Walmart Posts Upbeat Earnings, Joins Armstrong World Industries, Owens & Minor And Other Big Stocks Moving Higher On Tuesday

U.S. stocks were mostly lower, with the Nasdaq Composite falling more than 200 points on Tuesday.

Shares of Walmart Inc. WMT rose in today’s session after the company reported better-than-expected fourth-quarter financial results.

Walmart reported fourth-quarter FY24 net sales growth of 5.7% year-over-year to $173.39 billion, beating the consensus of $170.71 billion. Adjusted EPS was $1.80, beating the consensus of $1.65.

The board approved an annual cash dividend for fiscal year 2025 of 83 cents per share on a post-stock split basis or $2.49 per share on a pre-split basis, approximately a 9% increase from the $2.28 per share paid for the last fiscal year.

Walmart shares gained 4.9% to $178.66 on Tuesday.

Here are some other big stocks recording gains in today’s session.

• Iovance Biotherapeutics, Inc. IOVA shares jumped 37% to $12.55. WuXi Advanced Therapies announced Tuesday that the U.S. Food and Drug Administration (FDA) approved it to begin analytical testing and manufacturing of AMTAGVI for Iovance Biotherapeutics at its Philadelphia site. AMTAGVI received accelerated approval of its BLA on Feb. 16. Iovance also announced on Tuesday the pricing of an underwritten offering of 23,014,000 shares of its common stock at a price of $9.15 per share.
• Phathom Pharmaceuticals, Inc. PHAT gained 15.1% to $10.70.
• VIZIO Holding Corp. VZIO rose 14.8% to $10.94 after the company inked an agreement to be acquired by Walmart.
• Discover Financial Services DFS shares climbed 12% to $13.00. Capital One Financial Corp COF announced its plans to purchase Discover Financial Services, marking a pivotal $35.3 billion all-stock transaction.
• Barclays PLC BCS gained 11.7% to $8.35 after the company reported fourth-quarter financial results and announced its intention to initiate a further share buyback of up to £1 billion.
• Korea Electric Power Corporation KEP rose 10.7% to $8.74
• Qurate Retail, Inc. QRTEA surged 10.6% to $1.15.
• InterContinental Hotels Group PLC IHG gained 8.3% to $105.83.
• Armstrong World Industries, Inc. AWI jumped 8.1% to $113.63 following upbeat results.
• Telephone and Data Systems, Inc. TDS rose 7.7% to $15.13. The company recently reported fourth-quarter financial results and issued FY24 guidance.
• Owens & Minor, Inc. OMI gained 7.7% to $22.84 after the company reported better than expected fourth-quarter earnings and issued 2024 guidance.

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