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 news 

Wall Street ends slightly down, S&P positive for seventh week

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/16/2013 | 12:17am CET

The S&P 500 dipped in a late decline on Friday as Wal-Mart dropped following a report of a weak start to February sales, though the index just barely extended its streak of weekly gains to seven.

Equities were little changed for much of the session, with investors finding few reasons to make big bets following an extended rally on Wall Street, but stocks turned lower in afternoon action.

Wal-Mart Stores Inc (>> Wal-Mart Stores, Inc.) dropped 2.1 percent to $69.30 after Bloomberg News reported a weak start to February sales, citing internal company e-mails. The stock was the biggest decliner on the Dow, while the S&P retail index <.SPXRT> fell 0.5 percent.

"When a retailer of this size comes out with this kind of lousy news, the whole market can fall off, especially on a Friday afternoon," said Mike Shea, trader at Direct Access Partners in New York. "However, I'm not worried that this is indicative of any larger macro issue with retail."

Equities have struggled for direction recently, with major indexes moving only slightly in the past several sessions. The S&P didn't end a session with a move greater than 0.2 percent at all this week.

The benchmark index, up 6.6 percent so far this year, is facing strong technical resistance near the 1,525 level. But investors, expecting the index to advance further in the quarter, have held back from locking in profits.

"There's no news that suggests the strong underpinning for stocks isn't appropriate. We may have gotten ahead of ourselves, but there's also an absence of bad news," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

Many investors are starting to look ahead to a debate in Washington over sequestration, automatic across-the-board spending cuts put in place as part of a larger congressional budget fight. The cuts are due to kick in March 1 unless lawmakers agree to an alternative.

"This had been far enough out to not yet become an impediment for stocks, but it will start to move into the forefront and cause people to take a bit of a jaundiced eye towards the market," said Luschini, who helps oversee about $54 billion in assets.

The Dow Jones industrial average <.DJI> was up 11.27 points, or 0.08 percent, at 13,984.66. The Standard & Poor's 500 Index <.SPX> was up 0.32 points, or 0.02 percent, at 1,521.70. The Nasdaq Composite Index <.IXIC> was up 1.51 points, or 0.05 percent, at 3,200.17.

For the week, both the Dow and Nasdaq fell 0.1 percent while the S&P rose 0.1 percent in its seventh straight week of gains, a period during which the index rose 8.4 percent. The last such seven-week run was between December 2010 and January 2011.

The New York Federal Reserve said manufacturing in New York state expanded for the first time in seven months, while Thomson Reuters/University of Michigan's preliminary reading of consumer sentiment rose from the prior month and beat expectations.

But U.S. manufacturing fell in January after a rise in the prior month.

Wall Street's gain thus far in 2013 has largely been driven by strong corporate earnings, while data indicated some weakening in economic conditions.

A surge in merger and acquisition activity, with more than $158 billion in deals announced so far in 2013, has given further support to the equity market as it points to healthy valuations and bets on the economic outlook.

Herbalife (>> Herbalife Ltd.) shares cut earlier gains to rise 1.2 percent to $38.74. Late Thursday, billionaire investor Carl Icahn said in a regulatory filing that he now owns 13 percent of Herbalife and was ready to put it in play.

MeadWestvaco Corp (>> MeadWestvaco Corp.) climbed 12.5 percent to $35.65 as the biggest percentage gainer on the S&P index after activist investor Nelson Peltz's Trian Fund Management LP said it had bought about 1.6 million shares of the packaging company.

Burger King Worldwide (>> Burger King Worldwide Inc) shares gained 4.7 percent to $17.36 after it beat estimates with a 94 percent rise in fourth-quarter profit, thanks to new menu additions.

Oil service stocks declined, weighed by a 5.1 percent drop in shares of Transocean <RIG.N> to $56.26, after the rig contractor reported its fleet update and Deutsche Bank cut its rating on the stock to "sell." The PHLX oil service sector <.OSX> lost 1.5 percent.

Slightly more stocks fell than rose on the New York Stock Exchange while about 50 percent of Nasdaq shares ended lower. About 6.69 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, above the daily average so far this year of about 6.48 billion shares.

(Editing by Nick Zieminski)

By Ryan Vlastelica

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WAL-MART STORES, INC.
02:34p WAL MART STORES : Judge calls murder 'callous,' sentences Riverdale man to 16 ye..
12:55pDJToday's Top Supply Chain and Logistics News From WSJ
12:08p WAL MART STORES : Human Element Launches First B2C Website for DynacraftWheels.c..
12:04p WAL MART STORES : One dead, one wounded in Oxnard shooting
11:47a WAL MART STORES : Wofford junior becomes youngest elected official in SC
10:37a WAL MART STORES : APD serves, protects 
children in need at Christmas
10:37a WAL MART STORES : Waco’s sales tax rebate slips slightly; Wal-Mart eyes Ja..
02:11a WAL MART STORES : Salvation Army needs soldiers to maintain services
02:06a VIDEO : Masked men threaten Standing Rock people at hotel
01:58aDJCostco Same-Store Sales Rise After String of Declines -- Update
More news
Sector news : Supermarkets & Convenience Stores
11:11a Ocado says new high-tech centre boosts chances of international deal
12/05 No longer the bad guy, Tesco set to reassert UK dominance
12/01DJKROGER : Cuts Full-Year Profit Goal -- Update
12/01 Lower food prices weigh on Kroger's profit forecast
12/01DJKROGER : Cuts Full-Year Profit Goal -- Update
More sector news : Supermarkets & Convenience Stores
News from SeekingAlpha
08:45a Amazon Is A Must-Own Hedge Against Traditional Retail Company Headwinds
06:59a WALL STREET BREAKFAST : ECB Watchers Wonder What Comes Next
04:34a Wal-Mart discloses big investment in Mexico
12/07 Is Rebalancing A Stock Portfolio A Form Of Value Investing?
12/07 Are Analysts' Long-Term Estimates The Key To Success?
Advertisement
Financials ($)
Sales 2017 485 731 M
EBIT 2017 22 829 M
Net income 2017 13 647 M
Debt 2017 41 376 M
Yield 2017 2,82%
P/E ratio 2017 15,96
P/E ratio 2018 16,19
EV / Sales 2017 0,53x
EV / Sales 2018 0,53x
Capitalization 216 967 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, ...
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 31
Average target price 74,3 $
Spread / Average Target 5,2%
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, INC.15.17%216 967
ALIMENTATION COUCHE TA..2.77%26 480
CARREFOUR-16.14%18 238
WHOLE FOODS MARKET, IN..-8.96%9 880
DAIRY FARM INTERNATION..21.10%9 857
CENCOSUD SA--.--%8 575
More Results