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Gold Moves Lower; Walmart Posts Upbeat Q3 Earnings - Cerence (NASDAQ:CRNC), Bath & Body Works (NYSE:BBWI)
Benzinga· 2025-11-20 17:11
Market Overview - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by over 150 points, closing at 46,312.60, a rise of 0.38% [1] - The NASDAQ rose by 0.40% to 22,655.24, and the S&P 500 gained 0.33% to 6,664.29 [1] Company Performance - Walmart Inc. reported third-quarter adjusted earnings per share of 62 cents, surpassing the expected 60 cents, with quarterly sales reaching $179.50 billion, a 5.8% year-over-year increase, exceeding the analyst consensus of $177.429 billion [2] - Walmart raised its 2026 adjusted EPS outlook to a range of $2.58–$2.63, up from $2.52–$2.62, with the updated midpoint above the $2.61 analyst consensus [3] - The company also increased its fiscal 2026 constant-currency revenue growth outlook to 4.8%–5.1%, up from the previous range of 3.75%–4.75% [3] Stock Movements - Cerence Inc. shares surged by 38% to $10.89 following better-than-expected fourth-quarter results, while Goldman Sachs maintained a Neutral rating and raised its price target from $10 to $11 [9] - PACS Group Inc. saw a 52% increase in shares to $25.64 after reporting better-than-expected quarterly sales [9] - Bath & Body Works Inc. shares fell by 24% to $15.96 after reporting worse-than-expected third-quarter results and issuing FY25 EPS guidance below estimates [9] - Canadian Solar Inc. shares dropped by 15% to $22.40 after a downgrade from Mizuho, despite a raised price target [9] - Meihua International Medical Tech Co Ltd shares fell by 27% to $0.17 following a 1-for-100 reverse stock split [9] Economic Indicators - Non-farm payrolls increased by 119,000 in September, exceeding market estimates of 50,000 [13] - The unemployment rate rose to 4.4%, the highest since October 2021 [13] - U.S. existing home sales increased by 1.2% month-over-month to an annualized rate of 4.10 million in October [13]