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U.S. Morning Call: Wal-Mart profit up despite sales weakness

Thursday, May 16, 2013 - 03:42

May 16 - Wal-Mart Stores posted a higher quarterly profit even as sales fell 1.4 percent at its Walmart U.S. stores open at least a year.

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Leading Thursday's morning wal mart's results shares down in the premarket to just under 78 dollars after the big daddy of retail missed earnings estimate by one cent. Sales fell nearly one half percent in US stores doing articulate income tax refund checks and the payroll tax hike. But Amazon be aware wal mart's online sales grew 30%. That's higher than last year. Now -- it wishes it had as many customers as Wal-Mart yes that Jaycee said he. This will be the first report CEO Ron Johnson was kicked out. We spoke to analysts about whether the retailer what about what retailer could do to save itself. At a boil down to getting its old customers back even if it means handing out those coupons. One thing that may help me from thinking is it's real estate all four billion dollars worth. It also -- -- reporting after the bell with overall PC sales plunging 14% it's a miracle they're reporting a profit. The question on investors' minds dealer or no deal been hard to know Carl -- every move as he hopes out at Michael Dell in taking the company private. And worth noting though several top hedge funds disclose mistaken -- for the first quarter including activist investor Jonathan Jacobson. And his notorious for pushing for improvements at the companies he invests it. But the big news out of the thirteen -- wasn't about what hedge fund got in -- it's what they got out at. Apple getting left behind by some of the world's biggest investors. She called and type global management sold 790000. Apple shares in the quarter. -- advances eighty billion dollar AQ our capital management sold off shares. And David -- apple some management reduced its stake -- apple by 40%. But it's not all bad did I -- a green light nearly doubled its stake -- apple to 2.4 million shares. Double line capitals Jeffrey gun -- also think apples of the things that Apple's goodbye. But don't short term he also said he never looks and other managers thirteen F filings you can catch that full interview on Reuters Insider. And for more on -- thirteen F filings watch our fact box in editor's picks. And got them are stuck to watch let's start with Google just look at this chart Google is hitting 922. Dollars -- -- premarket. That's more than all time high -- of yesterday at 916. Dollars are going to be keeping -- match. Even though Google is a much more riveting stock take shares of Cisco up 9% in the premarket. A bunch of brokerages raising their price target this morning after it gave brighter outlook for the current quarter. Investors who worried about weaker tech spending. -- -- And wrapping it up with a look at markets they're -- to a mixed open today yesterday it was a no other record run for the Dow and the S and paid. And on an accurate -- we've got the Consumer Price Index due out our experts at I asked are looking for a decline in April -- point 1%. -- lower prices at the pump. Also on the docket initial jobless claims and housing starts. After Thursday morning -- remembered follow us on Twitter at Reuters Insider and get more great videos at Flickr dot com slash latest. I'm Lisa Bernhard.

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U.S. Morning Call: Wal-Mart profit up despite sales weakness

Thursday, May 16, 2013 - 03:42