WMT stock

Other retail stocks fell during premarket trading in the wake of the Walmart warning, including a 3.6% drop for Amazon (AMZN), 5.2% for Target (TGT) and 2.5% ...

Unilever (UL) – Unilever gained 2.3% in premarket action after raising its full-year sales forecast. Whirlpool (WHR) – Whirlpool reported a quarterly loss, but its revenue and adjusted profit beat Wall Street forecasts. Other retail stocks fell during premarket trading in the wake of the Walmart warning, including a 3.6% drop for Amazon (AMZN), 5.2% for Target (TGT) and 2.5% for Home Depot (HD). Raytheon fell 3.3% in the premarket. Raytheon Technologies (RTX) – The defense contractor reported second-quarter earnings that were better than expected, but revenue was slightly short of Wall Street forecasts. Walmart (WMT) – Walmart slumped 9.5% in the premarket after cutting its outlook for the current quarter and full year.

The nation's largest retailer cut its second-quarter and full-year profit forecasts, citing higher fuel and food prices. by: Karee Venema. July 26, 2022.

For investors, the uncertainty can be unnerving, but Klingelhofer says the best thing they can do in today's market is to get defensive via high-quality fixed-income plays and dividend-paying stocks. Another way for investors to prioritize defense is with low-volatility stocks, which can provide stability to portfolios amid the market's twists and turns. However, "the Fed has indicated nothing's off the table for this Wednesday's meeting and that will sway markets one way or another," says Jeff Klingelhofer, co-head of investments at Thornburg Investment Management. The central bank has to nail this, he adds. "We now see full-year results coming in at the lower end of guidance as it struggles with inflation, supply-chain issues, and weaker volumes than a year ago," says CFRA Research analyst Garrett Nelson, who lowered his rating on GM to Hold from Buy. "We think still more patience is going to be required of investors before shares begin to turn the corner – and its EV transition could see some speed bumps. In a letter to staff, CEO Tobi Lutke said management misjudged the growth e-commerce would see after the pandemic boom faded and now the company must adjust to meet slowing demand. On the upside, the company's Q2 revenue of $35.8 billion came in higher than expected and it maintained its full-year forecast. The Nasdaq Composite was the biggest decliner, though, sinking 1.9% to 11,562, as cybersecurity stocks Zscaler ( ZS, -9.1%) and Palo Alto Networks ( PANW, -7.9%) tumbled. The latest rate hike from the Federal Reserve is due out tomorrow, with the market pricing in a 75 basis-point (a basis point is one-one hundredth of a percentage point) increase. Survey participants continued to cite rising gas and food prices as their main worries. The company also cut its full-year profit forecast, as it expects even more pressure on general merchandise over the next two quarters. Ongoing concerns about inflation were also evident in the latest consumer sentiment data that hit the Street today. - General Motors (GM) shed 3.4% after the carmaker reported second-quarter adjusted earnings per share of $1.14, falling short of analysts' consensus estimate.