Core Viewpoint - First Tellurium Corp. has appointed Major General Elder Granger to its Advisory Board to assist in expanding the market for PyroDelta's thermoelectric technology, particularly in governmental and defense sectors [2][3]. Company Overview - First Tellurium Corp. is focused on developing tellurium-based technologies, mineral discovery, project development, and project generation. The company is listed on the Canadian Securities Exchange under the symbol "FTEL" and on the OTC under "FSTTF" [6]. Appointment of Major General Elder Granger - Major General Elder Granger, a retired U.S. Army officer with extensive experience in military health systems, will provide strategic guidance to First Tellurium and PyroDelta Energy [2][3]. - Granger previously managed a Defense Health Program budget of $22.5 billion and oversaw healthcare for 9.2 million beneficiaries globally [3]. Strategic Goals - The company aims to leverage Granger's expertise to penetrate new markets and enhance its position in the thermoelectric technology sector [4][5]. - Granger expressed enthusiasm about helping First Tellurium and PyroDelta establish leadership in thermoelectrics [4]. Leadership and Experience - Granger has held significant leadership roles in various military medical commands and has received over 30 military and community service awards [5].

Core Insights - Walmart reported adjusted earnings of 62 cents, a 7% increase, exceeding analysts' expectations, with revenues of $179.5 billion, up 5.8% year-over-year, also above estimates [1] - The company raised its full-year sales and earnings forecast for the second time, expecting revenue growth between 4.8% and 5.1% and earnings in the range of 258 to 263 cents [1] - US comparable store sales grew by 4.5%, surpassing the 4% estimate, marking the 45th consecutive quarter of growth, with e-commerce sales increasing by 28% in the US [1] Financial Performance - Adjusted operating income is projected to grow between 4.8% to 5.5%, up from a previous forecast of flat [1] - Operating income for the quarter decreased by 0.2% due to a one-time compensation charge related to the planned public offering of its phone pay business [1] - Walmart's advertising business, Walmart Connect, saw a growth of 33% in the US and 53% globally [1] Consumer Behavior - Consumers across all income levels are opting for faster delivery services, with a 70% year-over-year increase in revenue from this segment [2] - Even lower-income consumers are utilizing expedited delivery options, indicating a shift in consumer preferences towards convenience [2][3] Market Position - Walmart is gaining market share among higher-income shoppers, with notable growth across all income cohorts [3] - The company plans to move its stock listing from the New York Stock Exchange to NASDAQ on December 9, maintaining its ticker symbol WMT [3][4] Leadership Transition - Doug McMillan, the current CEO, will retire after nearly 12 years, with John Ferner set to take over, who has been instrumental in the company's current success [5][6] - The leadership change is seen as a strategic move to ensure continuity and retain talent within the organization [7]

Core Insights - Walmart raised its full-year sales and earnings outlook following stronger-than-expected fiscal third-quarter results driven by double-digit e-commerce growth and a continued influx of customers [1] Financial Performance - The fiscal third-quarter results exceeded expectations, indicating robust performance in sales and earnings [1] - E-commerce growth was a significant contributor, showcasing a double-digit percentage increase [1] Outlook - The company has adjusted its full-year sales and earnings forecast upwards, reflecting confidence in continued growth [1]

Core Insights - Walmart Inc. raised its outlook after exceeding Wall Street expectations, driven by strong e-commerce performance and increased sales across various categories despite a cautious consumer environment [1] Financial Performance - Walmart reported revenue of $179.5 billion for the three-month period ending on October 31, surpassing Wall Street's projection of $177 billion and reflecting a 6% increase year-over-year [1] - Total sales for Walmart U.S. increased by 5.1% to $120.7 billion, with online sales rising by 28%, marking the seventh consecutive quarter of over 20% e-commerce growth [2] - Comparable store sales in the U.S. rose by 4.5%, driven by more shoppers and larger purchases, with transactions up 1.8% and the average spend per trip increasing by 2.7% [3] Market Trends - The company is gaining market share among higher-income consumers seeking value, a trend observed over several quarters [5] - Sales in health, grocery, and general merchandise categories increased, with general merchandise sales rising despite a general decline in discretionary spending [5] Future Outlook - For fiscal 2026, Walmart expects net sales growth between 4.8% and 5.1%, an increase from the previous forecast of 3.75% to 4.75% [6] - Adjusted operating income is anticipated to rise by 4.8% to 5.5%, compared to the earlier range of 3.5% to 5.5%, and adjusted earnings per share are projected to be between $2.58 and $2.63, up from $2.52 to $2.58 [8] Corporate Developments - Walmart announced the transfer of its common stock listing from the New York Stock Exchange to Nasdaq, effective December 9, under the ticker symbol "WMT" [9] - The CFO stated that this move aligns with the company's tech-driven strategy, emphasizing the integration of automation and AI to enhance customer experiences and operational efficiency [12]

Core Points - Walmart Inc. will transfer its common stock listing to Nasdaq, expected to begin trading on December 9, 2025, under the ticker symbol "WMT" [1][2] - The move to Nasdaq reflects Walmart's alignment with a technology-driven approach and commitment to innovation [2][3] - Walmart will also transfer the listing of nine bonds to Nasdaq, enhancing its presence in the capital markets [2][4] Company Overview - Walmart is a tech-powered omnichannel retailer with fiscal year 2025 revenue of $681 billion and approximately 2.1 million associates worldwide [4] - The company serves around 270 million customers weekly across more than 10,750 stores and various eCommerce platforms in 19 countries [4] - Walmart continues to lead in sustainability, corporate philanthropy, and employment opportunities [4]

Core Insights - Walmart reported a revenue growth of 5.8%, or 6.0% in constant currency, reaching $179.5 billion [1][4] - Global eCommerce sales increased by 27%, driven by store-fulfilled pickup & delivery and marketplace [4] - The company raised its outlook for fiscal year 2026 [1] Financial Performance - Operating income decreased by 0.2%, but adjusted operating income rose by 8.0% in constant currency [1][4] - GAAP EPS was $0.77, while adjusted EPS was $0.62, excluding certain non-cash charges and gains [1][4] - Gross margin rate increased by 2 basis points, primarily due to Walmart U.S., partially offset by international operations [4] Business Segments - Global advertising business grew by 53%, with Walmart Connect in the U.S. up by 33% [4] - Membership and other income rose by 9.0%, including a 16.7% increase in membership income [4] Company Overview - Walmart operates approximately 10,500 stores and numerous eCommerce websites across 19 countries, serving around 255 million customers weekly [3] - The company had a fiscal year 2024 revenue of $648 billion and employs approximately 2.1 million associates globally [3]

Core Insights - The retailer experienced a 4.5% increase in comparable sales, driven by market share gains across various income groups as consumers sought out deals [1] Group 1 - Comparable sales rose by 4.5% [1] - Market share gains were observed across different income groups [1] - Consumer behavior indicated a preference for seeking out deals [1]

Revenue and Sales Performance - Revenue of $179.5 billion, up 5.8%, or 6.0% in constant currency (cc) [8] - Global eCommerce sales grew 27%, driven by store-fulfilled pickup & delivery and marketplace [8] - Walmart U.S. comp sales increased by 4.5%, with operating income up 6.3% to $5.8 billion [18] - Net sales for the three months ended October 31, 2025, were $177.769 billion, representing a 5.8% increase from $168.003 billion in the same period of 2024 [34] - Total revenues for the nine months ended October 31, 2025, reached $522.507 billion, up 4.4% from $500.431 billion in 2024 [34] - Walmart U.S. net sales for the nine months ended October 31, 2025, reached $353,752 million, a 4.4% increase compared to $338,892 million in 2024 [37] - Walmart International net sales increased by 5.4% to $94,496 million in 2025 from $89,677 million in 2024 [37] - Sam's Club U.S. net sales for the nine months ended October 31, 2025, were $69,252 million, reflecting a 3.1% increase from $67,139 million in 2024 [37] Income and Earnings - Consolidated net income attributable to Walmart for the three months ended October 31, 2025, was $6.143 billion, a 34.2% increase compared to $4.577 billion in 2024 [34] - Basic net income per common share attributable to Walmart increased by 35.1% to $0.77 for the three months ended October 31, 2025, compared to $0.57 in 2024 [34] - Consolidated net income for the nine months ended October 31, 2025, was $17,878 million, an increase of 21.5% from $14,732 million in 2024 [36] - Operating income for the three months ended October 31, 2025, was $6.696 billion, a slight decrease of 0.2% from $6.708 billion in 2024 [34] - Operating income for Walmart U.S. for the nine months ended October 31, 2025, was $18,205 million, a 4.9% increase from $17,358 million in 2024 [37] - Adjusted EPS is expected to be $2.58 to $2.63, including a currency headwind of $0.01 to $0.02 [2] - Reported EPS for the three months ended October 31, 2025, was $0.77, with adjusted EPS at $0.62 after net adjustments of $(0.15) [55] - For the nine months ended October 31, 2025, reported EPS was $2.20, while adjusted EPS was $1.91 after net adjustments of $(0.29) [55] Cash Flow and Investments - Operating cash flow increased by $4.5 billion to $27.5 billion [16] - Net cash provided by operating activities increased to $27,452 million in 2025 from $22,918 million in 2024, reflecting a growth of 19.8% [36] - Free cash flow for the nine months ended October 31, 2025, was $8,825 million, an increase of $2,603 million compared to the prior year [48] - The company reported a net cash used in investing activities of $19,030 million for the nine months ended October 31, 2025, compared to $12,661 million in 2024 [36] Assets and Liabilities - Total assets as of October 31, 2025, were $288.655 billion, an increase from $263.399 billion as of October 31, 2024 [35] - Current liabilities increased to $115.732 billion as of October 31, 2025, compared to $102.558 billion as of October 31, 2024 [35] - Long-term debt as of October 31, 2025, was $34.445 billion, slightly up from $33.645 billion as of October 31, 2024 [35] - Total cash, cash equivalents, and restricted cash at the end of the period was $11,097 million, up from $10,168 million at the end of the previous year [36] Operational Metrics - Adjusted operating income increased by 8.0% in constant currency [7] - Adjusted operating income for Walmart U.S. for the nine months ended October 31, 2025, was $18,205 million, a 4.1% increase from $17,488 million in 2024 [37] - Operating income for the trailing twelve months ended October 31, 2025, was $28,976 million, slightly up from $28,743 million in 2024 [66] - Return on assets (ROA) increased to 8.4% for the trailing twelve months ended October 31, 2025, compared to 7.8% for the same period in 2024 [61] - Return on investment (ROI) decreased to 14.8% for the trailing twelve months ended October 31, 2025, down from 15.1% in 2024 [61] Other Financial Highlights - Global advertising business increased by 53%, with Walmart Connect in the U.S. up 33% [8] - Membership income grew by 9.0%, including a 16.7% increase in membership income [8] - The company reported a 51.6% increase in provision for income taxes for the three months ended October 31, 2025, totaling $2.098 billion compared to $1.384 billion in 2024 [34] - The PhonePe subsidiary modified share-based payment plans, leading to incremental non-cash compensation expenses [55] - Business reorganization charges were primarily related to strategic supply chain decisions in the Sam's Club U.S. segment [56]

Core Insights - Walmart raised its annual forecasts for the second time this year, indicating strong performance and confidence as it approaches the holiday season [1] Group 1 - The company experienced another strong quarter, primarily driven by surging online sales [1]

Market Reaction to Nvidia Earnings - Nvidia reported Q3 earnings per share of $1.30 on revenue of $57.01 billion, exceeding expectations of $1.26 EPS on $55.2 billion in revenue [6][12][13] - The data center segment generated $51.2 billion in sales, surpassing estimates of $49.3 billion, while gaming revenue was slightly below expectations at $4.3 billion compared to $4.4 billion [6][12][13] - For Q4, Nvidia projected revenue of $65 billion, higher than Wall Street's expectation of around $62 billion, leading to a premarket share price increase of over 5% [7][12][13] Impact on Chip Stocks - Following Nvidia's strong earnings, chip stocks experienced a significant uptick, with AMD shares climbing nearly 5%, and Micron and Broadcom gaining around 4% [7][12][13] - Major tech companies such as Microsoft, Meta, and Google also saw their stock prices rise in early trading [7][12][13] Broader Market Trends - US stock market futures rose sharply, with Nasdaq 100 futures up 1.6%, S&P 500 futures gaining 1.2%, and Dow Jones futures increasing by 0.5% [4][12][13] - The broader market's rebound followed a four-day losing streak for the S&P 500 and Dow [7][12][13] Upcoming Economic Indicators - Traders are anticipating the delayed September nonfarm-payrolls report, with economists predicting job gains of around 50,000, marking the first major economic update since the federal shutdown [2][8][12] - The October jobs report has been canceled, and the November update has been postponed to December 16 [8][12] Federal Reserve Insights - Minutes from the Fed's October meeting revealed a divide among officials regarding labor conditions and inflation, contributing to uncertainty about future rate cuts [9][12][13] - Some policymakers indicated that no further rate cuts may occur this year, adding to market speculation [9][12][13] Gold Market Dynamics - Gold prices steadied near $4,075 an ounce, experiencing a 0.44% dip due to a stronger US dollar, which pressured bullion prices [10][12][13] - Despite recent fluctuations, gold remains up more than 50% this year after reaching record highs in October [10][12][13] Corporate Earnings Focus - Walmart is set to report quarterly earnings before the market opens, with investors closely monitoring for signs of consumer strength as the holiday season approaches [11][12][13]