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Omar Venerio
Omar Venerio
Articles (1153) 

US Stocks Decline Thursday

Walmart falls on financial results

The U.S. stock market traded in the red Thursday morning, fueled by disappointing results from Cisco Systems (NASDAQ:CSCO). Further, investors are looking at a seven-year high of 3.1% in the interest rate.

Shares of Walmart Inc. (NYSE:WMT) fell on Thursday after the company posted fourth-quarter earnings of $1.33 on revenue of $136.3 billion, which was 4.1% higher than the comparable period. The company beat revenue expectations by $1.39 billion, but fell 4 cents short of earnings estimates.

Further, consolidated operating income reached $4.5 billion, a decline of 28%. The company generated $28.3 billion in operating cash flow and returned $14.4 billion to shareholders via dividends and share repurchases.

Gainers

Losers

Global markets

The main European stock market indexes traded higher. The U.K.'s FTSE 100 gained 0.70%, France's CAC 40 advanced 0.98%, Germany's Dax jumped 0.91% and Spain's Ibex 35 climbed 1.04%.

In Asia, markets closed in the red. Japan's Nikkei 225 closed up 0.53%, but China´s Shanghai Composite fell 0.48%, Hong Kong's Hang Seng retreated 0.54% and India’s BSE Sensex slid 0.67%.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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