New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 20, 2013
12:22 EDTWMTEarnings Preview: Wal-Mart sees in-line Q4 EPS, analyst says comps have peaked
Wal-Mart Stores (WMT) is scheduled to report Q4 before the market open on Thursday, February 21, with a conference call scheduled for 7:00 am ET. Wal-Mart operates retail stores in various formats under 69 different banners in 27 countries with its "everyday low price" philosophy... EXPECTATIONS: Analysts are looking for EPS of $1.57 on revenue of $128.85B, according to First Call. The consensus range for EPS is $1.52-$1.59 on revenue of $127.52B-$130.19B... LAST QUARTER: Wal-Mart reported Q3 EPS of 1.08 against estimates for $1.07, on revenue of $113.9B against estimates for $114.95B. The company forecast Q4 EPS $1.53-$1.58 and reaffirmed the top end of its FY EPS view of $4.88-$4.93, consensus $4.92. In a regulatory filing related, Wal-Mart stated that the board's Audit Committee was conducting an internal investigation into alleged violations of the U.S. FCPA and other alleged crimes or misconduct in connection with foreign subsidiaries, including Wal-Mart de Mexico, and whether prior allegations of such violations and/or misconduct were appropriately handled by the company. The company also said it was conducting a voluntary global review of its policies. During the quarter, the company reported its "best ever" Black Friday events, but CEO Mike Duke later said that the fiscal cliff was affecting shoppers. Bloomberg reported that the Mexican unit of Wal-Mart used a current state governor to facilitate $156,000 in bribes meant to help open stores, an ex-lawyer for the retailer told company officials in 2005, according to documents released by members of the U.S. Congress. Wal-Mart (WMT) executives said February sales are off to the worst monthly start in seven years, calling sales a "total disaster" in internal emails, Bloomberg also reported; the company responded to the Bloomberg report by saying that "internal communications may lack appropriate context" ... STREET RESEARCH: Cleveland Research said Wal-Mart's U.S. sales have slowed significantly over the last 3-4 weeks and that Q1 comps to date are running negative. The firm sees downside to consensus estimates for the year. Earlier this month, shares were downgraded to Neutral from Overweight at JPMorgan, as the firm believes comps have peaked given pressures from the payroll tax increase and that earnings growth will be challenged going forward following successful company initiatives... PRICE ACTION: Year-to-date, shares are up just over 1%. Ahead of earnings, shares are trading up almost 1%.
News For WMT From The Last 14 Days
Check below for free stories on WMT the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
July 24, 2014
11:32 EDTWMTWal-Mart U.S. CEO change not likely due to current trends, says RW Baird
RW Baird believes the departure of Bill Simon from his post as CEO of Wal-Mart U.S. has more to do with the executive's long-term career planning than with current trends, which the firm believes remain sluggish. Baird keeps its Outperform rating and $84 price target on Wal-Mart.
08:38 EDTWMTWal-Mart volatility at historic low into Foran succeeding Simon as U.S. CEO
Subscribe for More Information
08:31 EDTWMTWal-Mart names Greg Foran as president and CEO of Walmart U.S.
Walmart announced that Greg Foran has been promoted to President and CEO of Walmart U.S. Foran succeeds Bill Simon who has been in the role since June 2010 and will be transitioning out of the company. Foran will assume his responsibilities on August 9 and will report directly to Walmart President and CEO, Doug McMillon. Simon will be available on a consulting basis for the next six months to ensure a seamless transition.
06:56 EDTWMTCourt rules Wal-Mart to show bribery probe documents, Reuters says
The Delaware Supreme Court ruled that Wal-Mart Stores must show a shareholder documentation that has to do with the firm's internal investigation of allegations it paid bribes in Mexico, according to Reuters, citing comments from a company spokeswoman. Reference Link
July 22, 2014
06:55 EDTWMTWal-Mart reduces prices more intensly for back-to-school, Bloomberg says
Subscribe for More Information
July 21, 2014
06:42 EDTWMTWal-Mart adds over $102M to Indian wholesale unit, Reuters says
Wal-Mart added fresh funds worth $102.9M into its Indian wholesale division last month, according to Reuters, citing a filing made by its Indian business to the Registrar of Companies. The filing detailed that the funds were allotted as share application money. Reference Link
July 15, 2014
05:53 EDTWMTStocks with implied volatility movement; CSCO WMT
Stocks with implied volatility movement; Cisco (CSCO) 23, Wal-Mart (WMT) 13 according to iVolatility.
July 12, 2014
12:50 EDTWMTWal-Mart sued by comedian Tracy Morgan over June crash, Reuters says
Subscribe for More Information
July 10, 2014
06:07 EDTWMTWal-Mart implied volatility of 11 at lower end of index mean range
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use