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PreMarket Prep Stock Of The Day: Walmart

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PreMarket Prep Stock Of The Day: Walmart

Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session.

On any given day, the show will cover at least 20 stocks determined by co-hosts Joel Elconin and Dennis Dick along with producer Spencer Israel.

For those who don't have the time to tune in live or listen to the podcast, Benzinga will highlight one stock that merits further discussion. This analysis is not a buy or sell recommendation.

Today’s PreMarket Prep Of The Day is Walmart Inc (NYSE: WMT). Since pictures speak louder than words, for the most part, we will let the tweets and video speak for themselves.

Huge Beat: Before the open, the company reported better-than-expected second-quarter EPS and sales results. The company also announced U.S. e-commerce sales grew 97% and U.S. comp sales increased 9.3%.

PreMarket Price Action: Traders were anticipating a beat as the issue was already trading higher by $4 as it was trading at the $138 area seconds ahead of the print. The Street responded by recklessly pushing the issue to $144.69 in less than four minutes. This is a highly unusual move for such a heavily traded issue, especially after its robust $3 gain on Monday ahead of the report.

Making A 'Live' Call On Twitter

Price Action During The Regular Session: After a higher open, Walmart rallied beyond Monday's high ($136.13), reaching $137.63 and reversed course. So far, the ensuing decline has breached Monday's low ($133.85), reaching $133.85 and is attempting to return to $136 handle as of 2:15 p.m. ET.

Coverage On The Show

 

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