On Tuesday, Shares of Wal-Mart Stores Inc. (NYSE:WMT), lost -3.38% to $69.48 hitting its lowest level.
Wal-Mart Stores reports Q2 FY 16 EPS of $1.08, updates guidance.
- Q2 diluted EPS from ongoing operations was $1.08. Currency exchange rates negatively influenced EPS by about $0.04.
- Comp sales at Walmart U.S. raised 1.5%, driven by traffic of 1.3%. Neighborhood Market comps raised about 7.3%, with strong growth from new stores. Customer experience scores improved over last year.
- Total revenue was $120.2 billion. On a constant currency basis, total revenue was $124.5 billion.
- E-commerce sales globally raised about 16% on a constant currency basis. Gross merchandise value, or GMV, raised about 18% on a constant currency basis.
- Q2 earnings were pressured by currency fluctuations, lower Walmart U.S. margins and investments in customer experience. Merged operating income declined 10%.
- Walmart updated full year EPS guidance to a range of $4.40 to $4.70, from a previous range of $4.70 to $5.05. This range comprises Q3 EPS guidance of $0.93 to $1.05.
Wal-Mart Stores, Inc. operates retail stores in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam’s Club. It operates discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, restaurants, apparel stores, drug stores, and convenience stores, in addition to retail Websites, such as walmart.com and samsclub.com.
Shares of United States Steel Corp. (NYSE:X), declined -2.84% to $18.46, during its last trading session.
U.S. Steel Corp. on Monday said it would shut its blast furnace and some steel finishing operations in Alabama, marking a noteworthy retrenchment by the steelmaker as it tries to survive a weak market and competition from inexpensive imports, according to WSJ.
After losing money in five of the past six years, U.S. Steel, under Chief Executive Mario Longhi, is trying to remake itself by downsizing, cutting costs, and becoming more nimble and responsive to the market. WSJ Reports
The Brazilian-born Mr. Longhi has said Pittsburgh-based U.S. Steel must adapt and that “everything is on the table” in remaking the company. WSJ added.
United States Steel Corporation produces and sells flat-rolled and tubular steel products in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular).
Finally, Cliffs Natural Resources Inc. (NYSE:CLF), ended its last trade with -8.80% loss, and closed at $3.42.
Cliffs Natural Resources declared the early results of its formerly declared offer to purchase for cash (the “Tender Offer”), subject to certain terms and conditions, certain of its outstanding 3.95% Senior Notes due 2018 (the “Notes”). The Company also declared that it raised the maximum aggregate principal amount of the Notes to be purchased following the Tender Offer from $100,000,000 to $123,694,000 (the “Maximum Amount”). Tendered Notes cannot be withdrawn after the Withdrawal deadline, which was 5:00 p.m., New York City time, on August 13, 2015.
On July 31, 2015, the Company commenced the Tender Offer in accordance with the terms and conditions set forth in the Offer to Purchase and a related Letter of Transmittal, both dated July 31, 2015 (together, the “Tender Offer Materials”). The Tender Offer will expire at midnight, New York City time, on August 27, 2015 (the “Expiration Date”), unless extended or earlier terminated by the Company.
Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore and metallurgical coal. It operates five iron ore mines that produces iron ore pellets in Michigan and Minnesota; Koolyanobbing complex situated in northeast of the town of Southern Cross, which produces lump and fines iron ore; and two metallurgical coal mines located in Alabama and West Virginia.
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