Wal-Mart stores- the highest profit maker in retail

Wal-Mart Stores Inc NYSE WMT 12:00 AM ET 8/14/09
Last: 51.79 Change: -0.09 %Change: -0.17% Volume: 17,238,900
Open: 51.87 P/E Ratio: 15.32


High: 52.25 EPS: 3.38
Low: 51.54 Ex Date: 12/9/2009
Bid: 51.83 Dividend: 0.27
Ask: 51.82 Shares Out: 3.9 B
Yield: 2.10% Market Cap: 201.8 B
52wk High: 63.85 52wk Low: 46.25 Avg Volume: 22.1 M

In the middle of the tough retailing environment, slower consumer spending and lower revenues did not stop the world’s largest retailer from boosting profits.

Wal-Mart Stores Inc. reported second-quarter net income of $3.45 billion, up from $3.4 billion one year ago. Revenue for the Bentonville-based retail giant slipped 1.4 percent compared to last year’s $100.08 billion. U.S. sales accounted for nearly two-thirds of the company’s revenue and same-stores sales rose 1.5 percent.

Wal-Mart officials say they are focused on “accelerating” expense reductions, but they only predicted future same-store sales in the zero to two percent range.

Oil prices goes higher

Oil prices were higher on Monday, lifted by rising global equities and positive data that suggested the worst may be over for the crisis-hit US housing market, analysts said.

New York's main futures contract, light sweet crude for delivery in August, gained 32 cents to 63.88 dollars a barrel.

Brent North Sea crude for September delivery climbed 50 cents to 65.88 dollars.

US stocks opened higher Monday, building on last week's powerful rally on reports that huge business lender CIT Group had found private financing to avert bankruptcy. European shares rallied Monday after gains in Asia.

US media reported Monday that business lending giant CIT Group, which provides capital for small- and mid-sized businesses, has negotiated an agreement worth 3.0 billion dollars with its bondholders to avoid bankruptcy.

Oil soared last week as traders welcomed encouraging US data and earnings reports that could boost the recession-mired American economy -- which is the world's top energy consumer.