Walmart's Poor Q1 Earnings Drags Down the Dow; GM Recalls 3 Million More Vehicles
All three U.S. stock indices ended the day lower, with the Dow Jones being dragged down by Walmart (WMT). Walmart revealed a disappointing earnings report today, reporting that the retailer's net income dropped by 5% in the first quarter. The mega-retailer sites that the harsh winter weather greatly impacted their earnings report. It seems like General Motors (GM) learned from its previous mistake and issued a recall of nearly 3 million cars and trucks, before any deaths occurred.The majority of the vehicles, 2.7 million, are in the United States.
Word on the Street
- Microsoft's (MSFT) new CEO has drastically changed the company.
- There was a 0.3% increase in consumer prices in April.
- Walmart's (WMT) net income fell 5% in Q1.
- More cities and states are raising the minimum wage.
- Should Apple (AAPL) have bought Telsa (TSLA) instead of Beats?
- Comcast (CMCSA) sets data limits for its customers.
- Cisco (CSCO) stock gains on third quarter results.
Published on May 15, 2014By InvestorGuide Staff