Walmart To Open Lower On Earnings Guidance
Source: http://feeds.feedburner.com/~r/StocksOptionsBlog/~3/506223085/Posted on Thursday, January 8th, 2009 | In Stocks to Watch
Contributed by: Daniel Shepard (http://www.navivest.com/blog) -
Thursday January 8, 2009
Navivest
Shares of Walmart (WMT) are indicated to open down a whopping $4.53 after the company cut its forecast for Q4 2008 earnings from continuing operations, to $0.91 to $0.94 per share. The company had previously issued guidance for the period of $1.03 to $1.07 a share, with consensus estimates coming in at $1.06.
Walmart was supposed to be a standout as the economic downturn cut consumers’ spending power, and more of them turned to discount stores to save money of which Walmart is the clear leader. But apparently, even Walmart is not immune.
The company also reported that same store sales for December rose just 1.7%. Wall Street analysts had been looking for a rise of 2.8%.
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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