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Today at a glance:
π Walmart: Resilient Growth
π· Home Depot: Signs of Recovery
β Intuit: Tepid Near-Term Guidance
π¦ PDD Holdings: Competitive Pressure
π Palo Alto Networks: AI-Driven Expansion
βοΈ Snowflake: Stabilizing Growth
π Nio: Record Deliveries
π Elastic: Back on Track
ποΈ Global-E: Re-Accelerating Growth
1. π Walmart: Resilient Growth
Walmart raised its annual outlook as consumers continued to prioritize value. Revenue grew 5% to $169.6 billion ($3.0 billion beat), and the adjusted EPS was $0.58 ($0.05 beat). US comparable sales rose 5.3%, including a 2.1% increase in average spending per transaction, driven by upper-income households. E-commerce remained a key driver, with global online sales up 27%, now representing 18% of total revenue. Walmart+ memberships and same-day delivery services also contributed to growth, showcasing the company's focus on convenience and digital services.
Management expressed optimism for the holiday season, citing robust sales in groceries, toys, and general merchandise, with early success in back-to-school and Halloween categories. While non-food discretionary spending remains under pressure, Walmartβs ability to capture market share across income groups and leverage its low-cost leadership underscores its resilience. With AI-driven operational improvements and a focus on profitability in e-commerce, Walmart is well-positioned to sustain momentum into the year-end.