The Fortune 500 comes out just once a year, but the companies on it make headlines every day. Here then are today’s highlights of news and happenings coming from the biggest names in business.
By Shelley DuBois, reporter
IN THE MONEY Companies in the U.S. have cash again, and many are showing confidence to shareholders by raising dividends. 17 companies so far have said they have plans to raise dividends this month. Among them are CVS (CVS), JPMorgan (JPM), Bank of America (BAC) and Cisco Systems (CSCO). [Wall Street Journal]
MORE FEES ARE THE ANSWER for airlines, a couple of the biggest fliers are betting. Several major U.S. companies are trying to increase profits by offering to charge customers fees for more stuff through online stores. Many changes are in the works, among them: U.S. Airways (LCC) wants to charge different prices for window or aisle seats, Delta (DAL) is offering its online shoppers deals on paragliding lessons at their destinations and United Continental Holdings (UAL) will try to use its website to sell, among other things, door-to-door golf club pickup service. [Wall Street Journal]
A CHANGE IN CVS LEADERSHIP is on the way this spring as Larry Merlo prepares take the reins from Thomas Ryan on March 1st. Ryan, who has been with the company for 36 years, is the only CEO that CVS/Caremark has ever had. [Wall Street Journal]
BLURRING THE DRUG-GROCERY LINE Traditionally drug stores, both Walgreens (WAG) and CVS/Caremark are starting to offer more grocery items in the hopes of luring more shoppers in to buy other products. The strategy works, the companies claim, especially for coupon-clipping customers. [ABC]
MCDONALD’S COULD USE ONE OF THOSE COUPONS Food prices everywhere are up, and it’s jacking up the grocery bill at McDonald’s, (MCD) which is going to have to pay more for certain foods, beef especially. The company reported increased profits this year despite the food price increase, and will probably have to pass some of the burden of the higher cost of food on to its customers in 2011. [Financial Times]
PICKUPS FOR THE PEOPLE Trucks will be taking up more of GM’s assembly line in Michigan, the company has said, since consumer demand for heavy-duty pickups is back. That’s good for GM (GM), which stands to benefit from the high profit margin on that kind of car. Pushing trucks is part of the company’s overall turnaround strategy, as is selling more cars in China. GM seems on track–as the company announced its pickup plans, it said that for the first time, GM had sold more cars in China than in the U.S. [Wall Street Journal]
