Walmart reported earnings yesterday of $1.30 a share. This performance is a miss of $0.18 a share. On a brighter note, the S&P500 rallied about 2% in what is likely to be a brief relief rally in an ongoing bear market.
Many stocks are down big, and investors are scouring the market for bargains. Warren Buffett, the founder, CEO & CIO of Berkshire Hathaway, is finally starting to sound some of the company’s cash hoard on stocks that look inexpensive. A few notable names are Citibank and Paramount Pictures (PARA). Both stocks got a boost on the news, and options activity has picked up in these names.
Warner Brothers Discovery (WBD) is getting some attention, but there is still a strong crosscurrent influencing the stock price. The stock of Mosaic, the big US fertilizer company, has had a substantial pullback as many institutional investors have been sellers after a considerable run in the company’s stock.
