Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Wal-Mart Stores Inc    WMT

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Wall Street ends higher in short session, led by techs

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/23/2012 | 07:52pm CET

Stocks rose for a fifth day during a holiday-shortened, thinly traded session on Friday as investors picked up recently beaten-down shares of large technology companies.

Market participants were also encouraged by signs of progress in talks about releasing aid to debt-saddled Greece and piled into U.S. retail shares as Black Friday got the holiday shopping season under way.

U.S. stock market trading ended early and was closed on Thursday for the Thanksgiving holiday.

Volume was the lightest of the year, though the session was abbreviated. Shares of big-cap technology companies climbed as investors took advantage of the day's upward momentum to add to positions, helping the S&P 500 rack up its second best week of 2012.

"Anyone that was on the sidelines waiting for a pullback like the one we just had in some of the tech names, they're looking for any glimpse of strong price action for 'permission' to enter into those (stocks)," said Todd Salamone, director of research at Schaeffer's Investment Research in Cincinnati, Ohio

Microsoft (>> Microsoft Corporation) helped lift the Nasdaq, gaining 2.8 percent to $27.70, while Apple Inc (>> Apple Inc.) rose 1.7 percent to $571.50.

From mid-September to mid-November, the S&P tech sector <.GSPT> shed about 13 percent as the broader market also dropped.

Research in Motion <RIMM.O> surged on optimism about its soon-to-be-launched BlackBerry 10 devices that will vie against Apple's (>> Apple Inc.) iPhone and Android-based smartphones. RIM was up 13.6 percent at $11.66.

Greece said the International Monetary Fund had relaxed its debt-cutting target for the country, suggesting lenders were closer to a deal for a vital aid tranche to be paid. But other sources involved in the talks cautioned the funding gap was far bigger than Greece has suggested.

Euro zone finance ministers, the IMF and European Central Bank (ECB) failed earlier this week to agree on how to shrivel the country's debt to a sustainable level and will have a third attempt at resolving the issue on Monday.

The Dow Jones industrial average <.DJI> gained 172.79 points, or 1.35 percent, to 13,009.68. The Standard & Poor's 500 Index <.SPX> rose 18.12 points, or 1.30 percent, to 1,409.15. The Nasdaq Composite Index <.IXIC> climbed 40.30 points, or 1.38 percent, to 2,966.85.

The S&P 500 broke a two-week losing streak to rise 3.6 percent. Stocks had tumbled earlier in the month on worries about the impact of tax and spending changes set to take effect from January, but hopes that politicians will reach a deal to avert the so-called fiscal cliff helped the market recoup some of those declines this week.

The Dow and S&P 500 both closed above key technical levels for the first time since Nov 6, which could provide additional support. The Dow ended above 13,000, while the S&P broke above 1,400.

The Dow rose 3.3 percent for the week, while the Nasdaq jumped 4 percent. The Nasdaq had ended lower for the previous six weeks in a row.

Volume was about 2.8 billion shares on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the year-to-date average daily closing volume of over 6 billion.

Advancers outnumbered decliners on the NYSE by 2,407 to 469 on the New York Stock Exchange. On the Nasdaq, advancers had the lead, with 1,775 stocks gaining and 548 shares declining.

The retail sector rose as investors looked for signs of how much consumers are spending as stores lured shoppers with Black Friday deals and discounts.

Black Friday, the day after Thanksgiving, kicks off the U.S. Christmas shopping season for retailers and is often the busiest shopping day of the year. The National Retail Federation expects sales during the holiday season to grow 4.1 percent this year compared with last year's 5.6 percent increase.

If the traffic and sales numbers look strong early on, "it usually gives a sense that the season will be in line with expectations," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

"The way that could work against a stronger retail season is if there's no follow-through, there could be discounting on the part of retailers."

Wal-Mart (>> Wal-Mart Stores, Inc.) rose 1.9 percent to $70.20, while Target (>> Target Corporation) gained 1.2 percent to $64.48.

(Editing by Kenneth Barry)

By Leah Schnurr

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WAL-MART STORES INC
02/22 WAL MART STORES : Morrissey ties Walmart death to errant bullet
02/22 WAL MART STORES : Mart 4Q online sales increase 29% Business briefing Italian ta..
02/22 WAL MART STORES : Only 14% of plastics are recycled – can tech innovation ..
02/22 WAL MART STORES : Walmart's $3 billion man is coming to Code Commerce in March
02/22 WAL MART STORES : WORX Clamping Sawhorses and New Pegasus Worktable Are Solid, P..
02/22 WAL MART STORES : LIBRARY HAPPENINGS Tufts Library accepting gently used donatio..
02/22 WAL MART STORES : TheraBreath Launches Kids Rinse Just in Time for Childrens Ora..
02/22DJWal-Mart, Home Depot Buck Trend -- WSJ
02/22 WAL MART STORES : Charges upgraded after Corpus Christi's 5th homicide
02/22 WAL MART STORES : Gunman given prison for gang-related June shooting that hurt 1..
More news
Sector news : Supermarkets & Convenience Stores
02/22DJDIMENSIONAL FUND ADVISORS LTD. DIMEN : Form 8.3 - Tesco Plc - Ordinary Shares
02/22DJTESCO : Investec Bank plc Form 8.5 (EPT/RI) - Tesco Plc
02/21DJWOOLWORTHS : Pares Dividend as Underlying Profit Falls
02/21DJTESCO : Investec Bank plc Form 8.5 (EPT/RI) - Tesco Plc
02/20DJTESCO : Investec Bank plc Form 8.5 (EPT/RI) - Tesco Plc
More sector news : Supermarkets & Convenience Stores
News from SeekingAlpha
12:22a Cash Flow Is King And Wal-Mart Rules The World
02/22 DIVIDENDS, FREE CASH FLOWS, AND POSI : The Wal-Mart Story
02/22 What This 27-Year-Old's Portfolio Looks Like
02/22 WHOLE FOODS : Easy Activist Pickings
02/22 Amazon matches Wal-Mart's no-fee shipping minimum
Advertisement
Financials ($)
Sales 2018 494 338 M
EBIT 2018 22 355 M
Net income 2018 13 107 M
Debt 2018 39 121 M
Yield 2018 2,89%
P/E ratio 2018 16,50
P/E ratio 2019 15,64
EV / Sales 2018 0,52x
EV / Sales 2019 0,51x
Capitalization 220 378 M
More Financials
Chart WAL-MART STORES INC
Duration : Period :
Wal-Mart Stores Inc Technical Analysis Chart | WMT | US9311421039 | 4-Traders
Full-screen chart
Technical analysis trends WAL-MART STORES INC
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 36
Average target price 74,7 $
Spread / Average Target 4,2%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Gregory B. Penner Non-Executive Chairman
Michael J. Bender Chief Operating Officer-Global eCommerce
Brett M. Biggs Chief Financial Officer & Executive Vice President
Karenann K. Terrell Chief Information Officer & Executive VP
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
WAL-MART STORES INC3.37%220 378
ALIMENTATION COUCHE TA..2.01%27 294
CARREFOUR-2.27%17 858
DAIRY FARM INTERNATION..19.77%11 469
WHOLE FOODS MARKET, IN..1.50%9 907
CENCOSUD SA--.--%8 836
More Results