Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Two Ways To Play: Wal-Mart Rolling Back Prices, Earnings Estimates

By

Strengthen your portfolio in good times and bad.

PrintPRINT

Wal-Mart Cuts Outlook

Wal-Mart (WMT) shares are trading lower in Europe this morning. According to Bloomberg, the world's largest retailer cut its full-year outlook due in part to gains in the dollar against other currencies. The company reported third-quarter earnings of $0.77 a share, a penny better than consensus estimates. Revenues rose 7.5% year-over-year to $97.63 billion, versus $98.26 billion consensus.

CEO Lee Scott said he was optimistic about the holiday season, but the company still cut its annual earnings forecast to $3.42-$3.46 per share from a previous estimate of $3.43-$3.50. Analysts, meanwhile, were banking on $3.48.

See Toddo's The Great Expression for more context on our economy.

From the Bull Pen: Those who remain bullish on Wall-Mart are looking past the cut in guidance and seeing the series of higher lows on the daily chart. A near-term sell stop can be set below $52. Another retailer to consider is Dollar Tree (DLTR). One might be able to catch it on a pullback near $35-$36.

From the Bear Cave: Bears can consider Sherwin Williams (SHW) for a downside trade. A buy stop can be set near $54-$55.


Quick Check Around the World

Asian trading closed with the Hang Seng -5.15%, Nikkei -5.25%, Sensex -3.08%, Taiwan -3.85% and Shanghai 3.68%.

Glancing towards Europe, we see the CAC 0.18%, DAX -0.11%, FTSE -1.31%

As of 8:20 a.m. EST, S&P Futures are trading -3 to 850, and Nasdaq futures are -11 to 1152.


A Look At Commodities

Crude oil is trading +0.56 to 56.72. Gold is -4.500 to 713.80. Silver is -0.180 to 9.300 and copper is +0.700 to 164.95.

The dollar index is +0.108 to 87.574.


On the Radar

Economics

08:30 Trade Balance
08:30 Initial Jobless Claims
08:30 Continuing Claims

Click here for the full trading radar.

Good luck today!

What are the pro traders saying about your stocks?
Minyanville's Buzz & Banter - 14 day FREE trial

No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE