Walmart Stock Hits Record High on Beat-and-Raise

The report is helping lift the Dow today

Laura McCandless

Deputy Editor

Aug 15, 2024 at 10:33 AM

Walmart Inc (NYSE:WMT) stock is gapping to record highs today, after the retail giant posted better-than-expected second-quarter earnings of 67 cents per share and revenue of $169.34 billion. The company also lifted its full-year forecast, though noting it was more cautious about the second half of the year.

As the largest U.S. retailer, Walmart earnings are injecting some optimism into the market today, alongside strong U.S. retail sales data. WMT isn't the only outperformer on the Dow Jones Industrial Average (DJI) either, with Cisco Systems (CSCO) staging a massive post-earnings bounce as well.

At last glance, Walmart stock was up 6.3% at $72.98, earlier hitting a fresh all-time high of $74.44. WMT is up 39% since the start of the year.

Over in the options pits, WMT has seen 190,000 calls and 63,000 puts exchanged so far, which is 9 times its average daily options volume. Expiring tomorrow, the August 75 call is the most popular contract, while new positions are being opened at the September 80 call.

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