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Walmart

Walmart

$WMT
NYSEConsumer Staples

161 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.

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Stocks Mostly Up Pre-Bell as Traders Await Fed Meeting Minutes, Retail Earnings
US Markets

Stocks Mostly Up Pre-Bell as Traders Await Fed Meeting Minutes, Retail Earnings

The benchmark US stock measures were mostly pointing higher before the opening bell Monday as traders await minutes of the Federal Reserve's last policy meeting and the latest quarterly results from some of the biggest retail companies.The S&P 500 rose 0.2% and the Nasdaq added 0.6% in premarket activity, while the Dow Jones Industrial Average edged down 0.1%. All three major indexes finished Friday trading in the red.The Fed is scheduled to post minutes of its July policy meeting Wednesday, which will be assessed for fresh insight on the central bank's monetary policy. At the meeting, policymakers left interest rates unchanged in a divided decision, with three regional presidents calling for policy tightening.Last week, the Bureau of Labor Statistics published benign consumer inflation data for July that lowered bets for a Fed interest-rate hike next month. Government data also showed that producer prices held steady last month, defying expectations for a monthly rise.Markets are currently pricing in a 69% probability that the Fed will keep its benchmark rate steady next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool.Treasury yields were down in premarket action, with the two-year rate retreating 1.3 basis points to 4.16% and the 10-year rate off 0.8 basis points to 4.69%.Retail giant Walmart (WMT) is scheduled to release its latest financial results later this week, along with Home Depot (HD), TJX (TJX), Lowe's (LOW), Target (TGT), Ross Stores (ROST) and BJ's Wholesale Club (BJ).On Friday, official data showed that retail sales unexpectedly decreased in July, registering the largest monthly drop in more than a year.West Texas Intermediate crude oil increased 0.8% to $83.08 a barrel before the open, while Brent gained 1.2% to $89.61.Iranian Foreign Minister Abbas Araghchi reportedly said over the weekend that Iran hasn't decided to resume talks with the US, according to CNBC. Shipping traffic through the Strait of Hormuz slowed over the weekend, with five vessels transiting the crucial waterway on Saturday and none on Sunday, Reuters reported Monday, citing shiptracking data from Kpler.Monday's economic calendar has the Empire State manufacturing index for August at 8:30 am ET, followed by the housing market index for the same month at 10 am.Shares of Broadcom (AVGO) rebounded 1.2% pre-bell after closing Friday trading with a 5.9% drop. Micron Technology (MU) advanced 3.4%, while Advanced Micro Devices (AMD) ticked up 1%. Sandisk (SNDK) inclined 5.1%.Gold nudged 0.3% higher to $4,452 per troy ounce, while bitcoin traded up 0.2% at $63,239.

Dow JonesNasdaq CompositeS&P 500$AMD$AVGO$BJ$HD$LOW$MU$ROST$SNDK$TGT$TJX$WMT
Asia Markets

US Equity Investors to Focus on Fed Policy Minutes, PMIs Alongside Trump's Move to Inflict Intense Economic Pain on Iran

US equity investors are expected to focus on macroeconomic data this week following recent soft prints that reduced the urgency for monetary policy tightening, while keeping an eye on any announcements that significantly ratchet up economic pain in Iran and quarterly earnings.* Economic data due this week includes the July minutes of the Federal Open Market Committee meeting, S&P Global manufacturing and services purchasing managers' indexes, industrial production, building permits and housing starts. Last week, both headline and core consumer and wholesale price inflation rates for July declined from a year ago, and retail sales slid unexpectedly in the month, the most since May 2025.* Watch for a potentially major escalation of trade and market tensions beginning this week, according to a note from Scotiabank late Friday. That's because US Treasury Secretary Bessent pledged to introduce "measures like have never been seen in the history of economic isolation of a country," referring to Iran.* Home Depot (HD), Analog Devices (ADI), TJX Companies (TJX), Lowe's Companies (LOW), Target (TGT), Walmart (WMT), Deere (DE), Ross Stores (ROST), NetEase (NTES) are among the companies reporting quarterly results next week.* The 60-day deadline for the conclusion of peace talks in the memorandum of understanding the US and Iran signed in June ended on Monday without any formal announcements so far to end the war.* Talks between Iran and Oman regarding the Strait of Hormuz are complex but continuing "in all seriousness," CNN reported, citing Iran's Foreign Ministry spokesman Esmaeil Baghaei on Monday.* Baghaei said a "transit route map" has been agreed upon, but a final agreement including a joint statement has not been finalized, CNN cited reporting from Tasnim. Referring to one of the reasons for the delay, Baghaei said some "malevolent parties" want the region to "always be in a state of conflict and chaos."

Dow JonesNasdaq CompositeS&P 500$ADI$DE$HD$LOW$NTES$ROST$TGT$TJX$WMT
Wire

S&P 500 Ekes Out Weekly Gain Amid Growing Probability of Fed Pause Extension

The Standard & Poor's 500 index rose 0.4% this week after cooling inflation and an unexpected drop in retail sales boosted the odds for a sixth straight monetary policy pause in September.The market benchmark ended the week at 7,785.76. The index is now up 3.8% quarter-to-date and 14% this year.The probability of the Federal Reserve extending its policy pause next month jumped after July's consumer and wholesale price inflation rates, both headline and core, declined and retail sales for the month unexpectedly slumped the most since May 2025. There's now a 67% chance that the Fed will leave interest rates unchanged, up from 56% a week ago, according to the CME FedWatch tool.Treasury Secretary Scott Bessent said on CNN that the US plans to announce measures on Iran next week that have "never been seen."Defense Secretary Pete Hegseth said the US can sustain its blockade against Iran "indefinitely," Al Jazeera reported.The energy sector in the S&P 500 had the largest percentage gain of the week, up 7.3%, followed by a 1.5% advance in utilities and 1% increases for both consumer staples and health care. Financials, industrials, real estate and tech also rose week to week.Phillips 66 (PSX) is expected to accelerate share repurchases in H2 this year, supported by ongoing balance sheet deleveraging, UBS said in a note. Separately, Phillips 66, Kinder Morgan (KMI), and HF Sinclair (DINO) said they have reached a final investment decision to move forward with a joint venture to build the $5 billion Western Gateway Pipeline system. Shares of Phillips 66 surged 15% this week.Three S&P 500 sectors that declined this week were consumer discretionary, communication services and materials, down 2%, 1% and 0.9%, respectively.Tapestry (TPR) shares tumbled 21% this week after the company set out a fiscal 2027 revenue outlook below the midpoint of Wall Street's forecast range, taking the shine off stronger-than-expected fiscal Q4 adjusted earnings and revenue.AppLovin's (APP) 30% long-term annual revenue growth target lacks sufficient evidence, with uncertainty rising around the sustainability of its self-learning growth, BofA Securities said in a report. BofA downgraded its rating on AppLovin stock to neutral from buy and lowered its price target to $400 from $430. Shares of Applovin slumped 9% this week.Home Depot (HD), Analog Devices (ADI), TJX Companies (TJX), Lowe's Companies (LOW), Target (TGT), Walmart (WMT), Deere (DE), Ross Stores (ROST), NetEase (NTES) are among the companies reporting quarterly results next week.Economic data due next week includes the July minutes of the Federal Open Market Committee meeting, S&P Global manufacturing and services purchasing managers' indexes, industrial production, building permits and housing starts.

S&P 500$ADI$APP$DE$DINO$HD$KMI$LOW$NTES$PSX$ROST$TGT$TJX$TPR$WMT
Walmart Seen Missing Comparable Sales Estimates, Target Set to Beat, Deutsche Bank Says
US Markets

Walmart Seen Missing Comparable Sales Estimates, Target Set to Beat, Deutsche Bank Says

Walmart (WMT) is expected to miss second-quarter comparable sales estimates as high gas prices pressure low-income households, while Target (TGT) is seen delivering a beat amid demand strength, Deutsche Bank said in a client note emailed Friday.Walmart is scheduled to release its results on Aug. 20, while Target reports Aug. 19.The brokerage expects Walmart to report US comparable store sales growth of 3% to 3.5%, trailing Wall Street's 3.7% consensus."Heading into (second quarter) results, expectations are not elevated for the first time in a while, and we see an arguably more balanced set-up than two months ago," Deutsche Bank analyst Krisztina Katai said.Higher gas prices are impacting lower-income households, while pharmacy-related headwinds have intensified, Katai said. "Pharmacy headwinds will continue through the (second half), and incremental sales upside may be difficult to generate in a cautious and potentially more promotional consumer backdrop," Katai added.Walmart's underlying business, however, remains healthy amid signs that grocery-led share gains have accelerated, according to the brokerage.For Target, Deutsche Bank raised its second-quarter same-store sales view, now expecting 2.9% growth, compared with the Street's 2.3%. It boosted Target's earnings estimate to $2.51 per share, above consensus of $2.29, citing "broad-based demand strength."The retailer's "turnaround progress is reflected in the stock," which has rallied nearly 59% this year, Katai said."We remain sidelined until there is greater evidence that recent (same-store sales) momentum reflects sustainable market share gains and improved competitive positioning, rather than cycling easier comparisons," Katai wrote.Deutsche Bank has hold ratings on both retailers, with a $120 price target on Walmart's stock and a $140 view on Target.Earlier this week, RBC Capital Markets predicted Walmart will miss second-quarter consensus expectations for comparable sales and Target will deliver a beat.Price: $114.91, Change: $-0.81, Percent Change: -0.70%

$TGT$WMT
Walmart Among Big-Box Retailers That May Miss Comparable Sales Expectations, RBC Says
US Markets

Walmart Among Big-Box Retailers That May Miss Comparable Sales Expectations, RBC Says

Major US retailers such as Walmart (WMT) will likely miss consensus expectations for second-quarter comparable sales, though Target (TGT) is seen delivering a beat, RBC Capital Markets said in a Wednesday note.Home Depot (HD) is scheduled to release its results Aug. 18, followed by Target and Lowe's (LOW) on Aug. 19. Walmart reports Aug. 20.For the second quarter, RBC raised Home Depot's same-store sales growth expectations to 0.7% from 0.2%, lower than Wall Street's 1% consensus. RBC cut estimates for Lowe's to show a flat performance, compared with a 0.5% rise previously penciled in. Analysts expect a 0.7% increase at Lowe's.RBC left its estimates for Walmart's US operations unchanged, having trimmed projections in July to 3.5% from 4%, versus the 3.8% market view.Target's comparable sales growth outlook moved higher to 3% from 2%, exceeding the consensus estimate of 2.2%.RBC raised Home Depot's price target to $343 from $340, citing stable housing trends, market share gains and easy compares in the second half. "We remain sector perform as we continue to struggle with the catalyst for improved housing turnover, which is likely to keep (earnings per share) growth muted," RBC analyst Steven Shemesh said.Home Depot said Wednesday that Chief Executive Ted Decker is taking a temporary medical leave of absence. Ann-Marie Campbell, senior executive vice president, will oversee the home improvement retailer's day-to-day operations, while Chief Financial Officer Richard McPhail will provide oversight of the company's financial management and Pro subsidiaries.RBC pointed to softness in the do-it-yourself segment at Lowe's, whose price target slipped to $231 from $232. "We'd argue that the low-end of (2026) guidance now feels more likely," Shemesh said.The brokerage kept Walmart's price target unchanged at $137.RBC increased Target's price target to $166 from $153, saying its full-year adjusted EPS guide could be raised to around $8.20 to $8.80, versus market expectations of $8.48."While we're encouraged by the progress being made at (Target), we think a beat/raise is already embedded in shares and as such would argue the bar for outperformance on the print is very high," Shemesh said. "We believe reinvestment and advertising momentum should drive modestly better comp in (the second half)."Price: $153.60, Change: $+2.47, Percent Change: +1.63%

$HD$LOW$TGT$WMT
Trade Desk's Downbeat Guidance Indicates Macro, Structural Issues, Wedbush Says
US Markets

Trade Desk's Downbeat Guidance Indicates Macro, Structural Issues, Wedbush Says

Trade Desk's (TTD) downbeat third-quarter outlook following a second-quarter miss indicates macro and structural issues amid growing competition, Wedbush Securities said Friday.Late Thursday, the ad-buying software maker said it expected revenue of at least $650 million and adjusted earnings before interest, taxes, depreciation and amortization of about $160 million for the ongoing quarter. The current consensus on FactSet is for $711.2 million and $246.1 million, respectively.The company posted second-quarter adjusted earnings of $0.34 a share on revenue of $715.1 million, both falling short of Wall Street's estimates."Combined with mounting competitive threats and macro pressures within its largest segments, (Trade Desk) could not meet its (second-quarter) guidance," Wedbush analysts, including Alicia Reese, said in a note to clients Friday. "(Third-quarter) guidance is substantially more concerning, adding fuel to the bear thesis that the company faces immense structural headwinds."Trade Desk Chief Executive Jeff Green blamed the company's underperformance in the second quarter relative to its own expectations to two main reasons."First, the macro conditions have made it more difficult for some of the world's largest brands to grow," Green said on an earnings call Thursday, according to a FactSet transcript. "Secondly, we didn't execute as well as we could have."Wedbush reduced its price target on the company's shares to $15 from $21 and maintained its neutral rating.Apart from macro pressures that are reducing advertiser spend, Trade Desk is seeing "fierce" competition, particularly in the consumer packaged goods segment, according to the note."(Trade Desk) was built for open-internet scale and cross-publisher orchestration, while the market is increasingly gravitating toward closed-loop, vertically integrated performance ecosystems like Amazon's (AMZN)," the Wedbush analysts said. E-commerce giant Amazon continues to gain ground as "a core (connected television) performance partner, undermining (Trade Desk's) argument that advertisers do not want to exist within walled gardens."The company's reliance on third-party data partnerships with Walmart (WMT), DirecTV and Roku (ROKU) creates fragmentation and less deterministic measurement, compared with integrated platforms that own media, device and consumer data. Trade Desk's new measurement framework, which is in alpha testing phase, could provide it some competitive relief after it's launched, according to the note."As more (demand-side platforms) split the CTV growth, (Trade Desk) may increasingly rely on (total addressable market) expansion opportunities, such as chatbot inventory and sponsored shopping listings, where the company lacks a structural advantage," Wedbush said. "(Trade Desk) still offers meaningful advantages in frequency control, de-duplicated reach, multi-publisher planning, and optionality across CTV, display, audio, and out-of-home."Price: $13.83, Change: $-3.85, Percent Change: -21.76%

$AMZN$ROKU$TTD$WMT
Walmart Outperformance Case in Short Term Seen Less Compelling, Oppenheimer Says in Downgrade
US Markets

Walmart Outperformance Case in Short Term Seen Less Compelling, Oppenheimer Says in Downgrade

Walmart (WMT) is less likely for an outperformance in the short term due to pharmacy-related headwinds in its US business and other factors, Oppenheimer said Tuesday.The brokerage now expects the retail giant to log US comparable sales growth excluding fuel of 3% in its fiscal second quarter, up from its prior forecast for a 2.9% rise. Wall Street is looking for a 3.8% increase, according to Oppenheimer.Top-line pharmacy headwinds in the US business could lead to a shortfall versus the market's projections in the second quarter and later in the year mainly due to the Inflation Reduction Act, Oppenheimer analysts, including Rupesh Parikh, said in a note to clients."Although investors in our conversations lately expect a potential Walmart US comp shortfall (versus) Street forecasts, we still believe shares could move lower on the print given a still peakish valuation and the potential for pharmacy headwinds to persist at least through (the fourth quarter)," the analysts said.The brokerage downgraded its rating on the company's stock to perform from outperform and removed its $140 price target.Walmart shares were down 0.5% in afternoon trade, bringing its year-to-date losses to 1.2%.Pharmacy dynamics remain fluid and could represent both upside and downside to comparable sales forecasts, although Oppenheimer doesn't expect slower pharmacy growth related to the IRA to negatively impact Walmart's earnings, according to the note.There is less upside potential for the company to beat Street forecasts that are "well ahead" of long-term guidance. Walmart's valuation also remains at "peakish" levels across all metrics, making it susceptible to a lower re-rating if US comparable sales growth decelerates from a 4% increase to the 2.5%- to-3.5% range, the brokerage said.Oppenheimer continues to have a favorable view on the retail giant's long-term prospects and management team. "We believe the company's longer-term algorithm is still realistic and remain confident in management's efforts under President and CEO John Furner to drive share gains over time," the analysts said.Walmart is scheduled to release second-quarter financial results Aug. 20.Price: $110.09, Change: $-0.62, Percent Change: -0.56%

$WMT
Wire

Walmart's Q2 Growth Could Slow Down due to Function of mix, Comparisons, UBS Says

Walmart's (WMT) Q2 growth could slow down, but it would be mostly due to a function of mix and comparisons rather than any weakening in execution and competitive positioning, UBS said in a research report emailed Tuesday.The company has a "rare ability" to drive earnings at a double-digit rate for a prolonged time, driven by market share gains, productivity initiatives, and the scaling of higher-margin profit streams, according to the note. The company is due to report Q2 results on Aug. 20.Walmart is heading into an attractive phase as the benefits from automation and supply chain modernization are driving incremental profit dollars, which can be allocated simultaneously toward shareholder returns and reinvestment, analysts wrote.Despite pressure on Q2 comp, Walmart's core growth engine is intact as it leverages delivery capabilities to increase grocery share, enhances assortment to attract higher-income shoppers, and expands its third-party marketplace for growth in general merchandise, UBS stated.The brokerage maintained its buy rating on the stock and price target of $141 per share.Price: $110.13, Change: $-0.58, Percent Change: -0.52%

$WMT
Research

Oppenheimer Downgrades Walmart to Market Perform From Outperform

Walmart (WMT) has an average rating of overweight and mean price target of $139.84, according to analysts polled by FactSet.

$WMT
Wire

Update: Walmart, Amazon Let Questionable 'Made in USA' Claims Persist, Report Says

(Updates with Amazon comment in the fifth paragraph.)Walmart (WMT) and Amazon.com (AMZN) are allowing deceptive "Made in USA" claims to remain on their shopping platforms, according to a Columbia Law School report.The 46-page report said both companies' AI shopping chatbots can detect mismatches between "Made in USA" labels and product details and can research whether origin claims are credible.Despite these capabilities, the report said the companies do not consistently use them to flag or remove misleading claims."The concern is not only that a shopper can't trust a 'Made in USA' label but also that a shopper has no way to know whether they are seeing the platform's best answer or its most profitable one," the report said."The suggestion that we intentionally withhold country-of-origin information from customers is incorrect," and Amazon is working to improve Alexa for Shopping's ability to provide customers with this information more easily, the company said in an emailed statement to.Walmart didn't reply to a request for comment.Price: $111.55, Change: $+0.45, Percent Change: +0.41%

$AMZN$WMT
Wire

Freshpet Poised to Deliver on Q2, Full-Year Financial Targets, Oppenheimer Says

Freshpet (FRPT) is well-positioned to deliver on Q2 expectations and full-year 2026 financial targets but is expected to reiterate its full-year outlook in the current challenging macro environment, Oppenheimer said in a Tuesday note.The company is slated to report its Q2 financial results on Aug. 5.Freshpet has been optimistic regarding its business performance through early June and remains confident in its competitive moat even with the entry of new competitors, Oppenheimer analysts said.Given the uncertain pet and consumer spending environment, as well as rising gas prices, the analysts believe that the company is likely to retain its full-year 2026 targets. Freshpet could also accelerate discretionary investments and boost advertising spending if the company outperforms the current expectations for the rest of the year, according to the note.With the company's products dominating Costco's (COST) refrigerated pet food sections, and more fridge islands seen at Walmart (WMT), Freshpet remains a "top pick" for Oppenheimer, the analysts said.Oppenheimer's rating on the company's stock is outperform with a price target of $80.Price: $61.74, Change: $+2.24, Percent Change: +3.76%

$COST$FRPT$WMT
Wire

Walmart Seen Delivering Softer Q2 as Lower-income Shoppers Remain Pressured, RBC Says

Walmart (WMT) is expected to see a softer fiscal Q2 as lower-income consumers remain pressured, though easing grocery inflation could support growth ahead, RBC Capital Markets said in a note Wednesday.Analysts said they met with the company's investor relations team, which said the overall consumer environment remains unchanged, with lower-income shoppers continuing to face financial pressure. Despite this, the discussions reinforced confidence in Walmart's strong long-term competitive position, analysts said.The investment firm expects fiscal Q2 to be the "low-water mark for the year," although the company's IR team said recent softer sales trends were largely in line with guidance, which called for 4% to 5% fiscal Q2 constant-currency net sales growth, following 5.9% growth in fiscal Q1.The guidance reflected "the Q1 benefit from tax refunds, the impact of rising gas prices, and a difficult general merchandise inflation compare related to tariff timing," according to the note.The firm now expects Walmart US fiscal Q2 comparable sales growth at 3.5%, down from 4% previously and below consensus of 3.8%. Adjusted earnings per share estimate for Q2 is unchanged at $0.75, slightly above consensus of $0.74. For fiscal 2027 and 2028, adjusted EPS is forecast at $2.91 and $3.26, respectively, down from $2.92 and $3.27 previously.RBC Capital Markets has an outperform rating and $137 price target on Walmart.Price: $109.14, Change: $-1.25, Percent Change: -1.13%

$WMT
Sectors

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were falling late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) shedding 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) dropping 1.6%.In corporate news, Netflix's (NFLX) Q2 revenue fell short of Wall Street's estimates, while the streaming giant said it will no longer publish its engagement report semi-annually. Its shares fell 7.4%.Walmart's (WMT) chief operating officer for its US operations, Kieran Shanahan, is leaving the role, with COO for Walmart International, Kyle Kinnard, taking over effective immediately, Walmart said Friday. Walmart shares were down 0.4%.Autoliv's (ALV) Q2 revenue topped expectations, though earnings fell short amid higher raw material costs. Autoliv shares were down 3.5%.Electronic Arts (EA) is expected to receive European Union approval under the bloc's foreign subsidy rules for its proposed $55 billion acquisition by an investor group led by Saudi Arabia's Public Investment Fund, Reuters reported. Electronic Arts shares added 0.5%.A federal judge in California said Friday she would rule by July 22 on a dozen states' request to at least temporarily block Paramount Skydance's (PSKY) takeover of Warner Bros. Discovery (WBD), Bloomberg reported. Paramount shares were down 4.7%, and Warner shed 1.5%.

$ALV$EA$NFLX$PSKY$WBD$WMT
Wire

Walmart US COO Kieran Shanahan to Step Down, Kyle Kinnard Named as Successor

Walmart's (WMT) chief operating officer for its US operations, Kieran Shanahan, is leaving the role, with COO for Walmart International, Kyle Kinnard, taking over effective immediately, Walmart said Friday.In an internal memo sent to, Walmart said that Shanahan will stay at the company as an adviser until the end of its fiscal year on Jan. 31, 2027.Kinnard has been with the company for more than 25 years and has held leadership roles across various functions, the memo said.Price: $114.41, Change: $-0.54, Percent Change: -0.47%

$WMT
Take-Two 'GTA VI' Pre-Order Data Indicate 'Robust' Demand, B. Riley Says
US Markets

Take-Two 'GTA VI' Pre-Order Data Indicate 'Robust' Demand, B. Riley Says

Take-Two Interactive Software's (TTWO) "Grand Theft Auto VI" pre-order tracking suggests "robust" demand for the highly anticipated video game ahead of its commercial launch in November, B. Riley Securities said Friday.Two-week tracking of digital storefronts and retail websites showed GTA VI was the top-selling item across all monitored platforms last month, when pre-orders started, and among the top-ranked items in early July, according to the brokerage. The tracking covered Sony's (SONY) PlayStation Store, Microsoft's (MSFT) Xbox Live, Amazon.com (AMZN), Walmart (WMT), Best Buy (BBY), and GameStop (GME)."While this analysis was qualitative in nature, we believe findings suggest robust demand for the game," B. Riley Managing Director Drew Crum said in a note to clients. The analysis supports the brokerage's "positive fundamental outlook" for Take-Two's shares, according to Crum.B. Riley maintained its buy rating on the video game publisher's stock with a $300 price target.The company's shares were down 1% in Friday afternoon trade, bringing its year-to-date losses to 4.8%.The Ultimate Edition of the game, which is priced at $99.99, was the most popular version on PlayStation Store and Xbox Live, according to B. Riley."Pre-orders were heavily weighted to PS5 (stock keeping units), which is not surprising given Sony's console system has outsold Xbox Series X/S by more than 3-to-1 (by our estimation) during the current hardware cycle," Crum said. "We forecast GTA VI full game net bookings at $2.5 billion (37M units x $68 ASP), which spans (over four) months."Take-Two could provide updates on pre-order performance for the game with its latest quarterly financial results next month, potentially providing a lift for the company's stock, Crum said.B. Riley expects net bookings of $1.35 billion for the quarter, which it said is below Wall Street's estimate of $1.40 billion. The brokerage's non-GAAP earnings forecast of $0.34 a share exceeds consensus of $0.33, according to the note.Price: $243.89, Change: $-2.21, Percent Change: -0.90%

$AMZN$BBY$GME$MSFT$SONY$TTWO$WMT
Asia Markets

Update: US Equity Futures Fall Pre-Bell as Middle East Hostilities Restart, President Trump Declares US-Iran Ceasefire 'Over'

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures fell pre-bell Wednesday as President Donald Trump declared that the US ceasefire with Iran was "over" amid escalating hostilities in the region once again, sending oil prices soaring.Dow Jones Industrial Average futures were 0.9% lower, S&P 500 futures were down 0.6%, and Nasdaq futures were 0.8% lower.In a post on X, US Central Command said it struck 80 Iranian targets, including air defense systems and radar sites, as a response to Iran's attacks on three commercial ships transiting the Strait of Hormuz. The US also revoked a license that allowed Iran to sell oil around the world.Iran's Islamic Revolutionary Guard Corps said that they had targeted US military sites in Bahrain and Kuwait. The renewed conflict in the region has caused at least four oil and gas tankers to turn back from their attempt to pass by the waterway, according to a Reuters report citing date from Kpler and LSEG.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.5% at $77.45 per barrel and US West Texas Intermediate crude 4.3% higher at $73.46 per barrel.Traders await the minutes of the June 16-17 Federal Reserve policy session, the first under new chair Kevin Warsh, scheduled for release at 2pm ET.In other world markets, Japan's Nikkei closed 2.1% lower, Hong Kong's Hang Seng ended 3% higher, and China's Shanghai Composite finished 0.5% lower. Meanwhile, the UK's FTSE 100 was down 1%, and Germany's DAX index was 1.7% lower in Europe's early afternoon session.In equities, Walmart (WMT) shares rose nearly 1% after the company lowered prices on essentials and groceries, including beef, fresh produce, beverages and other products as part of a summer rollback measure, following an announcement from Trump that the retailer would lower its prices "by a lot" at his administration's request to celebrate the country's 250th birthday.The increase in oil prices boosted energy stocks in premarket activity. Exxon Mobil (XOM) shares were 1.3% higher, Chevron (CVX) stock was up 1.5%, and ConocoPhillips (COP) shares climbed 1.5%.On the losing side, airline stocks dropped on concerns over fuel costs and demand. Delta Air Lines (DAL) shares fell 2.3%, United Airlines (UAL) stock was down 2.9%, and Southwest Airlines (LUV) shares declined 2.2%.

Dow JonesNasdaq CompositeS&P 500$COP$CVX$DAL$LUV$UAL$WMT$XOM
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.8%.Redbook US same-store sales rose by 11.5% from a year earlier in the week ended July 4 after a 10.5% year-over-year increase in the previous week. "Significant nationwide temperature increases, combined with Independence Day promotions, led to increased demand for summer merchandise and brought more shoppers into air-conditioned stores," Redbook noted.In corporate news, Netflix (NFLX) has entered multiple deals with digital publishers, including The Hollywood Reporter, BuzzFeed, Conde Nast, and other Penske Media's PMX brands to bring content from these publishers to the US and other regions like the UK, Ireland, Canada, and New Zealand, media outlets reported. Netflix shares increased 0.4%.Rivian Automotive (RIVN) shares fell past 17% after the electric vehicle maker launched a stock offering, even as it issued a Q2 revenue estimate that exceeded market expectations.Walmart (WMT) and Sam's Club lowered prices on "thousands" of essentials and groceries as part of a summer rollback effort, Walmart said late Monday. Walmart shares rose 0.8%.O'Reilly Automotive's (ORLY) potential acquisition of Genuine Parts' (GPC) NAPA business could deliver upside, but the benefits could be outweighed by challenges, including how different the international and independent businesses are from O'Reilly's core operations, Truist Securities said Tuesday. Truist maintained a buy rating on O'Reilly with a $108 price target. O'Reilly shares added 2.7%.

$NFLX$ORLY$RIVN$WMT
Grocer Discounts Amid High Food Prices Raise Margin Concerns Ahead of Fourth of July
US Markets

Grocer Discounts Amid High Food Prices Raise Margin Concerns Ahead of Fourth of July

Grocers are offering discounts ahead of the Fourth of July holiday as they battle for consumer dollars amid rising food prices that some experts say may affect profit margins.The overall cost of food rose 3.1% in the 12 months through May, the US Bureau of Labor Statistics said on June 10. Food-at-home prices were up 2.7%, and food away-from-home increased by 3.5% from the same month last year.An Independence Day cookout for 10 people will cost $73.82 for a basket of 10 items including cheeseburgers, chicken breasts, potato salad and ice cream, up 4% year over year, according to the American Farm Bureau Federation, an advocacy group for farmers in the US.Food prices have surged as consumers faced higher energy prices, the impact of tariffs and drought conditions in growing areas globally. That's left grocers such as Kroger (KR), Albertsons (ACI) and Sprouts Farmers Market (SFM) to compete for budget-strapped customers by offering lower prices.Investors are taking a wait-and-see approach on whether cutting food bills will affect retailers' bottom lines at a time when demographics are changing and appetites are already reduced from the rising use of GLP-1 weight-loss medications, said Scott Mushkin, chief executive of R5 Capital, a consumer consulting and research firm. Grocers so far haven't mentioned lower margins due to discounted prices but it's "100%" something about which the market is concerned, he said."When there's declining volumes, the only way to get market share or get your volumes flat to positive is to win share from somebody else," Mushkin said in an interview with. "You're seeing more and more companies talk about investing in prices, which means just lowering prices."Kroger, the largest traditional US grocery store with a market capitalization of roughly $34 billion, said Friday it would offer specials on several items including soft drinks, dips and dinner sausages, ahead of the Fourth of July.The effects of the company's self-funded price investments -- when a grocer lowers a price to increase volume and stay competitive with rivals -- remain to be seen, Morgan Stanley said in a note to clients. Still, they lowered their 12-month price target on the company to $67 from $73.Kroger Chief Financial Officer David Kennerley said on the company's June 18 earnings call that food inflation in the first quarter came in at the low end of the retailer's expectations. But he still expected inflationary pressures to increase in 2026 amid the broader macro environment.Oppenheimer analysts said in a report last week that Kroger is implementing pricing efforts in some test markets and has seen positive results including gaining market share. Kroger's goal, the analysts said, is to capture more of the consumer basket without being the lowest-cost retailer. That, in turn, will reduce risk to margins."Management is testing these efforts in more stores," Oppenheimer said. "The company does not seem to be aiming to be the lowest price retailer, which, in our view, should minimize the risk of any price war."Sprouts Farmers Market, with a market value of about $8 billion, and Albertson's, with a $6.6 billion cap, are also offering discounts on meats, vegetables and desserts ahead of the Independence Day weekend.Despite rising food costs, spending on food for the Fourth of July is expected to increase this year.About 62% of Americans plan to celebrate with a barbecue or picnic and will spend $9.4 billion on food, up from $8.9 billion in 2025 and on par with 2024 levels, according to a survey of 7,675 consumers by the National Retail Federation. This is historically high with spending ranging from $6.3 billion to $7.7 billion between 2014 and 2022.Ricky Volpe, an economist in the College of Agriculture, Food & Environmental Sciences at Cal Poly San Luis Obispo, said he expects grocers' margins to decline amid discounts ahead of and after Saturday's holiday, but volume to increase as prices decline.That'll increase opportunities for grocers to capitalize on bigger basket sizes, said Volpe, who previously researched food-price formation, competitiveness in the food industry and forecasted retail food price inflation at the USDA's Economic Research Service.Rising inflation may lead some consumers to discount retailers that sell food at a lower average price. Big box stores such as Walmart (WMT) and Costco Wholesale (COST) will likely see strong growth over the next six to 12 months, Volpe said."We historically see their revenues, market share and even overall profitability increase during challenging inflationary times like this," he said. "They're always taking market share away from the traditional."Discounts will likely continue beyond the Fourth of July, though retailers may offer lower prices on their own products rather than larger brands, Volpe said."We will probably, looking into the back half of the year, see intensified promotional activity for store brands and private labels relative to national brands because retailers typically have more control over their own brand prices and operate on higher average markups or margins for their own brand prices."Marcy Nicholson

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Sectors

Sector Update: Consumer Stocks Rise Late Afternoon

Consumer stocks were higher late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.8%.In corporate news, Roku (ROKU) and Florida Attorney General James Uthmeier said Friday the company agreed to enhance its safety controls by offering parents greater oversight over what their children can stream, resolving a state enforcement action under the Florida Digital Bill of Rights. Roku shares rose 1.3%.DraftKings (DKNG) shares jumped past 8% after the company said Friday it launched its prediction markets exchange DKeX.Lukas Walton, an heir to the Walmart (WMT) fortune, and his wife, Samantha, are buying a minority stake in the National Basketball Association's Chicago Bulls, Bloomberg reported. Walmart shares were up 0.6%.Unilever (UL) is considering a bid for Thorne, a South Carolina-based company that sells dietary supplement pills, valued at up to $4 billion, the Financial Times reported. Unilever shares increased 0.2%.

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Sectors

Sector Update: Consumer

Consumer stocks were higher late Friday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) increasing 0.9% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.8%.In corporate news, Lukas Walton, an heir to the Walmart (WMT) fortune, and his wife, Samantha, are buying a minority stake in the National Basketball Association's Chicago Bulls, Bloomberg reported. Walmart shares were up 0.6%.

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