Walmart Shares Drop, Tuesday Trading in Focus
Walmart shares closed Friday at $120.27, down 0.9%, after a strong quarter failed to ease investor concerns about fuel costs and a cautious profit outlook. The retailer’s revenue rose 7.3% to $177.8 billion, but second-quarter earnings guidance missed expectations. U.S. markets will be closed for Memorial Day, leaving Tuesday as the next trading session. Senior executives Tom Ward and Cedric Clark are departing amid a strategy shift.