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    WMT

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

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 CEST
Traders work on the floor of the New York Stock Exchange

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
08:47p WAL MART STORES : Stephen Sullivan
08:01p WAL-MART STORES, INC. : Announces Pricing for Cash Tender Offer
07:19p WAL MART STORES : Who's knockin'? Top Magic Valley Halloween costumes
07:16p WAL MART STORES : Cheyenne fire chief looks for new ways to raise money in growi..
06:24p WAL MART STORES : Community Calendar
06:07p WAL MART STORES : Vegetable recall includes products sold at Walmart, Aldi and T..
04:36p WAL MART STORES : Will Walmart’s ‘Scan and Go’ Eliminate the N..
03:27p Target gears up for holidays with free shipping and gifts under $15
01:03p WAL-MART STORES, INC. : Announces Early Participation Results for its Cash Tende..
09:53a WAL MART STORES : Target plans fewer promotions it hopes will pack bigger holida..
More news
News from SeekingAlpha
03:51p Amazon's Antitrust Problem
12:40p The Anti-Amazon Portfolio Strategy
06:42a WALL STREET BREAKFAST : Earnings Season Kicks Into High Gear
10/22 QUARTERLY REVIEW OF DIVGRO : Q3-2017
10/22 Costco Has A Looming Cardboard Problem
Financials ($)
Sales 2018 496 B
EBIT 2018 22 708 M
Net income 2018 12 961 M
Debt 2018 39 992 M
Yield 2018 2,34%
P/E ratio 2018 20,36
P/E ratio 2019 18,89
EV / Sales 2018 0,61x
EV / Sales 2019 0,59x
Capitalization 261 B
Chart WAL-MART STORES
Duration : Period :
Wal-Mart Stores Technical Analysis Chart | WMT | US9311421039 | 4-Traders
Technical analysis trends WAL-MART STORES
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 86,8 $
Spread / Average Target -0,78%
EPS Revisions
Managers
NameTitle
C. Douglas McMillon Chief Executive Officer & Director
John Furner President
Gregory B. Penner Non-Executive Chairman
Jonathan Barker Chief Operating Officer
Brett M. Biggs Chief Financial Officer & Executive Vice President
Sector and Competitors
1st jan.Capitalization (M$)
WAL-MART STORES26.50%261 201
ALIMENTATION COUCHE TARD INC-3.34%26 702
CARREFOUR-21.93%16 312
YONGHUI SUPERSTORES CO., LTD83.71%13 043
AVENUE SUPERMARTS LTD0.00%11 202
DAIRY FARM INTERNATIONAL HOLDINGS LTD14.41%10 955