NEW YORK, NY / ACCESSWIRE / November 17, 2017 / Shares of Wal-Mart skyrocketed to a record high after smashing estimates in its third-quarter report and issuing favorable guidance for the fourth quarter. Time Warner also saw its shares climb after AT&T announced it has hired a media lawyer who has represented Trump in the past, to defend its acquisition of Time Warner if the government sues to block the deal.

RDI Initiates Coverage on:

Wal-Mart Stores, Inc.
http://www.rdinvesting.com/report/?ticker=WMT

Time Warner Inc.
http://www.rdinvesting.com/report/?ticker=TWX

Wal-Mart Stores, Inc. shares closed up 10.90% on Thursday with almost 38 million shares traded. The company zoomed to a new record high of $99.68 after beating in its third-quarter earnings report and issuing optimistic holiday quarter guidance. Wal-mart reported EPS of $1 on revenue of $123.18 for the third quarter while analysts had been waiting for EPS of 0.97 cents and revenue of $121.05 billion. For the holiday quarter, the retailer has forecast EPS of $1.30 to $1.38 while analysts had been waiting on $1.33. The forecast for full-year EPS is in the range of $4.38 to $4.46. Previously the company had forecast $4.30 to $4.40. Stifel analyst Mark Astrachan commented, "Overall the (Q3) result suggests investments continue to favorably impact comp growth and shows Walmart is effectively competing in a tough retail environment. From a stock standpoint, we anticipate modest outperformance as WMT shares trade at low double-digit premiums to historical averages."

Access RDI's Wal-Mart Stores, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=WMT

Time Warner Inc. shares closed up a modest 0.73% on Thursday with around 13.2 million shares traded. It was yesterday that AT&T announced that it has hired Daniel Petrocelli, a media lawyer who has represented President Donald Trump in the past. The company has hired Petrocelli to defend AT&T's acquisition of Time Warner Inc. if the government sues to block the deal from happening. Petrocelli has also represented Time Warner before as well as Walt Disney Co. in 2017. It's ironic because President Trump has declared he would block the proposed deal before. AT&T chief financial officer, John Stephens remarked yesterday that it was unclear when the deal would close. He said, "As of this time, the timing of the close is uncertain. We continue to believe the transaction will close."

Access RDI's Time Warner Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=TWX

Our Actionable Research on Wal-Mart Stores, Inc. (NYSE: WMT) and Time Warner Inc. (NYSE: TWX) can be downloaded free of charge at Research Driven Investing.

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