Walmart’s stock falls
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Palantir, NVIDIA stocks slip
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In response to the reports, stocks are now plummeting in futures trading. The Russell 2000 (-0.61%), the Dow (-0.42%), and the Nasdaq and S&P 500 (-0.35% each) are all declining in futures.
After disappointing earnings from The Home Depot and Target this week, Walmart was closely watched by investors today.
WMT Stock Price: According to Benzinga Pro, Walmart shares were down 5.02% at $97.42 at the time of publication Thursday.
Follow all the latest U.S. market action for Thursday here to see if stocks can shrug off their latest rotation-based wobble as investors eye Walmart earnings and continue to eye Fed Chair Powell's speech on Friday.
Shares of Walmart are trading more than 5% lower following the world’s largest retailer’s quarterly earnings release. The results, announced this morning, triggered a selloff that pushed the stock below key technical support levels.
Walmart's results WMT.N on Thursday show U.S. consumers across the spectrum are still flocking to the retailer's stores despite economic headwinds, but shares dipped as the company's margins ebbed and inventory costs rose.
4hon MSN
Walmart reports stronger-than-expected sales — but shares drop as profits get squeezed by tariffs
The world’s biggest retailer posted quarterly revenue of $177.4 billion — a hefty 4.8% jump that sailed past Wall Street’s $175.9 billion target.
Walmart’s adjusted earnings miss analysts’ estimates but second-quarter revenue tops forecasts. Tech stocks Palantir, Nvidia, and Intel extend losses.
Al Jazeera on MSN34m
Walmart scoops customers from rivals but warns inventory cost is rising
Second-quarter results showed that the retailer has continued to benefit from price sensitivity among US consumers.
Target also imports about half of its merchandise, compared to roughly 33% at Walmart, so it needs to raise prices at almost double the rate of Walmart to mitigate the tariff impact, Bank of America analyst Robert Ohmes said in a report this week.
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