In the latest market updates, Walmart (WMT) emerged as the top-performing stock of the week. The retail giant reported earnings of $0.60 per share (non-GAAP) in its most recent quarter, with a notable 21% growth in sales in its global e-commerce unit. Walmart’s success can be attributed to strong in-store pickup and delivery services, as well as growth in its advertising business by 24%.
Investors find WMT stock to be an attractive buy, as the company witnessed an increase in units sold and transactions, resulting in market share gains in general merchandise. Despite competitors struggling with customer service, Walmart has managed to enhance the overall shopping experience for its customers.
On the other hand, Cisco Systems (CSCO) experienced a decline in its stock performance as it resumed its bearish trend. The company’s shares fell from a $50 resistance level following its revenue report of $12.7 billion, marking a 13% decrease year-on-year. Investors remain uncertain about the potential growth impact of Cisco Hypershield, a new security innovation leveraging AI. Furthermore, EPS growth is not anticipated until 2026 due to factors like the Splunk acquisition.
Home Depot (HD) also faced challenges as it reported a slight drop in earnings per share during the first quarter of 2024. However, the company is focusing on expanding its professional market share by offering a unique set of capabilities and services. Customers can expect an improved experience in newly opened Home Depot stores.
Investors are hopeful that HD stock will bounce back from its recent underperformance, driven by investments in technology and enhanced capabilities that aim to elevate customer satisfaction. These efforts are anticipated to lead to increased productivity and market share growth for Home Depot in the future.
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