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(visit the link for the full news article)
Walmart (WMT) reported earnings of $1.24 a share this morning on revenues of $116.2 billion. Analysts had been expecting $1.25 on $118.5 billion. Sales in stores open more than a year declined 0.3%. Walmart also guided lower for the full year citing a "challenging sales and operating environment." The stock is off sharply and at risk of going negative for the last 52 weeks.
Those are the numbers, but not the whole story. Walmart is the thermometer of the American economy. Disregard the government data. Jobs and GDP and all the rest are at best inaccurate measures of the economy and at worst
Originally posted by benrl
This and the Hindenburg omen being triggered, might be up for some interesting economic times.
Wall Street's chart gurus have spotted the ominous "Hindenburg Omen" in the stock market today.
Today's sighting is the sixth one in just eight days, and that's pretty significant for folks who believe history repeats itself.
It's extremely rare to see as many Omens occurring together as we've seen over the past 50 days. The last time was prior to the bear market in 2007. The time before that was prior to the bear market in 2000.
Originally posted by arjunanda
Walmart Earnings Disaster Exposes a Collapsing Economy: Davidowitz
finance.yahoo.com
(visit the link for the full news article)
Walmart (WMT) reported earnings of $1.24 a share this morning on revenues of $116.2 billion. Analysts had been expecting $1.25 on $118.5 billion. Sales in stores open more than a year declined 0.3%. Walmart also guided lower for the full year citing a "challenging sales and operating environment." The stock is off sharply and at risk of going negative for the last 52 weeks.
Those are the numbers, but not the whole story. Walmart is the thermometer of the American economy. Disregard the government data. Jobs and GDP and all the rest are at best inaccurate measures of the economy and at worst
Originally posted by peter_kandra
I think it may also partially be some backlash against Walmart and their business practices, etc. I know I've stopped buying a lot of things at Walmart and instead shop at local supermarkets and stock up periodically at BJs or Costco wholesale clubs.