91 stories mentioning WalmartUpdated 2d ago
Trading within a mixed consumer sector, where the Consumer Staples SPDR (XLP) slipped while the Consumer Discretionary SPDR (XLY) rose.
Consumer stocks were leaning lower premarket Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining by 0.7% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.2%.Walmart (WMT) stock was down more than 3% even after the company reported higher fiscal Q1 adjusted earnings and revenue.
US equity futures were edging lower pre-bell Thursday despite upbeat fiscal Q1 financial results posted by Nvidia (NVDA) and amid continued lack of solid progress in the Middle East peace talks.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.5% lower.In addition to surpassing analysts' expectations for fiscal Q1 adjusted earnings and revenue, Nvidia raised its quarterly dividend and announced an additional $80 billion share repurchase authorization. However, the company's stock was largely flat in premarket activity.President Donald Trump said the US was ready to resume attacks on Iran if its leadership did not agree to a peace deal, but that it could wait a few days. Iran's Supreme Leader has ordered the country's highly enriched uranium to not be sent abroad, which is one of the main US demands, according to a Reuters report citing two senior Iranian sources.Traders kept an eye on the latest round of earnings, with Walmart (WMT) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $106.80 per barrel and US West Texas Intermediate crude 2.4% higher at $100.62 per barrel.US initial jobless claims fell to a level of 209,000 in the employment survey week ended May 16 from an upwardly revised 212,000 level in the previous week, compared with expectations for a smaller decrease to 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March.The Philadelphia Federal Reserve's monthly manufacturing index fell to minus 0.4 in May after rising to 26.7 in April, compared with expectations for a smaller decrease to a reading of 17.8 in a survey compiled by Bloomberg.The May S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 53.8.Richmond Federal Reserve President Thomas Barkin is scheduled to speak on Thursday.In other world markets, Japan's Nikkei closed 3.1% higher, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 2% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Shell (SHEL) stock was up 1.2% and BP (BP) shares rose 1% after the companies, along with Indonesia's PT Perusahaan Gas Negara, and PT PLN Energi Primer Indonesia, signed agreements with Japan's Inpex for liquified natural gas offtake from the Abadi LNG Project at the Masela Block in offshore Indonesia. Shares of IBM (IBM), GlobalFoundries (GFS), and D-Wave Quantum (QBTS) were up after the companies said they are included among the major quantum companies set to receive billions in proposed US government backing. IBM stock was up 5.8%, GlobalFoundries shares rose 13%, and D-Wave Quantum stock was 15% higher.On the losing side, Intuit (INTU) stock was 16% lower after RBC and Northcoast Research cut their price targets for the stock. Palantir Technologies (PLTR) shares were down 1.2% following an Axios report about the company challenging Pentagon's Defense Intelligence Agency over its ability to bid for a contract to modernize the agency's data analytics system.
Walmart (WMT) issued a fiscal second-quarter earnings outlook below market estimates on Thursday, while the retail giant reported better-than-expected revenue in the previous three-month period.The company anticipates per-share adjusted earnings to be in a range of $0.72 to $0.74 for the ongoing quarter, while the current consensus on FactSet is for $0.75. The stock was down 2.2% in the most recent premarket activity.Sales are pegged to grow by 4% to 5% on a constant currency basis in the current quarter. The Street is looking for reported sales of $186.22 billion.For the quarter ended April 30, Walmart's total revenue, which includes membership and other income, improved 7.3% to $177.75 billion, topping the average analyst estimate of $174.84 billion. Adjusted EPS advanced to $0.66 from $0.61 in the prior-year period, in line with the Street's view."Our results reflect our continued focus on delivering across the enterprise," Chief Executive John Furner said in a statement. "It's a disciplined approach that's helping us grow the business and strengthen returns."US comparable sales excluding fuel inclined 4.1% buoyed by gains in transactions and average ticket, while e-commerce sales jumped 26%. Same-store sales in Sam's Club rose 3.9%, excluding fuel, amid higher transactions and unit volumes. Revenue in the company's international segment climbed 18% to $35.11 billion.For fiscal 2027, Walmart continues to project adjusted EPS to come in between $2.75 and $2.85 and sales to increase by 3.5% to 4.5% on a constant currency basis. The Street's current forecast is for non-GAAP EPS of $2.92 and reported sales of $749.05 billion.On Wednesday, Target (TGT) raised its full-year sales growth outlook on the back of higher-than-expected fiscal first-quarter results.
US equity futures were falling pre-bell Thursday despite upbeat fiscal Q1 financial results posted by Nvidia (NVDA) and amid continued lack of solid progress in the Middle East peace talks.Dow Jones Industrial Average futures were 0.2% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.5% lower.In addition to surpassing analysts' expectations for fiscal Q1 adjusted earnings and revenue, Nvidia raised its quarterly dividend and announced an additional $80 billion share repurchase authorization. However, the company's stock was largely flat in premarket activity.President Donald Trump said the US was ready to resume attacks on Iran if its leadership did not agree to a peace agreement, but that it could wait a few days. Iran's Supreme Leader has ordered the country's highly enriched uranium to not be sent abroad, which is one of the main US demands, according to a Reuters report citing two senior Iranian sources.Traders kept an eye on the latest round of earnings, with Walmart (WMT) posting higher fiscal Q1 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $106.80 per barrel and US West Texas Intermediate crude 2.2% higher at $100.45 per barrel.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 210,000 new unemployment claims for the week ended May 16, compared with 211,000 in the prior week, according to estimates compiled by Bloomberg. Housing starts for April are expected to come in at 1.41 million.The Philadelphia Fed's regional manufacturing index for May is seen coming in at 17.8, down from 26.7 posted previously.The May S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 53.8.Richmond Federal Reserve President Thomas Barkin is scheduled to speak on Thursday.
US equity markets were trending lower before the opening bell Thursday as traders monitor the latest developments in the US-Iran conflict and digest tech bellwether Nvidia's (NVDA) quarterly earnings.The S&P 500 fell 0.4% and the Dow Jones Industrial Average slipped 0.3% in premarket activity, while the Nasdaq was down 0.5%. The indexes finished the previous trading session higher, with the Nasdaq and S&P 500 snapping a three-day losing streak.Iranian Foreign Ministry spokesperson Esmaeil Baghaei said Thursday that Tehran is reviewing the latest US proposal to end the war in the Middle East, CNBC reported, citing state-run agency Nour News.President Donald Trump told reporters on Wednesday that negotiations with Iran had reached the final stages, though he warned of further attacks if Tehran backs out, according to several media outlets. "We'll either have a deal or we're going to do some things that are a little bit nasty," Trump said, according to a Bloomberg News report. "But hopefully that won't happen."Earlier on Wednesday, Iran's Islamic Revolutionary Guard Corps reportedly said that it would retaliate beyond the Middle East if the US or Israel resumed their military attacks against the country.West Texas Intermediate crude oil slipped 0.2% to $98.01 a barrel before the open, while Brent decreased 0.6% to $104.42.Shares of Nvidia (NVDA) slipped 0.2% pre-bell after the chipmaking giant reported fiscal first-quarter revenue above Wall Street's estimates, as data center sales outperformed expectations amid an artificial intelligence boom. For the current quarter, Nvidia said it anticipates revenue of $91 billion, plus or minus 2%.Intuit's (INTU) stock dropped 14% after the financial technology platform reported better-than-expected fiscal third-quarter results and disclosed plans to reduce its workforce by about 17%. Urban Outfitters (URBN) declined 1.4% after its financial results.Federal Reserve officials flagged the possibility of higher interest rates if the Middle East conflict drags on and keeps inflation above the 2% goal, minutes from the central bank's April meeting showed on Wednesday.Meeting participants generally determined that elevated inflation, combined with uncertainty around the duration and impact of the Iran war, could justify holding rates for longer than previously anticipated. However, majority of Fed officials pointed out that "some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%."Treasury yields were rising before the open, with the two-year rate gaining 6.6 basis points to 4.1% and the 10-year rate adding 5.1 basis points to 4.62%.Thursday's economic calendar has the housing starts and permits report for April at 8:30 am ET, along with the weekly jobless claims bulletin and the Philadelphia Fed manufacturing index for May. The S&P Global's (SPGI) flash purchasing managers' index for May is out at 9:45 am, followed by the Kansas City Fed manufacturing index for the same month at 11 am.Richmond Fed President Thomas Barkin is scheduled to speak at 12:20 pm.Walmart (WMT), Deere (DE), NetEase (NTES), Williams-Sonoma (WSM), Ralph Lauren (RL), Nio (NIO) and Advance Auto Parts (AAP) report their latest financial results before the bell, among others. Ross Stores (ROST), Take-Two Interactive Software (TTWO), Workday (WDAY), Zoom Communications (ZM) and Deckers Outdoor (DECK) release their earnings after the markets close.Gold was down 0.4% at $4,519 per troy ounce, while bitcoin fell 0.3% to $77,255.
US equity markets closed mixed Monday as President Donald Trump said the US was postponing a plan to attack Iran on Tuesday.The Nasdaq Composite declined 0.5% to 26,090.7, while the Dow Jones Industrial Average rose 0.3% to 49,686.1. The S&P 500 closed 0.1% lower at 7,403.1. Most sectors were in the green, led by energy, while technology saw the steepest decline.Trump said the US will hold off on its planned military attack against Iran that was previously scheduled for Tuesday, according to his social media post on Monday.Trump said Middle Eastern leaders, including Saudi Arabia Crown Prince Mohammed bin Salman, asked the US president to call off the attack amid "serious" ongoing negotiations to end the Washington-Tehran conflict.Trump, however, cautioned that the US will "go forward with a full, large scale assault of Iran" if a deal is not reached.Brent crude fell 0.4% to $108.85 per barrel in Monday late-afternoon trade, while West Texas Intermediate crude was last up 0.9% at $106.34 per barrel.Trump's latest rhetoric follows reports that Iran had provided an updated proposal for a deal to end the war. The White House indicated it doesn't reflect a meaningful improvement from a previous offer, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight."Progress on US-Iran peace talks continues to be immaterial, with both parties expressing a willingness to resume overt hostilities if the talks fail," Tudor Pickering Holt Analyst Matt Portillo said in a note sent earlier in the day.US Treasury yields were little changed in Monday late-afternoon trade, with the 10-year rate at 4.59% and the two-year rate at 4.07%.Nvidia (NVDA) shares fell 1.3%, the second-worst performer on the Dow. The chipmaking giant is expected to exceed Wall Street's first-quarter estimates and guide above consensus amid positive data points, Wedbush Securities said.Nvidia is scheduled to release its latest quarterly results after the markets close Wednesday.Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week. Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares jumped 9.4%, the second-biggest gainer on the S&P 500, while NextEra fell 4.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was up up 0.1% at $4,564.40 per troy ounce in Monday late-afternoon trade, while silver rose 0.3% to $77.80 per ounce.
US benchmark equity indexes were mixed after midday Monday as oil prices rose amid new developments in the Middle East conflict, while traders braced for Nvidia's (NVDA) latest financial results due out later in the week.The Nasdaq Composite was down 0.7% at 26,049.9 intraday, while the S&P 500 shed 0.3% to 7,387.2. The Dow Jones Industrial Average was 0.1% higher at 49,571.2. Most sectors were in the green, led by energy, while technology saw the steepest decline.West Texas Intermediate crude was up 1.5% at $107.01 per barrel, while Brent rose 1.4% to $110.84.Iran has provided an updated proposal for a deal to end the war with the US, though the White House indicated it doesn't reflect a meaningful improvement from a previous offer and is insufficient, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight. Over the weekend, US President Donald Trump said the "clock is ticking" for Iran to strike a deal.US Treasury yields were mixed intraday Monday, with the 10-year rate up 1.2 basis points at 4.61% and the two-year rate little changed at 4.08%.Nvidia shares were down 1.8%, the second-worst performer on the Dow. The chipmaking giant -- which is scheduled to release its latest quarterly results after the markets close Wednesday -- is considered by many investors as the "scoreboard" for the artificial intelligence boom, Saxo Bank said in a note Monday."The company does not only need to show that demand remains strong. It may need to show that demand is still accelerating, margins remain resilient, competition risk is contained, supply constraints are manageable, and China risk is manageable," Saxo said. "That is a high bar. And when the bar is high, even good news can create volatility."Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week.Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares were up 8.6% intraday Monday, the second-biggest gainer on the S&P 500, while NextEra fell 6.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was down 0.2% at $4,553.40 per troy ounce, while silver fell 0.2% to $77.41 per ounce.
US equity futures were lower pre-bell Monday as tensions remain high in the Middle East after the UAE and Saudi Arabia reported fresh drone incidents on Sunday, raising traders' concerns around a return to hostilities in the region.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.The UAE defense ministry said that a drone attack from the "western border" had caused a fire at a nuclear plant, while Saudi Arabia reported intercepting three drones that entered from the airspace of Iraq.President Donald Trump in a post on Truth Social urged Iran to "get moving" with regard to ending the conflict. "For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them," he said.Among the companies reporting financial results this week are Home Depot (HD), Nvidia (NVDA), Analog Devices (ADI), and Walmart (WMT).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $108.66 per barrel and US West Texas Intermediate crude 0.8% lower at $100.25 per barrel.The May US housing market index, slated for 10 am ET, is seen coming in at 34, unchanged from the prior month, according to estimates compiled by Bloomberg.Cheryl Venable, interim president of the Federal Reserve Bank of Atlanta, is slated to speak on Monday.In other world markets, Japan's Nikkei closed 1% lower, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was 0.8% higher in Europe's early afternoon session.In equities, Dominion Energy (D) shares jumped 15% after the company and NextEra Energy (NEE) said they agreed to combine in an all-stock deal. ServiceNow (NOW) stock was up 5.1% after the company and Experian said they launched a multiyear partnership on autonomous AI agents across various platforms. Baidu (BIDU) shares were up 4.2% after the company posted Q1 non-GAAP earnings and revenue that surpassed analysts' consensus.On the losing side, Tesla (TSLA) stock was down 0.9% after the company reportedly raised prices for several Tesla Model Y variants in the US, media outlets reported Saturday. Regeneron Pharmaceuticals (REGN) shares were 12% lower after the company said its phase 3 skin cancer trial evaluating two dose levels of fianlimab in combination with cemiplimab failed to meet a primary endpoint. NextEra Energy stock was down 1.3% after the merger with Dominion Energy was announced.
US equity futures were lower pre-bell Monday as tensions remain high in the Middle East after the UAE and Saudi Arabia reported fresh drone incidents on Sunday, raising traders' concerns around a return to hostilities in the region.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.4% lower.The UAE defense ministry said that a drone attack from the "western border" had caused a fire at a nuclear plant, while Saudi Arabia reported intercepting three drones that entered from the airspace of Iraq.President Donald Trump in a post on Truth Social urged Iran to "get moving" with regard to ending the conflict. "For Iran, the Clock is Ticking, and they better get moving, FAST, or there won't be anything left of them," he said.Among the companies reporting financial results this week are Home Depot (HD), Nvidia (NVDA), Analog Devices (ADI), and Walmart (WMT).Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.2% at $109.12 per barrel and US West Texas Intermediate crude 0.3% lower at $100.77 per barrel.The May US housing market index, slated for 10 am ET, is seen coming in at 34, unchanged from the prior month, according to estimates compiled by Bloomberg.Cheryl Venable, interim president of the Federal Reserve Bank of Atlanta, is slated to speak on Monday.
The benchmark US stock measures were tracking in the red before the opening bell Monday as investors monitor the ongoing US-Iran tensions and await the latest financial results of tech bellwether Nvidia (NVDA) later in the week.The S&P 500 declined 1.3%, the Dow Jones Industrial Average dropped 0.6% and the Nasdaq was off 0.1% in premarket activity. The indexes finished Friday trading lower.Tensions between the US and Iran remain in focus amid no apparent progress toward a peace deal between the two sides. President Donald Trump said in a social media post on Sunday that the "clock is ticking" for Iran to agree to a deal and that "they better get moving, fast, or there won't be anything left of them."Iran's semi-official Fars news agency said the US has set five main conditions for a peace deal, including transferring uranium tied to Tehran's nuclear program to Washington, Bloomberg News reported. Iran's Mehr news agency reportedly said the US has offered "no tangible concessions" to Tehran.A drone attack caused a fire at a nuclear power plant in the United Arab Emirates on Sunday, while Saudi Arabia said it intercepted three drones that entered from Iraqi airspace, according to CNBC.West Texas Intermediate crude oil rose 0.8% to $106.27 a barrel before the open, while Brent was up 0.7% to $110.08.Nvidia is scheduled to release its latest quarterly results after the markets close on Wednesday. "We fully expect the leading supplier of AI silicon will again exceed estimates and guide above Street given continued positive data points through (the calendar first quarter)," Wedbush Securities said in a Monday client note.Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to announce their earnings this week.Treasury yields were trending higher in premarket action, with the two-year rate increasing 0.4 basis points to 4.09% and the 10-year rate adding 0.8 basis points to 4.6%.Monday's thin economic calendar has the housing market index for May at 10 am ET. Federal Reserve Bank of Atlanta interim President Cheryl Venable is slated to speak at 8:30 am.Shares of LiveRamp (RAMP) jumped 27% pre-bell after the data collaboration platform agreed to be acquired by French advertising and public relations firm Publicis Groupe in an all-cash deal with an enterprise value of about $2.17 billion. ServiceNow (NOW) was up nearly 3% while UnitedHealth (UNH) fell 4.9%.Gold slipped 0.4% to $4,544 per troy ounce, while bitcoin fell 2% to $76,723.
Walmart's (WMT) consistent top-line growth is expected to be rewarded by the market, while its digital profit margin acceleration is anticipated to result in EPS revisions over the next 12 months, BofA Securities said in a Friday note.Core customers of the company will likely prove resilient, and a prolonged period of macro volatility and higher gas prices will result in more households looking to more discount-oriented retailers such as Walmart, according to the note.BofA analysts said they project Q1 EPS at $0.65, including an assumption of Walmart US same-store sales of 4.5%. The analysts added that they predict the company to follow its trend of maintaining conservative fiscal year guidance after fiscal Q1 results.Membership trends across Walmart franchises are expected to stay robust amid the company's offerings of value-driven perks such as free shipping, same-day delivery on orders over $35, and fuel savings per gallon, the note said.Walmart is scheduled to release its fiscal Q1 earnings on May 21.BofA maintained its buy rating on the company's stock with a price target of $150.Price: $131.84, Change: $-0.62, Percent Change: -0.47%
Consumer stocks were mixed pre-bell Friday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 1.3% lower.Magnum Ice Cream (MICC) shares were up more than 12% after Reuters reported that Blackstone (BX) and Clayton, Dubilier & Rice are in the early stages of considering bids for the company.H World Group (HTHT) stock was down 0.9% even after the company posted higher Q1 adjusted earnings and revenue.Walmart (WMT) has asked Flipkart to delay its initial public offering plans to focus on achieving EBITDA breakeven before the end of fiscal 2027, Moneycontrol reported, citing unnamed sources having knowledge of the matter. Walmart shares were 0.6% higher premarket.
Walmart (WMT) is expected to report a strong Q1, with US sales, profit growth, international strength, online gains, pricing power and newer revenue streams supporting further upside, UBS said in a note Wednesday.UBS said Walmart US comparable sales are expected to rise about 4.5%, helped by more than 25% growth in online sales, though weaker pharmacy trends may weigh on store sales, while Walmart US and international operating income could come in at least near the high end of the company's 6% to 8% growth range.The investment firm expects Sam's Club earnings to be roughly flat from a year earlier because the business faces a tougher comparison, though Walmart may raise its full-year earnings outlook if Q1 earnings come in ahead of expectations, though higher fuel costs remain a risk.Higher gas prices could pressure costs, but Walmart may still gain market share as shoppers look for lower prices, according to the note.UBS kept its buy rating and $147 price target for Walmart.Price: $132.03, Change: $+0.56, Percent Change: +0.43%
Consumer stocks were higher late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 0.5%.In corporate news, Ford Motor (F) shares jumped past 14% after Morgan Stanley said the company had a "fairly high likelihood" of signing energy-storage solutions supply agreements with large commercial customers, including hyperscalers, in the next few months.Stellantis (STLA) shares gained 2.6% after Bloomberg reported Wednesday that the company and other carmakers are in talks with BYD over potential agreements involving underused manufacturing plants in Europe.Walmart (WMT) will fire or relocate about 1,000 corporate workers, The Wall Street Journal reported, citing people familiar with the matter and a memo sent to staff it viewed. Walmart shares were up 0.8%.Vivid Seats (SEAT) could benefit from World Cup ticket sales in June, BofA Securities said in a note. BofA raised the company's price target to $8.70 from $7.25 and kept its neutral rating. Vivid shares jumped past 7%.
Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 0.5%.In corporate news, Stellantis (STLA) shares added 2.3% after Bloomberg reported Wednesday that the company and other carmakers are in talks with BYD over potential agreements involving underused manufacturing plants in Europe.Walmart (WMT) will fire or relocate about 1,000 corporate workers, The Wall Street Journal reported, citing people familiar with the matter and a memo sent to staff it viewed. Walmart shares were up 0.4%.Vivid Seats (SEAT) could benefit from World Cup ticket sales in June, BofA Securities said in a note. BofA raised the company's price target to $8.70 from $7.25 and kept its neutral rating. Vivid shares jumped past 7%.
The Dow Jones Industrial Average was down, while the Nasdaq Composite and the S&P 500 Index were up in late-morning trading Wednesday after another hotter-than-expected inflation report and as President Donald Trump prepares for his summit with Chinese President Xi Jinping.The US Producer Price Index rose by 1.4% in April, well above the 0.5% gain expected in a survey compiled by Bloomberg as of 7:35 a.m. ET and up from a 0.7% gain in March. Excluding food and energy prices, core PPI rose by 1.0%, well above the 0.3% gain expected and up from the 0.2% gain in March. Year over year, the PPI rose 6.0% in April, while core PPI rose by 5.2%, both well above their respective March rates and the strongest readings since December 2022.Alibaba Group (BABA) reported fiscal Q4 adjusted earnings Wednesday of 0.62 Chinese renminbi ($0.09) per diluted American depositary share, down from 12.52 renminbi a year earlier and below the FactSet consensus estimate of 6.14 renminbi. Fiscal Q4 revenue was 243.38 billion renminbi, up from 236.45 billion renminbi a year earlier but below the FactSet consensus of 246.97 billion renminbi. Alibaba shares were up 7.9% around midday.Nvidia (NVDA) Chief Executive Jensen Huang joined President Trump on his visit to Beijing, a last-minute addition that has raised expectations of progress in stalled talks over Nvidia's H200 AI chip sales to China, Reuters reported Wednesday. Nvidia shares were up 2.5%.Nebius Group (NBIS) reported Q1 earnings Wednesday of $2.11 per diluted share, swinging from a loss of $0.48 a year earlier and above the FactSet consensus for a loss of $0.83. First-quarter revenue was $399 million, up from $50.9 million a year ago and above the FactSet consensus of $375.1 million. Nebius shares were up more than 15%.Wix.com (WIX) reported Q1 adjusted earnings Wednesday of $0.68 per diluted share, down from $1.55 a year earlier and below the FactSet consensus of $1.24. First-quarter revenue was $541.2 million, up from $473.7 million a year ago but below the FactSet consensus of $544 million. For Q2 and full-year 2026, the company said it expects revenue to grow at a mid-teen percentage. Wix shares were down 30.2%.JPMorgan Chase (JPM) has appointed global head of investment banking coverage Dorothee Blessing, global head of capital markets Kevin Foley and financial institutions group co-head Jared Kaye as co-heads of global investment banking, according to media reports. JPMorgan shares were down 1.2%.Walmart (WMT) will fire or relocate about 1,000 corporate workers, The Wall street Journal reported late Tuesday, citing people familiar with the matter and a memo sent to staff it viewed. Walmart shares were flat.Price: $145.45, Change: $+10.67, Percent Change: +7.92%
Target (TGT) is expected to post strong fiscal first-quarter comparable sales growth, indicating a "cleaner" setup into the year for the retailer, UBS Securities said in a note e-mailed Tuesday.The market is anticipating Target's first-quarter comparable sales growth of 4% to 5%, ahead of the company's projections and the consensus view for an increase of about 1%, according to the brokerage. The company's comparable sales in the quarter grew 3.9%, UBS said in a note to clients, citing Bloomberg Second Measure data."Despite a tumultuous last few years, (Target's) recovery in 2026 is off to a promising start," UBS analysts, including Michael Lasser, said. "Many of last year's headwinds are now rolling off, including the impact from boycotts, one-time tariff costs, and elevated markdown activity.""As a result, the setup into 2026 is cleaner," the analysts wrote.Target is scheduled to report results May 20.The company is also reaping gains from its transformation initiatives that include streamlining operations and improving merchandising relevance, according to UBS.Based on recent traffic trends, Target may be outperforming both Walmart (WMT) and Costco Wholesale (COST) on a year-over-year basis, though against "much easier" comparisons, the analysts said."In essence, we think the company will report $0.30 to $0.40 of (earnings-per-share) upside in (the first quarter)," the analysts wrote. Target is expected to pass this through to its full-year bottom-line outlook, bringing the updated range to $7.85 to $8.85 from $7.50 to $8.50, according to the note.While the company's turnaround plan seemed to have impressed investors, as its shares have advanced more that 20% so far this year, UBS still sees "significant more potential" for the stock.The brokerage outlined what it called "three elements of the upside case.""First, there is potential for comp outperformance that is not fully reflected in expectations," the analysts said. "Second, if that outperformance materializes, it should translate into better flow-through on margins. And third, we think there's room for the multiple to run higher."Price: $121.50, Change: $+3.06, Percent Change: +2.58%
Walmart's (WMT) second P&L has driven a significant upward revaluation of its share price, though UBS Securities said in a note Monday that the market still does not fully reflect the long-term earnings potential or duration of growth from these businesses.The market is debating the second P&L because it has not fully incorporated either the magnitude of its contribution or how long Walmart can sustain its current growth rate.Amazon (AMZN) provides a close comparison and serves as a benchmark for Walmart's second P&L. UBS said Amazon's scaling of its 3P marketplace suggests Walmart can sustain the second P&L's current growth rate for an extended period.UBS forecasts that Walmart's total enterprise-wide earnings before interest and taxes will reach about $53.7 billion by 2030, compared with $29.5 billion in 2025. The firm expects the second P&L to contribute $30.2 billion to EBIT by 2030, versus $8.5 billion in 2025.Through 2030, the second P&L is expected to drive 75% of Walmart's EPS growth, contributing nearly $2.80 to the forecasted 2030 EPS of $5.40, according to the note.UBS has a buy rating on Walmart, with a price target of $147.Price: $130.37, Change: $-1.23, Percent Change: -0.93%
Consumer stocks were lower late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.In corporate news, Wingstop (WING) reduced its 2026 domestic same-store sales outlook and reported weaker-than-expected Q1 revenue. Its shares fell 3.6%.Starbucks' (SBUX) fiscal Q2 financial results exceeded Wall Street's views, while the coffee giant raised its full-year outlook on the back of momentum in its turnaround efforts. Its shares jumped past 8%.Etsy's (ETSY) Q1 revenue rose more than Wall Street's expectations, helping the online marketplace swing to earnings. Etsy shares climbed more than 9%.Walmart (WMT) has opened its third owned-and-operated milk processing facility in the US, located in Robinson, Texas, and representing an investment of more than $350 million, the company said Wednesday. Its shares were up 0.1%.
Consumer stocks were lower late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining 0.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) down 0.3%.In corporate news, Walmart (WMT) has opened its third owned-and-operated milk processing facility in the US, located in Robinson, Texas, and representing an investment of more than $350 million, the company said Wednesday. Its shares were fractionally higher.
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