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Stock Market & Financial Investment News

News Breaks
March 18, 2014
10:14 EDTWMT, GMEGameStop drops after Wal-Mart announces used game trade-in plan
Shares of video game retailer GameStop (GME) are sliding after Wal-Mart (WMT) announced that customers would be able to trade in their used video games in return for store credit. Two research firms, however, remained largely upbeat on GameStop's outlook. WHAT'S NEW: Wal-Mart earlier this morning announced that customers will be able to trade in their used video games and use the store credit received on any other products sold by the company. Wal-Mart said it would accept thousands of games under the program, which will kick off next week on March 26. The retail giant added that it would sell the used games it receives. GameStop sells both new and used video games. ANALYST REACTION: In a note to investors earlier today, Robert W. Baird analyst Colin Sebastian said he saw little or no evidence that competition in the used game business would hurt GameStop's financial results. Wal-Mart and at least five other major retailers have tried in the past to enter the used video game market, but have met with only modest success, the analyst wrote. It's difficult to launch a profitable used game business, according to the analyst, who kept a $55 price target and Outperform rating on GameStop. Meanwhile, Oppenheimer analyst Brian Nagel thinks the news will weigh on GameStop's shares in the near-term. However, over the long-term, Nagel believes that GameStop has a "significant leg up" on any new entrant into the used video game market. Nagel kept a $47 price target and Outperform rating on GameStop. PRICE ACTTION: In early morning trading, GameStop fell $1.97, or 5%, to $37.78. Wal-Mart shares were fractionally higher near $74.83.
News For GME;WMT From The Last 14 Days
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August 18, 2015
09:39 EDTWMTActive equity options trading on open
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09:33 EDTWMTMarket moves lower at open
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09:23 EDTWMTOn The Fly: Pre-market Movers
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09:12 EDTWMTWal-Mart trading short-term pain for long-term gain, says Baird
Baird said Wal-Mart's Q2 results fell below expectations due to higher SG&A and softer gross margins caused by investments made to sustain top-line momentum. The firm feels the company is trading short-term P&L pain for long-term profit gain. Baird maintained its Outperform rating and $86 price target on Wal-Mart shares.
07:28 EDTWMTWal-Mart sees forex impacting FY16 EPS by approx. 15c per share
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07:23 EDTWMTWal-Mart see Q3 Sam's Club SSS flat to up 2% ex-fuel
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07:21 EDTWMTFutures suggesting slightly lower open
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07:21 EDTWMTFutures suggesting slightly lower open
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07:21 EDTWMTWal-Mart says 'optimistic' about prospects in China despite softening economy
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07:19 EDTWMTWal-Mart sees Q3 U.S. SSS up 1%-2%
Says U.S. introducing 8,000 new department manager positions. Says U.S. grocery home shopping pilots remain under way, says "encouraged" by performance of Neighborhood Markets format. Sees Q3 U.S. SSS up approx. 1%-2% vs. up 0.5% last year.
07:16 EDTWMTWal-Mart sees U.S. comps accelerating in short-term
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07:13 EDTWMTWal-Mart trades lower on outlook
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07:08 EDTWMTWal-Mart says updated FY16 EPS range includes headwinds in U.S. business
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07:06 EDTWMTWal-Mart sees operating profit pressured for remainder of year
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07:05 EDTWMTWal-Mart reports Q2 total revenue $120.2B, constant currency basis rev. $124.5B
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07:04 EDTWMTWal-Mart reports Q2 e-commerce sales up approx. 16%
E-commerce sales globally increased approximately 16% on a constant currency basis. Gross merchandise value, or GMV, increased approximately 18% on a constant currency basis. Q2 earnings were pressured by currency fluctuations, lower Walmart U.S. margins and investments in customer experience. Consolidated operating income declined 10%. CEO Doug McMillion says, "We're pleased that the investments we've made are helping to improve our business. Even if it's not as fast as we would like, the fundamentals of serving our customers are consistently improving, and it's reflected in our comps and revenue growth. In this case, our desired changes require investments, which are pressuring earnings this year. We're confident that our strategic plan will create robust sustainable growth for shareholder returns over time."
07:03 EDTWMTWal-Mart sees Q3 EPS 93c-$1.05, consensus $1.08
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07:03 EDTWMTWal-Mart cuts FY16 EPS view to $4.40-$4.70 from $4.70-$5.05
Consensus is $4.77.
07:02 EDTWMTWal-Mart reports Q2 EPS $1.08, consensus $1.12
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06:12 EDTWMTWal-Mart implied volatility of 23 at upper end of index
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