Walmart Tumbles on Sales; Coty Falls on Forecast | Stock Movers
On this episode of Stock Movers: - Shares of Walmart (WMT) tumbled ahead of the market open after the retail giant’s quarterly sales fell short of expectations, a rare miss that’s likely to stoke concern about the leading big-box retailer decelerating alongside a slow-growing US economy. - Shares of Advanced Auto Parts (AAP) sunk in premarket trading after the parts provider reported…
On this Stock Movers episode, Walmart (WMT) shares took a nosedive prior to the market opening, following the retail behemoth's quarterly sales that fell below expectations. This is a rare occurrence for the leading big-box retailer, raising concerns about its deceleration in tandem with the US economy's sluggish growth.
Similarly, Advanced Auto Parts (AAP) experienced a decline in premarket trading after reporting second-quarter sales that missed analyst estimates. Although the company raised its adjusted earnings per share projection for the entire year, it retained its sales guidance, which was also below estimates.
Coty (COTY) suffered a decrease in shares following the beauty conglomerate's fourth-quarter results. While Coty's net revenue for the quarter surpassed the average analyst projection, the company did not provide a full-year forecast. Instead, it stated it anticipates issuing a broader outlook subsequent to a strategic review.
Written by urgent.news from Bloomberg's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
