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In the Premarket trading session on Thursday, Walmart Inc.’s stock was trading at 124.65- higher by 3.03% as compared to its previous close.
The retailer reported better-than-expected quarterly online sales before the market opened today. The company also raised its annual earnings outlook for the full year. Sales at U.S. stores open at least a year rose 3.2 % in the third quarter, higher than market expectations of a 3.1% increase.
The retailer’s third-quarter total revenue increased 2.5% to $127.99 billion from $124.89 billion a year ago. The revenue was, however, below the consensus estimates of $128.65 billion. Walmart reported an adjusted EPS of $1.16 for the quarter ended 31st October. The EPS was above the market expectation of $1.09.
For the fiscal year 2020, the retailer now expects adjusted earnings per share to increase slightly, including Flipkart, compared with last year. Previously, the company expected a slight decrease to a slight increase in adjusted earnings per share.
On the technical front, the current price is above the MA5 and the MA20. The current price is above the upper band of the Bollinger Bands and is heading upwards. The stock is expected to trade higher today.
TRADE SUGGESTION-LIMIT BUY AT 124.40 TAKE PROFIT AT 125.80 STOP LOSS AT 123.70