Wal-Mart Stores Inc. has regained the No. 1 spot on the Fortune 500 ranking of the top US corporations, pushing Exxon Mobil Corp. down to No. 2.
With $351.1 billion in revenue, Wal-Mart Stores Inc. was almost $4 billion ahead of Exxon Mobil's $347.3 billion, the magazine said. But Wal-Mart`s $11.3 billion profit was dwarfed by Exxon Mobil`s $39.5 billion, the largest profit in history, Fortune said. Wal-Mart has topped the list for five of the past six years. Oil companies hold three of the top five spots, with ConocoPhillips Co. No. 5, bumping Ford Motor Co. to No. 7. Rounding out the top 10 are General Motors Corp. (No. 3), Chevron Corp. (No. 4), General Electric Co. (No. 6), Citigroup Inc. (No. 8), Bank of America Corp. (No. 9) and insurer American International Group Inc. (No. 10).
The most profitable companies were Exxon Mobil, United Airlines parent UAL Corp., Citigroup, Bank of America and General Electric, Fortune said. US Airways Group Inc. was the biggest gainer, moving up 208 spots to 216, and Avis Budget Group Inc., owner of the Avis and Budget car rental agencies, dropped the most, falling 291 spots to 405. Google Inc. ranked 241, up from 353 last year. (news.monstersandcritics.com)