Here are several more breaking news stories which could affect market stocks in trading later today.
The following listed companies should see some movement: Chevron Corp. (NYSE:CVX), Safeway (NYSE:SWY), Sysco (NYSE:SYY).
Here is a more detailed look at the news that will affect each company when trading continues.
Chevron Corp. (NYSE:CVX)
Chevron Corporation (NYSE:CVX) has pumped an unprecedented $1million into Richmond political races.
All three of its candidates appear to have lost. The oil company’s mayoral candidate, Councilman Nat Bates, is losing to Gayle McLaughlin 37 percent to 40 percent. And Chevron’s city council candidates, Councilwomen Myrna Lopez and Maria Viramontes are tied for fourth place with 11 percent in a contest in which only three candidates will be elected.
Chevron Corporation (NYSE:CVX), a company that has dominated Richmond politics for years, likely will have very little influence at City Hall in the years to come.
Safeway (NYSE:SWY) has planned to replace Ocean Beach Safeway with Deluxe Modern Supermarket.
A decade old buildings surrounded by a notoriously problematic parking lot would be replaced by an expansive mixed-use development, with a supermarket twice the size of the old one.
Like the Lucky at Fulton and Masonic, there will be residential units above the store and this will be a decade-long process.
In addition, the new building may include space for small local retailers.
The company said that “Our goal is to design a new Safeway that reflects the special character of the Ocean Beach neighborhood and serves the grocery needs of the Outer Richmond.”
SyscoCorp (NYSE:SYY) has agreed to buy 45 acres from LNR Corp to build at Meridian park.
The company will officially move into the Meridian business park west of Interstate 215 near March Air Reserve Base, the land’s master developer has been finalized and has planed to build a 515,000 square-foot building at the property.
John Schaefer, project manager with LNR, told the sale will allow his company to build once again at the 1,290-acre business park. By March 2011, he expects all of the underground utilities to be installed.
The company is expected to create 250 jobs initially.
We may see more movement when trading continues for Chevron Corp. (NYSE:CVX), Safeway (NYSE:SWY) and Sysco (NYSE:SYY).