Markets News 

Walmart shares surge as holiday sales crush estimates, boosted by e-commerce growth

“Walmart said that, for the year, it achieved e-commerce sales growth of 40 percent, which it had been targeting” writes Lauren Thomas for cnbc.com. Net sales growth is predicted to be at least 3 percent, hurt by deconsolidation of Walmart’s Brazil operations and reduced tobacco sales at Sam’s Club.The company is, meanwhile, targeting e-commerce sales growth of 35 percent for fiscal 2020, which won’t be as robust as what it was able to achieve last year.Walmart shares were up about 4 percent in premarket trading on the news.CEO Doug McMillon…

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Walmart shares rise after earnings and revenue beats expectations

“Walmart expects fiscal 2020 U.S. same-store sales growth of 2.5% to 3% and Sam’s Club same-store sales growth of 1%” writes Tonya Garcia for marketwatch.com. WMT, +1.49% shares rose nearly 5% in Tuesday premarket trading after the retail giant reported fiscal fourth-quarter earnings and revenue that beat expectations. Source: marketwatch.com

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European markets struggle as investors respond to HSBC and BHP earnings

“European stocks were down on Tuesday, as investors responded poorly to earnings from HSBC and BHP Group while trade negotiations between the U.S. and China continue in Washington” writes Emily Horton for marketwatch.com. The markets mainly reacted to the latest set of company earnings from heavyweights HSBC Holdings PLC HSBC, +1.01% HSBA, -3.98% HSBA, -3.98% and the world’s largest listed miner by market value BHP Group BHP, -1.03% HSBC Holdings PLC HSBC, +1.01% HSBA, -3.98% reported lower than expected fourth-quarter profits, leading to a 3% drop in the share price.Results…

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Europe’s largest bank, HSBC, misses expectations in 2018 earnings

“Europe’s largest bank, HSBC, said on Tuesday that 2018 net profit came in below expectations following a challenging fourth-quarter when markets globally experienced a sharp sell-off and reduced activity” writes Yen Nee Lee for cnbc.com. The bank’s reported pre-tax profit for the whole of 2018 was $19.89 billion, 15.9 percent higher than the previous year.Hong Kong is a key market for HSBC, accounting for around one-third of overall revenue in the first nine months of 2018.The London-headquartered bank was expected to record a 23.8 percent jump in reported pre-tax profit…

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Anglo American Platinum earnings leap

“Anglo American Platinum said it has increased its dividend payout ratio to 40% of headline earnings from 30% previously” writes Adam Clark for marketwatch.com. Anglo American Platinum Ltd. (AMS.JO) said Monday that its earnings almost doubled in 2018 and it hiked its dividend, after benefiting from increased production and rising platinum-group metal prices.The mining company, which is majority owned by Anglo American PLC (AAL.LN), said its headline earnings per share came to 28.93 rand ($2.05), up 95% from the prior year.Headline earnings rose to ZAR7.59 billion from ZAR3.89 billion. Source: marketwatch.com

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Asia has ‘mitigating factors’ to counter a global growth slowdown, says bank CEO

“Global growth is expected to slow in the coming months, but Asian economies could hold up reasonably well, thanks to several “mitigating factors,” according to the chief executive of Southeast Asia’s largest bank” writes Yen Nee Lee for cnbc.com. Gupta noted that Asia is still projected to grow at 5.5 percent to 6 percent this year despite the overall softer global environment.In addition, the U.S. Federal Reserve holding back from raising interest rates further is good news for Asia, said Steve Cochrane, chief Asia Pacific economist at Moody’s Analytics.Several central…

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PepsiCo Q4 2018 Earnings Conference Call Transcript

“We believe with added capacity, Frito will be even better positioned to capture new growth opportunities” writes Motley Fool Transcribing for businessinsider.com. Good morning, and welcome to PepsiCo’s fourth-quarter 2018 earnings conference call. [Operator instructions] Today’s call is being recorded and will be archived at www.pepsico.com.So the growth opportunities for Frito are multiple.And the process started with, let’s see how we can refocus the discretionary funds that we have in each one of our business against the growth opportunities. Source: businessinsider.com

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Stocks post strong finish as optimism over trade talks grows

“Wall Street has been encouraged by the signals that Chinese and U.S. officials have sent in the latest round of trade talks that began Monday” reports thebusinessjournal.com. Two days of trade talks wrapped up Friday in Beijing.(AP) — The Dow Jones Industrial Average surged more than 400 points Friday as renewed optimism over trade talks between the U.S. and China put investors in a buying mood.Economists said this week’s two days of talks were too brief to resolve the sprawling dispute that extends to cyber-spying and China’s trade surplus. Source: thebusinessjournal.com

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Walmart ‘holding its own’ against Amazon ahead of earnings report

“Based on the firm’s data, Walmart surpassed Apple to become the No. 3 internet retailer, behind only Amazon and eBay” writes Lauren Thomas for cnbc.com. That’s something Amazon has largely been able to get away with, more than other retailers like Walmart and Target.Analysts are expecting Walmart to report adjusted earnings per share of $1.33 for the fiscal fourth quarter with sales of $138.7 billion, according to a poll by Refinitiv.Walmart is set to report quarterly earnings Tuesday morning before the bell. Source: cnbc.com

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