Retail Giant Drops 4.5%
Attention traders: It’s the beginning of the trading week and our Lead Trading Tactician Nate Bear has some weekly stocks for you to keep an eye on. Click the video below to get started.
Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures took a downswing on Tuesday. Investors will be looking at financials from Walmart and the Home Depot (more on that below). The Dow Jones logged its third-straight losing week for the first time since September. However, the Nasdaq notched a weekly gain of 0.6%.
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Here’s a look at the top-moving stocks this morning.
Walmart (NYSE: WMT)
Walmart is down 4.5% premarket after than company offered weaker-than-expected guidance for the first quarter and full fiscal 2024. The retail giant posted net income of $6.275 billion, or $2.32, for the fourth quarter, up from $3.562 billion in the year-earlier period. But its weaker guidance led to the drop in share price.
Home Depot (NYSE: HD)
Home Depot is down 4.20% premarket after the home improvement retailer’s disappointing quarterly earnings report and guidance. That was enough to make the stock the biggest decliner, of the 28 of 30 Dow Jones Industrial Average components that were falling ahead of the open. Overall revenue of $35.8 billion was below estimates of $36 billion.
Those are the biggest stock movers for today.
The Wake-Up Watchlist Research Team