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Walmart falls after missing quarterly earnings, raising full-year sales guidance

Walmart shares fell in early Thursday trading after the retail giant missed quarterly earnings expectations for the first time in three years.

The company reported second-quarter adjusted earnings per share of $0.68, below analysts’ predicted $0.73. Sales came in above expectations at $177.4 billion, topping analyst forecasts of $175.9 billion, per FactSet.

Walmart raised its full-year sales growth guidance to a range of 3.75% to 4.75%, up from its previous range of 3.0% to 4.0% growth. Management also nudged the outlook for full-year adjusted earnings per share up by 2 cents at each end to a range of $2.52 to $2.62. The company has said that it intends to use its massive supply chain, dominant market position, and logistical expertise to keep prices low despite newly added tariffs putting upward pressure on costs.

Walmart’s stock was up 14% year to date prior to the earnings release.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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