|Bid||119.36 x 1800|
|Ask||119.40 x 800|
|Day's Range||119.21 - 120.97|
|52 Week Range||85.78 - 125.38|
|Beta (3Y Monthly)||0.41|
|PE Ratio (TTM)||27.00|
|Earnings Date||Nov 14, 2019|
|Forward Dividend & Yield||2.12 (1.75%)|
|1y Target Est||126.68|
What you need to know about J.C. Penney's latest challenging quarter.
Headlines moving the stock market in real time.
Garrett Nelson, CFRA Senior Equity Research Analyst, joins Yahoo Finance's Julie Hyman, Adam Shapiro and Dan Howley as well as Albion Financial's Jason Ware to talk about Walmart's blockbuster earnings.
Yahoo Finance's Julia LaRoche reports on Walmart's strong quarter and confident holiday outlook. She talks with Julie Hyman, Adam Shapiro, Kristin Myers and Albion Financial's Jason Ware.
It was a day of largely running in place on Wall Street. All three major stock indices were very little changed but the S&P 500 still crept up to a record closing high. National Securities chief market strategist Art Hogan: SOUNDBITE (ENGLISH): NATIONAL SECURITIES CHIEF MARKET STRATEGIST ART HOGAN, SAYING: "I think the only thing that we have to be concerned about is the fact that we've gotten to where we are pretty quickly. We've had a great five or six weeks where the market has gotten to all-time highs and it hasn't taken much of a breather." Walmart kicked off earnings season for the nation's big retailers. Results were better-than-expected on a number of metrics. A lot of the strength came from grocery shopping. Online sales were solid as well. Walmart boosted full-year forecasts ahead of the holidays. But the stock finished lower after hitting an all-time high. Cisco Systems was a drag. The stock fell 7 percent after its somber forecast renewed investor concerns about global business spending, which has been held down due in part to trade uncertainties and political tension like Brexit and protests in Hong Kong. Wall Street got another whiff of inflation. This time, producer prices saw their biggest jump in six months, led by the largest surge in healthcare costs since 2009. Economists, however, don't expect that to alter the Fed's neutral stance on interest rates.
Walmart Inc. announced in a Friday filing that Kathryn McLay will assume the role of Sam's Club chief executive, effective today. According to the filing, McLay's base salary will be $780,000, and she will be eligible for a cash incentive and other additional pay. She has served as executive vice president of Walmart U.S. Neighborhood Markets since February 2019. McLay succeeds John Furner, who was named chief executive of Walmart U.S. after Greg Foran's departure. Walmart stock is up 28.3% for the year to date while the Dow Jones Industrial Average has gained 19.6% for the period.
Walmart has beaten Amazon. • For the period shown on the chart, Amazon stock is up 15.55%, the Dow Jones Industrial Average is up 18.8% and Walmart stock is up 27.65%. • Earlier this year, many investors were having difficulty understanding why Walmart stock was in our Model Portfolio and Amazon stock was not.
This year, the firm launched seven new products that have become top sellers in the direct-to-consumer market, helping drive the company's $25 million in annual revenue.
Kroger (KR) partners with Ocado for the second time to open another CFC in Wisconsin. The move will facilitate faster grocery delivery and enhance omnichannel strategies.
Dillard's (DDS) reports better-than-expected earnings results in third-quarter fiscal 2019 on sequentially improved retail gross margin and comps, with lower inventory level.
Retail sales rose more than expected in October, but came in soft outside of the auto sector, somewhat undercutting the picture of a strong consumer.
(Bloomberg Opinion) -- Democratic senators from states won by President Donald Trump in 2016 have vowed not to end the legislative filibuster, making it unlikely the party will be able to accomplish much even if it wins back the White House and Senate next year. That gives added weight to what California is doing as it continues to pass legislation that can ripple across the nation. Democrats may discover that using California as a vehicle for a their agenda nationwide may be their best hope of getting anything done.Showing how hard it will be to pass progressive legislation in the next Congress isn't difficult. For one, Trump -- at this point -- stands a fair chance of winning re-election. But even if Democrats win the White House, they will have an uphill climb in the Senate. They need to flip three seats to gain control, and that's assuming they don't lose any of their own, including Doug Jones in deep-red Alabama. At best, Democrats could flip seats in Arizona, Colorado, North Carolina and Maine, plus perhaps a surprise hold in Alabama or a flip in challenging states like Iowa, Georgia or Texas. That would bring them to 50 or 51 seats. But Democrats would still be hamstrung by the legislative filibuster, as well as the voting tendencies of senators from West Virginia and Montana who probably would oppose grand agenda items like Medicare for All or the Green New Deal.Once that reality sets in for progressives, they'll be looking for an outlet to channel the energy now focused on the presidential campaigns of Vermont Senator Bernie Sanders and Massachusetts Senator Elizabeth Warren. The California legislature would be a good place to start.California is important not just because Democrats have supermajorities in the state legislature, or because it's a state with a huge economy, but because corporations and businesses are increasingly national or global in scope. If businesses feel compelled to play by progressive rules in California, they may decide to operate their businesses the same way everywhere. A recent example is California's passage of a law allowing college athletes to get paid for the use of their name, image and likeness. If a small state like Delaware had passed such a law, maybe the National Collegiate Athletic Association, which sets rules for student athletes, could strike back or even ignore it. But California is too large a market for that. Fearing that California universities would have a leg up in recruiting student athletes, other states started introducing similar legislation. Under growing pressure, the NCAA is taking steps to address the issue. Essentially, a California law is changing conditions for college athletes nationwide.Higher minimum wages and the corporate response to them are another area with nationwide ripples. In April 2016, California adopted a law that would raise the state's minimum wage to $15 an hour by 2022. Some other states have followed suit. In theory, companies could pick and choose how they operate in different states based on state-specific minimum wage laws. But in response, some large companies have increased their minimum wage levels nationwide. Walmart, for instance, raised its pay floor to $11 an hour in January 2018 -- 10 days after California's minimum wage rose to the same level.Some retailers have responded to California's higher pay scale by stepping up efforts to install self-checkout machines and save on labor costs. But not just in California. For example, in Georgia, where I live, retailers have been installing the machines even though the state hasn't increased its minimum wage of $5.15 an hour in more than 15 years. For large corporations, it makes sense to install them everywhere -- not just in one state -- to streamline operations.Perhaps a preview of the bigger fights to come can be found in California's efforts to set vehicle emissions standards that are tougher than national requirements. Here, a similar logic for companies applies. If automakers want to sell in California -- and most do -- it makes more sense to build vehicles that all comply with state regulations rather than producing lower-emission one for California and higher-emission one for the rest of the country. It's unclear how courts will rule on this and similar fights between California and the federal government, but we should expect more of these standoffs in the years to come, particularly if Trump wins re-election.In a way, progressives would be adopting the same tactics that China used when it put pressure on the National Basketball Association, threatening to limit the league's business opportunities in the country after a Houston Rockets team official made comments supporting Hong Kong's protesters. In a global economy, market size and power tend to dictate cultural and political power. Although progressives are unlikely to get much of what they want in Washington in 2021 or beyond, regardless of the election outcome there's untapped potential for them in California.To contact the author of this story: Conor Sen at email@example.comTo contact the editor responsible for this story: James Greiff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Conor Sen is a Bloomberg Opinion columnist. He is a portfolio manager for New River Investments in Atlanta and has been a contributor to the Atlantic and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Walmart’s e-commerce business got a boost from grocery, but it needs sell more non-food items online, analysts say.
Walmart has expanded its online grocery voice ordering feature to Apple’s virtual assistant Siri. Customers can ask Siri to add items directly to their Walmart online grocery cart after they’ve paired their accounts. The service is available on iPhone, iPad, Apple Watch, Mac, HomePod or in the car with CarPlay.
Walmart became the latest company to point to a strong U.S. consumer, adding to a raft of firms in recent weeks citing healthy demand at a time when spending is seen as an increasingly key support for the economy. Several companies including banks and homebuilders have painted an upbeat picture of consumer health in conference calls this reporting season, even as many firms have offered more dour outlooks especially given the lingering U.S.-China trade war. Reports of strong demand from companies are a welcome sign to some in the market amid weakening manufacturing activity and a slump in business investment.
Target jumped over 2% Thursday after rival Walmart impressed Wall Street once again with its comps and e-commerce growth. So is it time to buy TGT stock heading into earnings?