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Stock Market & Financial Investment News

News Breaks
August 13, 2014
12:44 EDTWMTEarnings Preview: Wal-Mart sees Q2 EPS $1.15-$1.25, U.S. SSS flat
Wal-Mart Stores (WMT) is scheduled to report second quarter earnings before the market open on Thursday, August 14, with a conference call scheduled for 7:00 am ET. Wal-Mart, a member of the Dow Jones Industrial Average, operates retail stores in various formats under 69 different banners in 27 countries with its "everyday low price" philosophy. EXPECTATIONS: Analysts are looking for earnings per share of $1.21 on revenue of $119.0B, according to First Call. The consensus range for EPS is $1.17-$1.24 on revenue of $117.87B-$120.3B. LAST QUARTER: Wal-Mart reported first quarter EPS of $1.10, missing estimates of $1.15, on revenue of $115B against estimates of $116.27B. The company said severe weather in the United States negatively impacted EPS by approximately 3c. U.S. same store sales were flat in the quarter. Wal-Mart forecast Q2 EPS of $1.15-$1.25 and U.S. comp store sales "relatively flat." Guidance assumed incremental investments in e-commerce, headwinds from higher health care costs in the U.S. and increased investments in Sam's Club membership programs. NEWS: In its Q1 report, Wal-Mart said forecast its full-year effective tax rate 32%-34%, and at the high end of this range for Q2. On its earnings conference call, the company said it expected its capital expenditures to be heavier in the back half of the fiscal year, citing its accelerated rollout of additional small format stores. The company also said costs from higher benefit enrollment and utilization by U.S. associates and healthcare cost inflation would be a headwind of over $300M for the FY. During the quarter, Wal-Mart named Greg Foran as president and CEO of Walmart U.S., effective August 9. The company, which acquired online product discovery community Luvocracy, was set to reduce prices on 10% more items in an effort to combat rivals and woo more customers during this year's back-to-school shopping season, according to the company's executive VP for U.S. general merchandise, Steve Bratspies. Wal-Mart's Asda unit reportedly cut 1,360 jobs as part of an overhaul of its store management structure. Neil Ashe, President & CEO of Walmart Global eCommerce, predicted that the company's e-commerce sales would reach $13B this year. CEO Doug McMillon told the Code Conference in June that the company plans to accelerate the pace of its acquisitions, calling out 3-D printing, wearable computers, connected-home devices and mobile purchasing as areas of interest. STREET RESEARCH: Baird, which sees the potential for improving fundamentals in the second half of the year, believes the company is taking the appropriate steps to grow the business long term. Jefferies downgraded its rating on Wal-Mart shares to Hold from Buy and cut its price target to $76 from $89. The firm said the retailer's investment spending may not be yielding positive results and sees risk to annual guidance from elevated expenses and lackluster sales. PRICE ACTION: Wal-Mart shares are down almost 6.5% over the last three months and are down 6% year-to-date. In early afternoon trading, Wal-Mart shares are down fractionally to $74.03.
News For WMT From The Last 14 Days
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October 31, 2014
07:37 EDTWMTAmira Nature Foods expands U.K. distribution with Wal-Mart's Asda
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06:09 EDTWMTWal-Mart expands discounts for upcoming 2014 holiday season
Wal-Mart announced that on November 1, the retailer will reveal its first round of 2014 holiday season discounts on over 20K items. The company promises that it will be announcing additional deals and savings throughout the holiday season. Reference Link
October 30, 2014
12:43 EDTWMTWal-Mart to close 30 underperforming stores in Japan
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08:54 EDTWMTWal-Mart considers matching online prices from Amazon for holidays, WSJ says
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06:28 EDTWMTMajor merchant group could accept NFC technology, NY Times says
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06:04 EDTWMTMCX says unauthorized parties obtained email addresses of CurrentC participants
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October 29, 2014
11:48 EDTWMTCurrentC mobile payment system endures breach, Business Insider says
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07:53 EDTWMTMCX member stores block Apple Pay amid threat of fines, NY Times says
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October 28, 2014
11:44 EDTWMTGameStop weakness on Wal-Mart news a buying opportunity, says Piper Jaffray
Piper Jaffray believes the impact of Wal-Mart (WMT) on GameStop's (GME) used business will be immaterial and views today's pullback as a buying opportunity. Piper notes that the entrance of Wal-Mart into any market should not be taken lightly, but other retailers have tried and failed before to enter the used game business and that Wal-Mart's entry actually refutes the bear thesis on GameStop that the used game business is not attractive. The firm maintains its Overweight rating and $53 price target on GameStop.
10:27 EDTWMTGameStop retreats after Wal-Mart begins selling used video games
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09:08 EDTWMTWal-Mart says 1,700 stores selling pre-owned video games
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06:56 EDTWMTWal-Mart rejecting Apple Pay for consumer 'best interests', Business Insider say
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06:38 EDTWMTApple says Apple Pay in 220,000 locations already, Business Insider reports
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October 27, 2014
07:15 EDTWMTWal-Mart, Best Buy among companies rejecting Apple Pay, Business Insider says
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October 23, 2014
13:40 EDTWMTWal-Mart's Sam's Club offering services to small businesses
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October 22, 2014
09:50 EDTWMTCredit Suisse to hold a field trip
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October 20, 2014
07:42 EDTWMTWal-Mart de Mexico reports Q3 net income 4.87B pesos vs. 5.12B pesos last year
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