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Actionable news in WMT: WAL-MART STORES Inc,

Li & Fung Plunges After Wal-Mart Predicts Earnings Decline

Li & Fung Ltd., the global sourcing company, dropped the most in more than four months in Hong Kong trading after its biggest customer, Wal-Mart Stores Inc., predicted a decline in annual earnings.

The Hong Kong-based company plunged as much as 7 percent to HK$5.86, the biggest intraday loss since May 26. The city’s Hang Seng Index gained 0.9 percent. Wal-Mart shares tumbled 10 percent at the close in...