WMT Continues To Chug Along
On Monday, I argued that Target (TGT) shares were beat up and could rally if their report was just okay. And that’s what happened as a mixed quarter resulted in a 3% move higher on Wednesday. On Tuesday, I argued for holding Walmart (WMT) and Deere (DE) into earnings despite their trading near 52-week highs. The first part of the blog was proven correct this morning when WMT just reported stellar earnings. Walmart US comps were +6.4% and operating margins held up nicely at 4.6%. As a result, WMT increased its full year sales and EPS guidance, the latter from $6.10-$6.20 to $6.36-$6.46. Shares are currently +2% in the premarket.