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Luke Kawa

Walmart’s reign atop the revenue leaderboard poised to pass to Amazon, barring an epic quarter

Walmart has ruled the roost when it comes to revenue generation by an S&P 500 company.

But it may be officially cede that crown when the retailer reports its results on February 20.

The brick-and-mortar retail giant with a big e-commerce footprint is on the verge of being surpassed by an e-commerce giant with a big cloud business. In its most recent quarter, Amazon booked nearly $188 billion in sales, with President and CEO Andy Jassy hailing the holiday shopping season as its “most successful yet.”

Analysts surveyed by Bloomberg anticipate that Walmart’s revenues will come in around $180 billion.

The best projection of the bunch calls for $182 billion in sales. Walmart would need to exceed the consensus estimate by about 4.4% in order to maintain its top spot on the top line. Over the past decade, Walmart has beaten revenue expectations by that much or more only once: in the first quarter of 2022, when its sales figure was 4.81% above the consensus forecast.

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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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