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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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February 19, 2015
09:27 EDTWMTWal-Mart says U.S. store traffic positive for first time in 9 quarters in Q4
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08:47 EDTWMTWal-Mart down 1.2% to $85.25 after Q4 earnings beat, FY16 guidance miss
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08:42 EDTWMTWal-Mart sees Q1 Wal-Mart U.S. SSS up 1%-2%
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08:41 EDTWMTWal-Mart says hourly associates to earn at least $10 per hour by Feb. 2016
Doug McMillon, Wal-Mart Stores CEO, announced a new initiative on pay and training for U.S. associates. Approximately 500,000 full-time and part-time associates at Walmart U.S. stores and Sam's Clubs will receive pay raises in the first half of the current fiscal year. Current and future associates will benefit from this initiative, which ensures that Walmart hourly associates earn at least $1.75 above today's federal minimum wage, or $9.00 per hour, in April. The following year, by Feb. 1, 2016, current associates will earn at least $10.00 per hour. As part of today's announcement, Walmart and the Walmart Foundation also committed $100M over five years to help increase the economic mobility for entry level workers by advancing their careers. This initiative will benefit the retail and service industries. The Walmart Foundation will work with other foundations, employers, community colleges and non-profit organizations to address a fundamental challenge in America -- how to better train and advance workers in the retail and adjacent sectors. Today, more than 15 million people, including 7 million women, work in retail.
08:38 EDTWMTWal-Mart sees FY16 operating income pressured by investments
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08:38 EDTWMTWal-Mart lowers FY16 sales growth view to 1%-2% from 2%-4%
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08:36 EDTWMTWal-Mart raises annual dividend 2% to $1.96 per share
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08:34 EDTWMTWal-Mart sees Q1 EPS 95c-$1.10, consensus $1.14
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08:34 EDTWMTWal-Mart sees FY16 EPS $4.70-$5.05, consensus $5.19
08:33 EDTWMTWal-Mart reports Q4 underlying EPS $1.61, consensus $1.54
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05:10 EDTWMTWal-Mart February volatility increases into Q4 and outlook
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February 18, 2015
15:53 EDTWMTWal-Mart technical comments ahead of results
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15:35 EDTWMTNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.54... Priceline (PCLN), consensus $10.10... DIRECTV (DTV), consensus $1.40... Noble Energy (NBL), consensus 35c... Host Hotels & Resorts (HST), consensus 39c... Hormel Foods (HRL), consensus 64c... Discovery Communications (DISCA), consensus 41c... SCANA (SCG), consensus 73c... Quanta Services (PWR), consensus 51c... Patterson (PDCO), consensus 59c... Denbury Resources (DNR), consensus 23c... T-Mobile (TMUS), consensus 5c... Linn Energy (LINE), consensus 6c... Linn Co (LNCO), consensus 39c... Bloomin' Brands (BLMN), consensus 27c... Huntington Ingalls (HII), consensus $1.98.
14:31 EDTWMTWal-Mart February volatility elevated into Q4 and outlook
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12:55 EDTWMTEarnings Preview: Wal-Mart sees Q4 EPS $1.46-$1.56, U.S. SSS flat to up 1%
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February 17, 2015
09:19 EDTWMTDocument Security files patent infringement claims against Intel, others
DSS Technology Management, a subsidiary of Document Security (DSS), announced the filing of a patent infringement lawsuit against the Intel (INTC); Dell; GameStop (GME); Conn's Inc. (CONN) and Conn Appliances; NEC Corporation of America; Wal-Mart Stores (WMT) and Wal-Mart Stores Texas, and AT&T (T) in the United States District Court for the Eastern District of Texas, Tyler Division. DSS's complaint alleges infringement by Intel, Dell, GameStop (GME), Conn's, NEC, Wal-Mart, and AT&T of US Patents 5,965,924 and 6,784,552, which relate to semiconductor manufacturing.
February 13, 2015
09:06 EDTWMTWal-Mart shares remain overvalued, says Wolfe Research
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07:31 EDTWMTMexico forms alliance with Wal-Mart to improve farmworker lives, LA Times says
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February 12, 2015
07:49 EDTWMTWal-Mart February volatility increases into Q4 and outlook
Wal-Mart February call option implied volatility is at 23, March is at 17, June is at 14; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on February 19.
07:00 EDTWMTWal-Mart price target raised to $95 from $87 at Credit Suisse
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