Wal-Mart (WMT) Shares Jump On The Opening Of The 1000th Walmart MoneyCenter; Announcement Of Additional 500 Centers

Wal-Mart (NYSE: WMT) today was the pillar of strength for Dow Jones. WMT strode up by about 3% after the company confirmed that it plans to add Walmart MoneyCenters in 500 additional stores this year.

The Walmart MoneyCenter offers solutions on basic money services, such as the Walmart MoneyCard, to its customers. Wal-Mart has opened its 1,000th Walmart MoneyCenter today and, with the planned expansion into 500 more stores, the company will have this service in roughly 40% of the overall 3,763 stores across the nation.

An upgrade for WMT by Citigroup analyst from “hold” to “buy” and the Fed’s decision to keep rates steady also helped bump up the company’s share price today.

Trading Ideas.