- GRIT
- Posts
- Walmart Earnings Are Here
Good Morning!
Happy Thursday! It is almost Friday:
👉CPI numbers are in
👉Walmart earnings are here
👉Cisco cuts jobs
CPI: Numbers Are In
Inflation rose as expected in July, driven by higher housing costs. The Consumer Price Index (CPI) was up 0.2% for the month and 2.9% annually, aligning with predictions. Core inflation, excluding food and energy, also matched expectations, rising 0.2% for the month and 3.2% over the year.
Source: Fox
While most food prices stayed stable, eggs saw a big jump of 5.5%. Car prices dropped, but insurance and rent costs remained high. With inflation nearing the Fed’s 2% target, all eyes are on the Fed's September meeting, where they’ll decide whether to cut interest rates. The mixed signals from the labor market could play a big role in that decision.
🎯GRIT TAKE: If the labor market shows…upgrade to VIP now to read the full GRIT Take!
EARNINGS: Walmart
Walmart just posted solid results, with revenue up nearly 5%, thanks to more customers shopping in-store and online. They raised their full-year forecast, expecting sales to grow between 3.75% and 4.75% and earnings per share to hit $2.35 to $2.43.
Source: Walmart
While Walmart beat expectations this quarter, the second half might be a bit slower, with their Q3 earnings forecast slightly below what analysts hoped. Overall, general merchandise sales turned positive for the first time in 11 quarters. U.S. comparable sales grew by 4.2%, Sam’s Club sales were up 5.2%, and e-commerce jumped 22%. Overall, Walmart is holding strong but remains cautious about the coming months.
EARNINGS: Cisco
Cisco shares jumped in extended trading on Wednesday after the company announced a 7% global workforce reduction and reported better-than-expected quarterly results. This restructuring will result in $1 billion in pretax charges, with $700-$800 million recognized this quarter. This follows a 5% workforce cut earlier this year.
Source: CNBC
Cisco's core networking business continues to decline, with revenue dropping 10% in Q4, marking its first annual sales decline since 2020. However, increased subscription revenue from the $28 billion Splunk acquisition helped offset some losses. Net income for the quarter fell 45% to $2.2 billion.
Chart of the Day
📊 U.S. CPI
Source: CNBC
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @wallstreetoasis
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy
If you have any questions please contact us at info@gritcap.io
Reply