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Wal-Mart Stores Inc. Add to portfolio

INX:WMT, May 20, 11:17 UTC

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The Amazonification of Walmart Continues

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At first sight, it may appear Walmart's (NYSE: WMT) performance under CEO Doug McMillon is lacking. There's more to the story as McMillon has done an admirable job refocusing a company that had lost its momentum under prior CEO Mike Duke while repositioning the company for the future. Walmart Labs has nearly 400 job openings, with most sounding more like positions at Amazon, including data scientist, cloud computing engineer, and streaming data engineer. While Walmart has a long-term focus to compete with Amazon for the e-commerce market, the company will continue to be defined by its brick-and-mortar retail channel. However, Walmart is looking at using technology to wring out efficiencies from its 700 million square feet of U.S. retail space. Legacy shareholders purchased the company expecting a brick-and-mortar retailer, not a technology company. Even if Walmart's largest group of shareholders -- the Walton family -- is on board with a tech-focused future, it may not be enough to offset the fears of value and dividend-oriented investors expecting steady returns, reliable capex spend, and seemingly prudent acquisitions -- pretty much the opposite of technology companies. Therefore, it's likely Walmart will not be afforded the same latitude as Amazon.

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Friday, May 18


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A Look At Wal-Mart's Q1 Takeaways And Fiscal 2019 Outlook

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Below we discuss some key takeaways from Walmart’s earnings as well as its Q2 outlook using our interactive platform. On a reported basis, the company’s revenue increased 4% year over year (y-o-y) to $123 billion, driven by growth in the domestic market due to its marketplace offerings. Walmart also posted diluted earnings per share of $0.72, down 28% y-o-y, largely due to the company’s e-commerce investments putting pressure on its bottom line.

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Walmart’s Digital Push Paid Off: Growth Accelerated in Q1

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Walmart’s (WMT) e-commerce sales were the key catalyst behind its stellar stock performance in 2017, which is why investors dumped Walmart stock soon after the company reported a deceleration in its digital sales in fiscal Q4 2018. Walmart’s e-commerce sales jumped 33.0% in fiscal Q1 2019, reflecting strong sequential growth. Walmart stood by its earlier guidance and expects its e-commerce business to record 40.0% growth in fiscal 2019.

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Walmart’s e-commerce started to bounce back in Q1 (WMT)

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This story was delivered to Business Insider Intelligence "E-Commerce Briefing" subscribers hours before appearing on Business Insider. Walmart announced its earnings for its fiscal Q1 2019 (ended April 30, 2018), reporting total revenue of $122.7 billion, up 4.4% year-over-year (YoY), a slight acceleration from its 4.1% YoY jump in Q4 FY2018. Its US grocery business helped drive its overall performance, as well as its e-commerce improvements. Walmart saw increases in the sales of fresh foods and packaged goods, bolstering its overall performance, according to The Wall Street Journal.

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Walmart Beat Q1 Earnings Estimates, but It Wasn’t Enough

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Walmart (WMT) sustained the growth momentum in its EPS and reported better-than-expected bottom-line results. Walmart’s first quarter adjusted EPS of $1.14 came in ahead of analyst expectations of $1.12 and saw YoY (year-over-year) growth of 14.0%. The graph below shows that Walmart exceeded analysts’ expectations in the past five quarters despite significant pressure on profitability from investments in growth initiatives.

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Walmart Stock Could Be Set Up for Major Rally

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Technical analyst Frank Cappelleri of Instinet, speaking on CNBC's "Trading Nation" on Wednesday, was upbeat on the world's largest retailer ahead of its first-quarter results Thursday. "Walmart is in a critical spot," said Cappelleri, who noted that WMT stock has suffered a four-month decline of nearly 20%. A drop-off of this magnitude has only occurred twice in the past 10 years for Walmart, once in 2009 and again in 2015, said the technical analyst.

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Top Research Reports for Walmart, AT&T & Novo Nordisk

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These research reports have been hand-picked from the roughly 70 reports published by our analyst team today. These trends helped Walmart post its 15th straight quarter of U.S. comps growth in first-quarter fiscal 2019, wherein earnings and sales rose year over year, with e-commerce sales up 33%. However, gross margin remains strained due to price investments and transport costs. The Zacks analyst thinks the company is likely to immensely benefit from its long-pending merger with Time Warner Inc., with the combined entity expected to become a major player in the consolidated telecom-media space. Although the matter remains sub judice, the company is likely to go on the offensive to seek a verdict in its favor. However, AT&T’s profitability has been hurt with spectrum crunch in a saturated wireless market. In December 2017, the company received approval for Ozempic (semaglutide) for the treatment of type II diabetes, which was an important approval for the company. However, the Zacks analyst thinks continued growth from Victoza and Tresiba as well as higher contributions from Saxenda and Xultophy will be partly offset by the impact of lower realized prices in the United States, loss of exclusivity for products in hormone replacement therapy, intensifying competition within the diabetes and biopharmaceutical markets and unfavorable macro conditions in several international markets.

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Why Walmart Stock Fell despite Many Positives in First Quarter

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Walmart (WMT) reported better-than-expected fiscal Q1 2019 results (the quarter ended April 30, 2018) on May 17. Walmart’s top-line and bottom-line results came in ahead of analysts’ expectations and saw YoY (year-over-year) improvement. The company saw continued strength in its US business, its largest business segment by sales and profitability.

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Dow 30 Stock Roundup: Walmart, Cisco, Home Depot Beat on Earnings - May 18, 2018

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Notably, healthcare stocks were down initially following the news that President Trump unveiled his new healthcare plan. However, the broad market recovered later after the announcement was not followed up by stringent measures. Energy and tech stocks were major drivers of the U.S. stock markets. In particular, retail stocks gained on strong sales data of April and Macy’s Inc.’s M first-quarter earnings report. Net sales grew 4.4% to $24,947 million from $23,887 million in the year-ago quarter. However, the top line lagged the Zacks Consensus Estimate of $25,202 million.

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With Flipkart and India, Walmart Needs 1 Thing From Investors: Patience

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The timing of this theme week, for me, at least, for the consumer and retail sector, couldn't be any better, given the huge news in consumer and retail that we've been processing the last few days. And that's the deal announced between Walmart and Flipkart. Before we go any further, I think the next thing we need to do is really lay out for listeners what Walmart is getting for this $16 billion check that it's writing. Asit, can you tell us a little bit more about Flipkart, the market in India, and what makes it such an attractive buyout target for any big retailer that's eyeing this region? Also, he mentioned $2 billion in cash, so there's new equity coming into this deal. Aside from buying out the first $14 billion from previous investors, Walmart is pumping that $2 billion of additional money in, of course, to have even wider sales and try to compete. But looking at the total picture and the opportunity here for Flipkart, I do want to say that it has some things figured out in a way that Amazon is still learning. If you've ever had the opportunity to travel to India and live there for a while, maybe in one of the big cities, you've probably seen that it's already a delivery-oriented culture. In terms of the war chest for these companies, prior to this Walmart deal, Flipkart's estimated to have raised about $7.5 billion from other investment and funding rounds. As of August last year, the company said that they had about $4 billion on their balance sheet to grow operations in India. But on a monthly basis, I found an interesting number where Amazon is burning through about $35 to $40 million every month in this market, while Flipkart is at about half that, $17 to $18 million, as they've had to rein in their spending a little bit.

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