Wal-Mart Stores, Inc. WMT shares are trading lower by $2.80 at $68.59 in Thursday's session. Despite a Q3 EPS beat of $0.02, the Street is focusing on its revenue shortfall of $0.5 billion against analyst estimates. The company increased the lower end of the range compared to previous full year guidance to $4.20-$4.35 vs. estimates of $4.34.
After a lower open, it had a brief pop but found sellers way ahead of the lower-end of Wednesday's range ($71.33), only reaching $69.52. From that level, it continued its downward descent, so far falling to $68.26. That low comes in above its October 21 low ($67.99) and just below its October 24 low ($67.99).
Interestingly, in his latest 13-F filing, Warren Buffett reduced his stake in the retailer by 27 million shares.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.