U.S. stocks were mostly lower, with the Nasdaq Composite falling more than 200 points on Tuesday.

Walmart Inc. (WMT) shares surged as the retail giant reported better-than-expected fourth-quarter financial results, exhibiting an impressive resilience amidst the volatile market conditions.

Walmart’s fourth-quarter FY24 net sales grew by 5.7% year-over-year to $173.39 billion, surpassing the consensus of $170.71 billion. Furthermore, the company’s adjusted EPS stood at $1.80, exceeding the consensus of $1.65.

Notably, Walmart declared an annual cash dividend for fiscal year 2025 of 83 cents per share on a post-stock split basis or $2.49 per share on a pre-split basis, signifying a substantial 9% increase from the last fiscal year’s dividend of $2.28 per share.

The market responded positively to the news, propelling Walmart shares to a 4.9% increase, reaching $178.66 on Tuesday.

Several other prominent stocks also marked gains during the trading session, including Armstrong World Industries (AWI), Owens & Minor (OMI), Iovance Biotherapeutics (IOVA), and more.

• Iovance Biotherapeutics, Inc. (IOVA) shares soared 37% to $12.55, following the U.S. Food and Drug Administration’s approval for the commencement of analytical testing and manufacturing of AMTAGVI for the company at the WuXi Advanced Therapies site in Philadelphia.
• Phathom Pharmaceuticals, Inc. (PHAT) witnessed a 15.1% surge, reaching $10.70.
• VIZIO Holding Corp. (VZIO) rose by 14.8% to $10.94 after announcing an acquisition agreement with Walmart.
• Discover Financial Services (DFS) shares climbed 12% to $13.00, fueled by Capital One Financial Corp’s announcement of its plans to acquire Discover Financial Services in a momentous $35.3 billion all-stock transaction.
• Barclays PLC (BCS) gained 11.7% to $8.35, triggered by the company’s optimistic fourth-quarter financial results and its intention to initiate a further share buyback of up to £1 billion.
• Korea Electric Power Corporation (KEP) rose by 10.7% to $8.74
• Qurate Retail, Inc. (QRTEA) surged 10.6% to $1.15.
• InterContinental Hotels Group PLC (IHG) witnessed an 8.3% increase, reaching $105.83.
• Armstrong World Industries, Inc. (AWI) jumped 8.1% to $113.63 following upbeat results.
• Telephone and Data Systems, Inc. (TDS) rose by 7.7% to $15.13, bolstered by the company’s recent fourth-quarter financial results and issuance of FY24 guidance.
• Owens & Minor, Inc. (OMI) recorded a 7.7% gain, reaching $22.84 post its better-than-expected fourth-quarter earnings and issuance of 2024 guidance.