 gain
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Monday at 355.69, up 9.63.
"A nice start to the week as the major U.S. stock market indexes jumped more than 1% Monday on news that more states prepared to ease stay-at-home orders and investors get ready for a very busy week of quarterly earnings reports," said Chris Harkins, managing director at Raymond James & Associates in Little Rock.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 04/28/2020