Home Business Wal-Mart Shares Slide on Lower Earnings Forecast

Wal-Mart Shares Slide on Lower Earnings Forecast

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Wal-Mart shares fell 10% in afternoon trading after the company warns earnings will be below forecasts.

The stores giant warned the strong dollar would leave profits $15 billion under target.

Elsewhere shares on Wall Street were slightly ahead at open, as the company earnings season begins.Walmart earnings September 2015

Not long after open the Dow Jones stood at 17,103.40, up 21.51 points, or 0.13%. The NASDAQ index gained 3.90 points, or 0.08%, to 4800.51 points.

The S&P 500 gained 1.35 points, or 0.07%, to 2,005.04 points.

Meanwhile, the US Department of Commerce reported US retail sales for September were up by just 0.1% from August.

Among the Dow Jones winners was Bank of America, up by 2.14% after reporting a quarterly profit of $4.1 billion.

Other winners included Eli Lilly, Newmont Mining, Peabody Energy and Delta Airlines.

Among the losers was JP Morgan Chase, behind by 2.07% after profit missed analyst expectations.

Wells Fargo also fell 1.9% after reporting results.

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

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