Walmart shares tumble on weakest earnings forecast
Walmart posted a 6 to 12 percent drop in expected earnings for 2017, sending its stock down about 10 percent to 60.03 amid a bleak outlook at the investors conference. CFO Charles Holley outlined 3 to 4 percent sales growth, flat current-year earnings, and a long-range EPS decline of 6 to 12 percent before a projected 5 to 10 percent rise by 2019.
MENTIONED IN THIS ARTICLE
Walmart
Bentonville, Ark
Wall Street
Amazon
Charles Holley
Holley
Brian Yar
WalMart vs Amazon Split Deepens as Shares Tumble
Walmart stunned investors with a bleak 2017 outlook the next three years, forecasting 3 to 4 percent revenue growth and up to 12 percent profit decline, while Amazon surged 75.7 percent this year making it worth more than Walmart for the first time. Walmart trades at 3.5 times tangible book value versus Amazon at 31 times, and Walmart plans a $20 billion buyback to counter the downturn.
MENTIONED IN THIS ARTICLE
Walmart
Amazon
Wal-Mart
Perkins
Doug McMillon
McMillon
Economy shows modest growth across Fed regions
The Fed Beige Book reports a six week period of modest overall growth with consumer spending and housing improving while a strong dollar and low oil prices restrain manufacturers. Wage growth remains subdued and price pressures are contained, with labor markets gently tightening yet skilled labor scarce in many areas.
MENTIONED IN THIS ARTICLE
Federal Reserve
Fed
Minneapolis
Dallas
San Francisco
New York
Atlanta
Richmond
Chicago
Kansas City
Philadelphia
U.S
Boston
St. Louis
Also Mentioned on This Page
Moneyline
Volkswagen
North America
Winfried Vahland
Wahland
Netflix
FactSet
Labor Department
DOW Jones Industrial
USA Today
Marketwatch.com
USA
Usatoday
Bankrate.com
Jae Yang
Veronica Bravo
Standard & Poor
Amazon.com
S&p Capital IQ
Edward Jones
Yarbrough
Morningstar
Ken Perkins
Brian Yarbrough
Bloomberg En Pftras
Erik S. Lesser
EPA Walmart
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!