Walmart is in a slump. It reported a drop in Second Quarter profits and missed wall street earnings estimates and said growth for the full year wont be as strong as thought. On the bright side, more shoppers are shopping at walmart here in the u. S. And spending slightly more but costs are rising faster. Today, investors sent shares of the dow component down to a 52week low thinking walmart, the worst performer on the Dow Jones Industrial average for the day. Courtney reagan has more on the company that many consider to be a barometer of the consumer economy. Reporter while walmarts u. S. Comparable sales improved for the fourth straight quarter and sales traffic increased, it wasnt enough to keep the retailer from significantly lowering its full year earnings guidance. There are headwinds that cut into the quarter, many of which walmart expects to continue, including increased employee hours at now higher wages, lower reimbursements from prescription drugs. Walmart explains that shrin
Walmart is in a slump. It reported a drop in Second Quarter profits and missed wall street earnings estimates and said growth for the full year wont be as strong as thought. On the bright side, more shoppers are shopping at walmart here in the u. S. And spending slightly more but costs are rising faster. Today, investors sent shares of the dow component down to a 52week low thinking walmart, the worst performer on the Dow Jones Industrial average for the day. Courtney reagan has more on the company that many consider to be a barometer of the consumer economy. Reporter while walmarts u. S. Comparable sales improved for the fourth straight quarter and sales traffic increased, it wasnt enough to keep the retailer from significantly lowering its fl year earnings guidance. There are headwinds that cut into the quarter, many of which walmart eects to continue, including increased employee hours at now higher wages, lower reimbursements from prescription drugs. Walmart explains that shrink in
Walmart is in a slump. It reported a drop in Second Quarter profits and missed wall street earnings estimates and said growth for the full year wont be as strong as thought. On the bright side, more shoppers are shopping at walmart here in the u. S. And spending slightly more but costs are rising faster. Today, investors sent shares of the dow component down to a 52week low thinking walmart, the worst performer on the Dow Jones Industrial average for the day. Courtney reagan has more on the company that many consider to be a barometer of the consumer economy. Reporter while walmarts u. S. Comparable sales improved for the fourth straight quarter and sales traffic increased, it wasnt enough to keep the retailer from significantly lowering its full year earnings guidance. There are headwinds that cut into the quarter, many of which walmart expects to continue, including increased employee hours at now higher wages, lower reimbursements from prescription drugs. Walmart explains that shrin
Right now. Welcome to power lunch. Im melissa lee. Stocks are trading in a very narrow range ahead of the fed. At the top of the next hour, the dow managing to hit another record intraday high. The nasdaq trying for its 11th gain in 12 sessions. Apple on pace for its Third Straight day of gains. It is up in the past weekment a number of big retailers also on the move walmart hitting another 52week high it is up more than 8 . Target, dollar general, the biggest winners in the s p right now. We begin this hour at the white house. Justin trudeau will arrive shortly for a meeting with President Trump. Trade, the topic eam eamon javers live. Reporter not a lot of the pomp and circumstance that you see with head of state meetings. We are waiting for Justin Trudeau to arrive any time now there has been a lot swirling around the bhit houwhite house s morning. The president woke up to an article in which thomas barrack, the real estate investor, criticized him saying the president is better tha
Get some good numbers from the companies. General electric the former industrial powerhouse, reported a terrible number and the stock cascaded down at first after candied talk with the new ceo it rallied s p climing 1. 5 nasdaq, equal 1. 3 , records. Why does this matter because i feel emboldened when we get a report like we did from General Electric and the other side come out unscaved some of them is because of the the benign back drop from washington when the senator agreed to move forward on tax reform still though, lots of companies with cash overseas that can be repatriated here as a low tax rate as part of this reform, some others take off with that in mind, lets go to our game plan for next week. On monday, we hear from iconic, the engineer portion of the old alcoa. This is a very important time for the stock because the company doesnt have a ceo its time something happened, give us a darn ceo here. Chemberly clark reports to do, an analyst put a sell on this stock this morning