Walmart Slumps, Boeing Jumps, Palantir Down as Losing Streak Continues
On this episode of Stock Movers:
- Walmart (WMT) shares fell after it's profit missed expectations for the first time in three years, due to a rise in insurance claims, legal charges and restructuring costs. Walmart raised its full-year sales guidance, with Chief Financial Officer John David Rainey saying "the consumer is resilient" and that the company continues to gain market share across all income levels.
- Boeing (BA) shares jump as the company is heading closer toward finalizing a deal with China to sell as many as 500 aircraft, according to people familiar with the matter. It's a transaction that would end a sales drought that stretches back to US President Donald Trump’s last visit in 2017.
- Palantir (PLTR) shares are down. Palntir's six-session stock-market losing streak has wiped out $73 billion in market value. The drop has given short sellers more than $1.6 billion in profits, according to data from S3 Partners LLC.
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