NEW YORK, February 6, 2026, 18:12 EST — Trading after the bell
- Walmart shares climbed 3.3% after hours and finished the week with a notable gain.
- Goldman Sachs pointed to a shift out of tech and toward “defensive” names, putting Walmart back on the radar.
- Next up for investors: Walmart’s fiscal Q4 numbers, landing Feb. 19.
Walmart Inc (WMT) picked up 3.3% in after-hours trading Friday, finishing at $131.18—a $4.24 gain over its previous close. The stock ranged from $126.03 to $131.69 during the session, with some 26.6 million shares traded.
This shift is significant. Cash has been pouring out of packed tech bets, with investors seeking safer territory amid AI-fueled turbulence that’s battered hedge funds this week. According to Goldman Sachs, the flow went straight into defensive picks—Walmart among them—driven by concerns about AI’s impact on employment. 1
Walmart faces its next hurdle soon enough. The company reports fiscal fourth-quarter earnings on Feb. 19, according to its events calendar, with a conference call set for 7 a.m. Central time. 2
The Dow topped 50,000 for the first time on Friday, lifted by a broad rally. Chip stocks ripped higher as bets on AI infrastructure spending picked up again. Amazon, though, lost ground after it warned this year’s capital expenditures would jump over 50%, Reuters noted. “I think there’s enough evidence that there’s real demand for AI products,” said Ross Mayfield, investment strategy analyst at Baird. 3
Walmart doesn’t need flashy tech plays—its draw is as a haven for investors when things turn shaky. On Feb. 19, traders will parse the update for any signs about consumer demand, and look for cues on whether Walmart’s still pushing pricing to drive foot traffic.
Amazon isn’t letting up. The company is rolling out a 225,000-square-foot grocery behemoth on the edge of Chicago, doubling as a distribution center, according to Reuters. The push is designed to chip away at Walmart’s lead, plus keep Target and Costco in its sights. Still, “It’s going to take some time for them to catch up,” S&P Global analyst Bea Chiem said. 4
The consumer landscape isn’t consistent. Newell Brands trimmed prices at Graco and Rubbermaid, reacting to softer discretionary demand. CEO Chris Peterson noted that rolling back China tariffs allowed the company to share cost savings with shoppers. But RBC analyst Nik Modi flagged a risk: “further category deterioration is a risk.” Pullbacks outside the basics still hit retailers’ richer-margin segments, even if grocery foot traffic remains steady. 5
When shoppers start trading down, Walmart tends to gain—that’s one reason it looks good during a rotation. But if risk appetite rebounds, that defensive play can unwind fast, potentially catching the latecomers off guard.
All eyes shift to Walmart, with its earnings set for release at 6 a.m. Central on Feb. 19, followed by the call an hour after. Investors will zero in on guidance, particularly anything about demand or margins. That’s what will determine if Friday’s gains have any staying power into next week. 6
