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.
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