Shutterstock photo
Markets

Wal-Mart down 1.4% ahead of the open after cutting full-year forecast

Shutterstock photo

Shutterstock photo

Investing.com -

Investing.com - Shares of Dow component Wal-Mart (NYSE:WMT) declined in pre-market trade on Thursday, after the retailer cut its full-year earnings outlook.

U.S. retail giant Wal-Mart said earnings per share came in at $1.21 in the second quarter, broadly in line with market expectations.

The company's second quarter revenue totaled $120.13 billion, above forecasts for revenue of $119.0 billion.

Wal-Mart U.S. comp sales were flat for the 13-week period ended August 1, 2014.

Wal-Mart forecast third quarter earnings per share in a range between $1.10 and $1.20, compared to expectations for earnings of $1.18 per share.

The retailer now sees full-year earnings per share in a range between $4.90 and $5.15, down from a previous range of $5.10 to $5.45 per share.

The new full year guidance reflects incremental investments in e-commerce and higher U.S. health-care costs than previously anticipated.

Following the release of the report, Wal-Mart Stores (NYSE:WMT) shares declined 1.4% in pre-market trade.

Meanwhile, U.S. stock futures pointed to a higher open. The Dow pointed to a gain of 0.1% at the open, the S&P 500 added 0.15%, while the Nasdaq 100 picked up 0.15%.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx