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Walmart’s Surging Stocks and Its Impact on the Market Walmart’s Surging Stocks and Its Impact on the Market

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.
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