Today is Tuesday, July 26, 2022.
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Walmart's Inventory Pricing
Shares of Walmart (NYSE: WMT) dropped 9.86% in after-hours trading on Monday after the retail giant revised its profit outlook “due to pricing actions aimed to improve inventory levels.”
Details: Walmart expects operating income for the second quarter and full year to decline. Adjusted earnings per share and consolidated net sales growth will drop as well decline. The company expects a headwind from currency of about $1 billion in the second quarter.
Sympathy Pains: The news also caused other retail and e-commerce stocks to drop in after-hours trading on Monday. Dicks Sporting Goods (DKS) dropped 3.71%, Amazon (Nasdaq: AMZN) fell 3.90%, and Target (NYSE: TGT) declined 5.06%.
Final Thoughts: This news from Walmart, which reports earnings on August 16, is bad for shareholders. However, lower prices are good for consumers and good for fighting inflation.
Notable Earnings Today: Alphabet (Nasdaq: GOOGL), Microsoft (Nasdaq: MSFT), United Parcel Service (NYSE: UPS), Coca-Cola (NYSE: KO), General Motors (NYSE: GM), Visa (NYSE: V), General Electric (NYSE: GE), Enphase Energy (Nasdaq: ENPH), McDonald's (NYSE: MCD), Chipotle Mexican Grill (NYSE: CMG), Raytheon Technologies (NYSE: RTX), Texas Instruments (TXN), Archer-Daniels-Midland (NYSE: ADM), Skechers (NYSE: SKX), Albertsons (NYSE: ACI), Ameriprise Financial (NYSE: AMP), Centene (NYSE: CNC), Boyd Gaming (NYSE: BYD), Kimberly-Clark (NYSE: KMB), Matador (NYSE: MTDR), 3M (NYSE: MMM), Agilysys (Nasdaq: AGYS), Boston Properties (NYSE: BXP), Chubb (NYSE: CB), Corning (NYSE: GLW), First Energy (NYSE: FE), Fiserv (Nasdaq: FISV), IDEX (NYSE: IEX), Juniper Networks (NYSE: JNPR), MSCI (NYSE: MSCI), Mondelez International (Nasdaq: MDLZ), Navient (Nasdaq: NAVI), Paccar (Nasdaq: PCAR), Polaris (NYSE: PII), PulteGroup (NYSE: PHM), Shutterstock (NYSE: SSTK), Spirit Airlines (NYSE: SAVE), Stryker (NYSE: SYK), Teradyne (Nasdaq: TER), TransUnion (NYSE: TRU), UBS Group (NYSE: UBS), Vista Energy (NYSE: VIST), Wyndham Hotels & Resorts (NYSE: WH), Xerox (Nasdaq: XRX), Zions Bancorp (Nasdaq: ZION).
Notable IPOs Today: Mobile Global Esports, Inc. (Nasdaq: MGAM).
Notable Equity Crowdfunding Campaigns Ending Today: Mobeauty Supply Vending (Honeycomb), Irie Diner (Honeycomb), Lightning Clean (StartEngine), POPS! Diabetes Care (StartEngine), Happy Cows Group Share (Honeycomb).
Notable Economic Events Today: S&P/CS HPI Composite (9:00 a.m. ET), CB Consumer Confidence (10:00 a.m. ET), New Home Sales (10:00 a.m. ET), API Weekly Crude Oil Stock (4:30 a.m. ET).
Whirlpool Survives Challenges
Shares of Whirlpool (NYSE: WHR) jumped 2.03% in after-hours trading on Monday after the manufacturer of home appliances posted mixed financial earnings results.
Financials: Whirlpool reported earnings per share of $5.97, which was better than expected. But its revenue of $5.1 billion was below estimates.
Coming Through: Despite the company’s challenging environment, which included inflation and the War in Europe, Whirlpool had good margins in North America.
Final Thoughts: Whirlpool’s stock is down 29% this year.
Equity Crowdfunding Spotlight: Airthium
Briefly describe your business. Airthium is a Y Combinator alumni company and we make a breakthrough heat engine to decarbonize industrial heat production. Industries need high-temperature heat to produce goods or materials like cement, metals, and glass.
What are the terms of the investment for your campaign? Our campaign page is on Wefunder. We are raising a $5M seed round in SAFE (YC’s convertible note) with a $42M valuation cap for the first $1.5M (early birds) and $55M cap for the remaining part.
What makes your startup special? Why will it succeed? Heat pumps are limited in temperature to 390F. Our engine reaches 1000F. There are no other solutions today to decarbonize the industrial heat market in this temperature range. We have the right team to succeed with 6 PhDs and 5 engineers.
Trends to Watch
No Weakness Here: Chia Network Reissues Its Asset Token to Address Security Vulnerability (CoinDesk)
Chip on Shoulder: NXP Semiconductors Gives Bullish Forecast on Industrial and Auto Market Demand (Bloomberg)
Putin on the Ritz: Russia to Cut Europe’s Gas Flow via Nord Stream to 20% (The Wall Street Journal)
Glut of Inventory: What happens when people want all the air fryers and then, suddenly, they don't (NPR)
Looming: Fed set to impose another big rate hike to fight inflation (ABC)
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