Walmart startled investors on Wednesday by slashing its sales forecast for the year, warning that heavy investments in wages and in e-commerce would curb future earnings.
The news sent Walmart shares plunging, casting a pall over retail stocks, as analysts worried about broader ripple effects across the economy, and about consumer spending ahead of the holiday season.
13:48 Wells Fargo Profit Falls 5.4% as Mortgage Revenue Declines24
13:16 Wells Fargo earnings: 96 cents per share, vs. expected EPS of $122
10:27 India's Tata Consultancy third-quarter net up 10.9 percent, beats estimates20
12:23 Sterling volatile as market speculates on ‘hard Brexit’; investors await May's speech15