US stocks closed mixed on Thursday, with Walmart falling 8% after earnings disappointing. The Dow Jones Industrial Average dropped about 0.1%, while the Nasdaq Composite and the S&P 500 gained near 0.1%.
Walmart reported quarterly earnings that topped estimates and raised its annual outlook, but by slightly less than expected. Its shares fell around 8%. Macy’s stock jumped more than 5% after the department store’s profit beat expectations as freight costs improved.
The Labour Department reported first-time jobless claims rose to 231,000 vs. 217,000 in the previous week, and the Philadelphia Fed manufacturing index unexpectedly improved to -5.9 in November vs. October’s -9.0 reading.
Cisco Systems plummeted nearly 12% after reporting fiscal first-quarter earnings that topped estimates, though product orders fell again. The company’s outlook for CSCO stock in the current January-ending quarter came in well short of expectations.
Walmart plunged more than 6% after the company cautioned that consumer spending may be softening. However, it beat third-quarter estimates, with earnings of $1.53 a share on sales of $160.8 billion. Analysts expected profits of $1.52 a share on revenue of $159.65 billion.
Other earnings movers for the session included Alibaba, Macy’s, NetEase, and Palo Alto Networks. Alibaba stock plunged 8.7% in morning trade, while Macy’s stock soared nearly 13%.<\/p>\n","protected":false},"excerpt":{"rendered":"
US stocks closed mixed on Thursday, with Walmart falling 8% after earnings disappointing. The Dow Jones Industrial Average dropped about 0.1%, while the Nasdaq Composite and the S&P 500 gained near 0.1%. Walmart reported quarterly earnings that topped estimates and raised its annual outlook, but by slightly less than expected. Its shares fell around 8%. …<\/p>\n","protected":false},"author":13,"featured_media":62504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[8161,7070,7587,8038],"class_list":["post-92696","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-alibaba","tag-jobless-claims","tag-us-stocks","tag-walmart"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=92696"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92696\/revisions"}],"predecessor-version":[{"id":92703,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/92696\/revisions\/92703"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/62504"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=92696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=92696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=92696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}