BLReed
Sergeant Major
- Joined
- Nov 22, 2009
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USA TODAY
Walmart (WMT) stunned investors in a bad way with its earnings forecast Wednesday. If there's a winner from the giant's pain - it's online retailer Amazon (AMZN).
Shares of Walmart are down nearly 9% to $60.90 on the news that growth the next three years would be an anemic 3% to 4% and profit would drop up to 12% in fiscal 2017. Shares of Walmart are now down a crushing 29% this year. Investors have seen $18 billion in market value vanish just today and $79 billion this year.
Investors looking for a reason for the nation's biggest retailers don't have to click too far: Amazon. Shares of Amazon have been one of the top performers this year - soaring 75.7%. No, that's not a typo. The online retailer's shares are enjoying a massive rally while the Standard & Poor's 500 is down 2.9% this year.
Walmart (WMT) stunned investors in a bad way with its earnings forecast Wednesday. If there's a winner from the giant's pain - it's online retailer Amazon (AMZN).
Shares of Walmart are down nearly 9% to $60.90 on the news that growth the next three years would be an anemic 3% to 4% and profit would drop up to 12% in fiscal 2017. Shares of Walmart are now down a crushing 29% this year. Investors have seen $18 billion in market value vanish just today and $79 billion this year.
Investors looking for a reason for the nation's biggest retailers don't have to click too far: Amazon. Shares of Amazon have been one of the top performers this year - soaring 75.7%. No, that's not a typo. The online retailer's shares are enjoying a massive rally while the Standard & Poor's 500 is down 2.9% this year.