Wal-Mart races to all-time high

Nov. 16, 2017 9:46 AM ETWalmart Inc. (WMT)WMT, COST, TGTBy: Clark Schultz, SA News Editor90 Comments
  • Wal-Mart (WMT +6.8%) jumps to an all-time high of $95.94 after Q3 earnings shine and full-year guidance is set ahead of analyst estimates.
  • While e-commerce acquisitions and some hurricane-related spending helped lift revenue during the quarter, management thinks there's underlying strength with the business.
  • "We have momentum and it is encouraging to see customers reacting to our store and e-commerce initiatives," said CEO Doug McMillon.
  • Early analyst reaction has been favorable. "Overall the F3Q result suggests investments continue to favorably impact comp growth and shows Walmart is effectively competing in a tough retail environment," observes Stifel's Mark Astrachan.
  • Costco (COST +0.8%) and Target (TGT +1.1%) are poking out some early gains, although there's been some talk that Wal-Mart's market share gains in key categories will be hard to reel back in.
  • The way shares of Wal-Mart are being gobbled up today it's not inconceivable that a triple digit handle is on the way.
  • Previously: E-commerce growth explodes at Wal-Mart (Nov. 16)

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