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Wal-Mart Stores Inc. (NYSE: WMT) will raise wages of more than 1.2 million employees in February 2016, according to Zacks Investment Research. Around 500,000 employees who were hired before Jan. 1 will make at least $10 per hour. The base salary for assistant managers will also increase. The company warned investors that wage increases would hurt profits, and a pay hike for 500,000 employees would cost the company $1.5 billion, according to Bloomberg Business.