Wal-Mart Stores Inc., the world’s biggest retailer, cut its annual earnings forecast for the year, hurt by currency fluctuations and a high-profile pay bump for U.S. employees.
The company now expects profit of $4.40 to $4.70 a share this fiscal year, which runs through January, according to a statement on Tuesday. Wal-Mart had previously forecast earnings of as much as $5.05 a share. The outlook sent the shares on their biggest intraday decline in almost three months.
16:49 Brent Oil Jumps to Highest in More Than a Year After OPEC Accord17
13:12 Putin Wants to Work With Trump as Equals to Restore Relations13
16:37 Wu-Tang Clan U-God Sues RZA and the Whole Clan For $2.5 MILLION!12
15:40 Oil Jumps After OPEC Agrees to First Production Cut Since 200810