On Thursday, Shares of Wal-Mart Stores, Inc. (NYSE:WMT), lost -1.17% to $59.33. The stock attained the volume of 46.25 million shares.
Wal-Mart Stores, Inc. (WMT) offered its planned outlook and growth plans for the future at the company’s 22nd annual meeting for the investment community. The investments outlined recently are part of a framework designed to drive sales growth by strengthening the U.S. and e-commerce businesses. This framework is intended to enhance the experience in stores, leverage Walmart’s unique supply chain capabilities to lower costs and build deep digital relationships with customers.
Financial Outlook
The company also indicated that as a result of a stronger than anticipated impact from currency exchange rate fluctuations, it now anticipates net sales growth for the current fiscal year to be relatively flat. Not Taking Into Account the impact of currency exchange fluctuations, net sales growth would be about 3 percent for fiscal year 2016. In February, the company indicated that it predictable net sales growth of between 1 and 2 percent.
Charles Holley, Walmart’s executive vice president and chief financial officer, outlined the company’s financial precedingities for growth and detailed the investment and expansion plans for fiscal year 2017.
Wal-Mart Stores, Inc. operates retail stores in various formats worldwide. The company operates through three segments: Walmart U.S., Walmart International, and Sam’s Club. It operates discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, restaurants, apparel stores, drug stores, and convenience stores, in addition to retail Websites, such as walmart.com and samsclub.com.
Shares of Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM), dropped -1.75% to $21.95, during its last trading session, after the company posted lower than predictable revenue for the third quarter of 2015.
Revenue dropped by 4.3% year-over-year to $6.67 billion for the quarter ended September 30, while analysts surveyed by Thomson Reuters had estimated for revenue of $6.68 billion.
The integrated circuit and other semiconductors manufacturer stated earnings of 46 cents per ADR unit, beating estimates by 1 cent.
Due to a more favorable exchange rate between the NT dollar and the U.S. dollar, TSMCs third quarter revenue exceeded the high end of the guidance given in July, CFO Lora Ho said in a statement. The ramp of our 16-nanometer technologies, which started in third quarter, accelerates in fourth quarter and is predictable to contribute to fourth quarter revenue more significantly.
The stock saw its price movement on above -normal volume, as 17.80 million shares changed hands when contrast with its average daily volume of 14.00 million shares, with a year-to-date performance of 1.20%.
Taiwan Semiconductor Manufacturing Company Limited engages in the computer-aided design, manufacture, packaging, testing, sale, and marketing of integrated circuits and other semiconductor devices.
Finally, General Motors Company (NYSE:GM), ended its last trade with -0.03% loss, and closed at $33.33.
General Motors Co. on Wednesday said its global vehicle sales fell 3.1% in the third quarter, as booming sales of trucks and crossovers in the U.S. were offset by weakness in global markets such as South America, according to Market Watch.
General Motors, said it sold 2.33 million vehicles in the quarter, down from 2.41 million a year ago. A 31% decline in South America sales offset a 5.2% sales improvement in North America and 1.1% growth in Europe.
Chevrolet, its biggest brand, saw overall sales slide 9.5% to 1.08 million in the quarter. Despite the overall decline, GM said Chevrolet logged record crossover sales in the U.S. and a 16% improvement in U.S. truck sales. Market Watch Reports
The stock closed at a distance of 6.78% from 20-day simple moving average. In the last trading session, the stock’s price moved -0.46% below its 200 day moving average, changing hands as low as $33.16 per share. The stock is presently trading 9.58% above its SMA 50.
General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments.
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