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☆ Stocks making the biggest moves midday: Tesla, Wells Fargo, JPMorgan Chase, Fastenal and more
▼ + stars: | 2024-10-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

Third-quarter adjusted earnings were $1.52 per share, topping the $1.28 per share expected from analysts polled by LSEG. JPMorgan Chase – Shares jumped 4.7% after JPMorgan, the biggest American bank, posted third-quarter results that beat estimates for profit and revenue. BlackRock – Shares climbed 2.8% after the asset manager beat analysts' third-quarter expectations on the top and bottom lines. Bank of New York Mellon – The bank stock dropped 1%, even after the company issued a stronger-than-expected quarterly report. Analysts surveyed by LSEG were expecting $1.42 in earnings per share on $4.54 billion of revenue.

Persons: Morgan Stanley, Wells Fargo, JPMorgan Chase, Walmex –, Fastenal, FactSet, Wells, Warren Buffett's Berkshire Hathaway, Buffett, Natalie Knight, Doug Ostermann, Stellantis, Carlos Tavares, who's, LSEG, Kinder Morgan, Ferrari, BNY, —, Alex Harring, Lisa Kailai Han, Pia Singh, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: San, LSEG, JPMorgan, JPMorgan Chase –, Walmart, Apple Pay, Bank of America, Securities and Exchange Commission, Finance, BlackRock, of, Bank of New York Mellon Locations: San Francisco, LSEG .

☆ Top Wall Street analysts recommend these 3 stocks for the long term
▼ + stars: | 2024-03-03 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Wall Street analysts remain focused on the long-term prospects of stocks with solid growth potential. Here are three stocks favored by the Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. The revised outlook reflected net sales growth across regions in the holiday sales quarter, led by continued strength in the Americas. Tarlowe highlighted that Abercrombie & Fitch continues to gain market share both domestically and worldwide. Overall, the analyst sees further upside to ANF's market share, sales and earnings.

Persons: Goldman Sachs, Toshiya Hari, Hari, TipRanks, Corey Tarlowe, Fitch, Tarlowe, Hollister, Kate McShane, McShane Organizations: Wall Street, Nvidia, Data Center, Abercrombie, Fitch, Jefferies, Hollister, Walmart Locations: Americas, U.S, India, Mexico, Central America, China, TipRanks

☆ Walmex Q3 net profit jumps more than 12%, pushed by higher sales
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

The logo of Walmart is pictured outside a store in Mexico City, Mexico July 27, 2023. Walmart de Mexico, or Walmex, the biggest retailer in Mexico, posted net profit of 13.63 billion pesos ($782 million). Quarterly revenue at the chain rose 7.7% from the year-earlier period to reach 213.07 billion pesos, missing slightly the LSEG estimate of 213.34 billion pesos. Sales increased 9.5% in Mexico and 9% in Central America, with the retailer adding 24 new stores in Mexico and three in Central America, which contributed 1.6% to total revenues. Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter rose 8.5% to 23 billion pesos.

Persons: Henry Romero, Walmex, Guilherme Loureiro, Loureiro, Cofece, Valentine Hilaire, Aida Pelaez Fernandez, Brendan O'Boyle, Tom Hogue, Cynthia Osterman Organizations: Walmart, REUTERS, MEXICO CITY, Central America, Thomson Locations: Mexico City, Mexico, MEXICO, Mexican, Central America

☆ Walmart's Mexico unit to face anti-trust panel after three-year investigation
▼ + stars: | 2023-10-07 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski//File Photo Acquire Licensing RightsMEXICO CITY, Oct 6 (Reuters) - Walmart's Mexico unit said on Friday it will face an anti-trust panel for alleged relative monopolistic practices related to the supply, wholesale distribution and marketing of consumer goods. The allegations follow a three-year investigation by Mexico's antitrust regulator, Cofece, and the company now has 45 days to provide arguments and evidence in its defense. Walmart de Mexico (WALMEX.MX), known as Walmex, was first told in 2020 that it was under review for possible antitrust behavior. The retailer last year posted revenue of more than 819 billion pesos ($45 billion) from its operations in Mexico and Central America.

Persons: Kamil Krzaczynski, Walmex, Cofece, Banorte, Valentine Hilaire, Daina Beth Solomon, Stephen Eisenhammer, Sandra Maler, Edwina Gibbs Organizations: REUTERS, MEXICO CITY, Walmart, Thomson Locations: Chicago , Illinois, U.S, MEXICO, Mexico, Central America

☆ Walmart in Mexico faces anti-trust panel for alleged monopolistic practices
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

Walmart's logo is seen outside one of the stores ahead of the Thanksgiving holiday in Chicago, Illinois, U.S. November 27, 2019. REUTERS/Kamil Krzaczynski//File Photo Acquire Licensing RightsCompanies Wal Mart de Mexico SAB de CV FollowMEXICO CITY, Oct 6 (Reuters) - Walmart's Mexico unit said on Friday it will face an anti-trust panel for "alleged relative monopolistic practices" related to supply and wholesale distribution of consumer goods. Walmart de Mexico said in a statement that Mexico's antitrust regulator, Cofece, had informed the company of opening a "quasi-jurisdictional process" following a 3-year investigation. Walmex is among the biggest retailers in Mexico, with 2,890 locations in the country. Reporting by Valentine Hilaire and Daina Solomon; editing by Stephen Eisenhammer and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Kamil Krzaczynski, Valentine Hilaire, Daina Solomon, Stephen Eisenhammer, Sandra Maler Organizations: REUTERS, Wal Mart de, SAB, Walmart, Thomson Locations: Chicago , Illinois, U.S, Mexico

REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsNEW YORK, Aug 17 (Reuters) - Resilient U.S. consumer spending drove Walmart's (WMT.N) better-than-expected second-quarter results and forecast hike but its international business on Thursday posted its best quarterly performance in several years. The retail behemoth's international business, which spans 19 countries, posted a 13.3% jump in sales during the second quarter, its strongest result since at least 2016, Refinitiv data shows. The unit posted $27.6 billion in sales, or 17% of the company's quarterly revenue, beating market estimates of $26.12 billion. In India, Walmart's majority-owned business Flipkart posted double-digit sales growth and PhonePe processed more than 5 billion transactions in a single month, Walmart said. "Walmart's international business continues to perform well.

Persons: Mario Anzuoni, Walmart's, Doug McMillon, Flipkart, Judith McKenna, McKenna, Kathryn McLay, Jason Benowitz, Siddharth Cavale, Aishwarya Venugopal, Vanessa O'Connell, Mark Porter Organizations: Walmart, REUTERS, Reuters Graphics, Unilever, Caterpillar, Sam's, Walmart International, Walmart's Sam's, Thomson Locations: Rosemead , California, U.S, Canada, United States, Mexico, India, China, New York, Bengaluru

Despite these challenges, Walmart International has performed strongly under McKenna's leadership, under which it exited poorly performing operations in Japan, Britain, Argentina and Brazil. McKenna has led Walmart International since 2018, overseeing a multi-year transformation that resulted in the unit delivering more growth and stronger financial results across the board, Walmart CEO Doug McMillon wrote in a memo to employees. Sam's Club, a rival to Costco (COST.O), for years had been an underperforming business with muted sales growth. Sam's Club, a business unit with $84 billion of yearly revenue, has posted 12.7% average annual comparable sales growth since McKay took over the division, according to a Reuters calculation. Walmart also announced that Christopher Nicholas, currently chief operating officer of Walmart U.S., would replace McLay as CEO of Sam's Club.

Persons: Mario Anzuoni, Kathryn McLay, Judith McKenna, McKenna, Doug McMillon, Piper Sandler, McKay, she's, Edward Jones, Brian Yarbrough, Christopher Nicholas, Ananya Mariam Rajesh, Siddharth Cavale, Anil D'Silva, Sandra Maler, Jamie Freed Organizations: Walmart, REUTERS, Walmart Inc, Walmart International, Sam's, Woolworths, Sam's Club, Costco, Walmart U.S, McLay, Jan, Thomson Locations: Rosemead , California, U.S, China, Mexico, South Africa, Japan, Britain, Argentina, Brazil, India, Walmart's U.S, Walmart Mexico, Bengaluru, New York

☆ Walmart Mexico posts slightly higher profit amid June sales uptick
▼ + stars: | 2023-07-27 | by ( Carolina Pulice | ) www.reuters.com time to read: +2 min

MEXICO CITY, July 27 (Reuters) - Walmart's Mexico and Central America unit on Thursday posted a 5% year-on-year rise in its second-quarter net profit, boosted by slightly higher sales especially in June, though earnings were slightly behind forecasts. Walmart de Mexico (WALMEX.MX), the largest retailer in Mexico, posted a net profit of 11.44 billion pesos ($668 million). The company posted a profit of 0.66 pesos a share, just below the Refinitiv estimate of 0.69 pesos. Same-store sales increased 8.5% in Mexico and 9.5% in Central America, and the firm expanded its physical footprint with 22 new stores in Mexico. Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter rose 8.5% to 21.9 billion pesos.

Persons: Paulo Garcia, Guilherme Loureiro, Monex, Loureiro, Carolina Pulice, Noe Torres, Kylie Madry, Lincoln, Christopher Cushing Organizations: MEXICO CITY, Central America, Walmart, America, Thomson Locations: MEXICO, Mexico, Central, Central America

Walmart de Mexico (Walmex) (WALMEX.MX) in April said it had bought Trafalgar, a payment app, to compete in a market dominated by Grupo Salinas' Baz, Oxxo's (FEMSAUBD.MX) Spin and MercadoPago of MercadoLibre (MELI.O). Executives at the Walmart unit expect the deal to "unlock Cashi's potential," starting with transfers, withdrawals and remittances while keeping open the option of loans and other financial services in the future. "We want to be the best financial services application in Mexico, and that requires constant investment," Marcelino Herrera, Walmex senior vice president of financial services, told Reuters. Walmart plans over $15 billion in capital expenditures for automation and alternate revenue streams in 2023, including its ad business, third-party marketplace, and deliveries. SYNERGIESWalmart has not defined fintech as a top investment priority but has poured money into it over the past year.

☆ Walmart in Mexico sees net profit rise in first quarter, yet trails competitors
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

April 26 (Reuters) - Walmart's Mexico unit (WALMEX.MX) on Wednesday posted a 3.7% rise in first quarter net profit as same-store sales rose in all markets, but it flagged inflation concerns after falling behind competitors in Mexico. Walmart de Mexico, known as Walmex, recorded 11.5 billion pesos ($639 million) in net profit for the first three months of the year, missing a Refinitiv estimate of 12.3 billion pesos. The company said changes in how taxes were calculated in a Central American country hit net profit, which otherwise would have grown 15.6%. Both Mexico and Central America posted same-store sales growth, with revenue up 9.7% from a year earlier to land at 206 billion pesos. Walmex's earnings before interest, taxes, depreciation and amortization (EBITDA) grew 7.7% to 22.31 billion pesos.

☆ Walmart Mexico's profit edges up as it adds new stores
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

April 26 (Reuters) - Walmart's Mexico unit (WALMEX.MX) on Wednesday posted a 3.7% rise in its net profit for the first three months of 2023, rising to 11.5 billion pesos ($639 million), as it expanded its footprint with 12 new stores over the quarter. The company, known as Walmex, posted a first quarter revenue up 9.7% from a year earlier, landing at 206.07 billion pesos. Walmex's earnings before interest, taxes, depreciation and amortization (EBITDA) meanwhile grew 7.7% to 22.31 billion pesos, with same-store sales up 12.4% in Central America and 8.7% in Mexico. "New stores contributed 1.4% to total sales growth," Walmex said in a statement. ($1 = 18.0201 pesos at end-March)Reporting by Carolina Pulice; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Walmart to invest nearly $1.5 bln in Mexico and Central America in 2023
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, March 7 (Reuters) - Walmart's unit in Mexico and Central America, known as Walmex (WALMEX.MX), plans to spend around 27 billion pesos ($1.49 billion) in the region in 2023, it said on Tuesday. Just under half of the investment will go to remodeling and maintaining existing stores, while nearly 30% will go to new stores and clubs, Walmex said in a filing following an event with investors and analysts. ($1 = 18.1026 Mexican pesos)Reporting by Kylie Madry; Editing by Daina Beth SolomonOur Standards: The Thomson Reuters Trust Principles.

☆ Emerging markets are getting attention. Morgan Stanley names the 'highest quality' stocks to play it
▼ + stars: | 2023-02-09 | by ( Zavier Ong | ) www.cnbc.com time to read: +4 min

Emerging market stocks are piquing investor interest. Against that backdrop, Morgan Stanley named a raft of EM stocks it says are of the "highest quality" and are trading at reasonable prices. Morgan Stanley said valuations look "attractive" for the 29 stocks that turned up on its screen. Morgan Stanley likes Alibaba as a play on China's reopening and consumption recovery. Singapore-based utilities firm Sembcorp Industries is another Morgan Stanley favorite.

☆ Walmart's net profit rises 10% in Mexico, even as expenses climb
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Oct 20 (Reuters) - Walmart's Mexico unit on Thursday posted a 10% jump in third-quarter net profit, tracking analyst estimates, while expenses grew faster than revenue due to higher e-commerce and labor costs, the company said. Walmart de Mexico (WALMEX.MX), the biggest retailer in Mexico, posted a net profit of 12.15 billion pesos ($603.8 million), or 0.70 pesos a share, compared with the Refinitiv estimate of 0.69 pesos. The company known as Walmex said e-commerce makes up 4.8% of total Mexico sales, up from 4.5% a year ago. "The current environment requires a lot more focus and attention than the day-to-day business typically does," said Chief Executive Guilherme Loureiro in the results webcast. Annual inflation hit 8.76% in the first half of September.

☆ Walmart's Mexico unit sees quarterly net profit rise 10%
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Oct 20 (Reuters) - Walmart's Mexico unit on Thursday said its third-quarter net profit rose 10% from the year-earlier period, helped by strong same-store sales as the retailer works to keep prices low at a time of swelling inflation. Walmart de Mexico (WALMEX.MX), the biggest retailer in Mexico, posted a net profit of 12.15 billion pesos ($603.8 million). The quarterly revenue of 197.89 billion pesos equated to a 12.4% rise from the prior July-to-September period. The company known as Walmex said in a statement it opened 26 stores in the quarter in Mexico and Central America, and invested in its e-commerce business, which now makes up 4.8% of total sales in Mexico. ($1 = 20.1271 pesos at end-September)Register now for FREE unlimited access to Reuters.com RegisterReporting by Daina Beth Solomon and Noe Torres; Editing by Cassandra Garrison and Will DunhamOur Standards: The Thomson Reuters Trust Principles.

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