Walmart, the largest brick-and-mortar retailer in the U.S., saw its shares fall 9% after reporting second-quarter revenue that exceeded estimates but same-store sales growth of only 2.6%, below the 3.5% expected by analysts. Additionally, the company's earnings per share guidance for the fiscal third quarter and full year also fell short of expectations.
In contrast, Deere's shares surged nearly 9% after the company reported fiscal third-quarter earnings of $5.10 per share on revenue of $11 billion, significantly beating the LSEG consensus estimates of $4.70 per share and $10.73 billion in revenue.
Deere also raised its lower end of net income guidance for the full year to between $4.75 billion and $5 billion, compared to the FactSet consensus estimate of $4.88 billion.
Other notable movements included Webull, which gained over 4% after reporting adjusted operating income of $62.6 million, surpassing expectations, and a rise in crypto-related stocks following a push for crypto-friendly legislation. Conversely, Moderna's shares plunged 25% after a significant rise the previous day due to positive trial results for a skin cancer vaccine.
Advance Auto Parts and Coty both faced declines of 25% and 9%, respectively, due to mixed quarterly results and larger-than-expected losses. Overall, these stock movements highlight the varying performance across sectors and the impact of earnings reports on investor confidence