Walmart just flashed a warning sign about the US consumer
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Walmart just posted its weakest comparable sales in over a year and the stock is sliding hard, yet one top UBS analyst is doubling down on his buy rating and says the three forces that drove shares to record highs are still very much in play.
Walmart raised its full-year financial forecasts after beating Wall Street expectations for revenue and adjusted earnings in the latest quarter, but the stock WMT fell over 7% during premarket trading as US comparable sales came in well below expectations. Investors also focused on slowing traffic and weaker spending per transaction.
Walmart is due to report earnings Thursday morning, with traders anticipating a big move from the retailer’s stock following the results.
Walmart beat estimates, raised guidance, and watched its stock crater 9% anyway. The reason buried in the CFO's comments explains why the quarter's biggest win may actually set up a painful Q3.
Walmart shares tumbled more than 9% on Thursday after the retailer reported weaker-than-expected US comparable sales, raising questions over whether the selloff has created an attractive entry point for investors even as debate over the stock's valuation continues.
Walmart stock falls 0.92% to $102.64 as the retailer expands its EV charging network to 100 locations across 20 states, boosting nationwide charging access.
Walmart shares are sliding after the nation’s largest retailer gave a disappointing forecast for the third quarter.