Wal-Mart said third-quarter earnings came to 70 cents a share and revenue was
$91.95 billion, topping the mean estimate of analysts surveyed by Thomson
Financial of earnings of 67 cents a share and revenue of $91.67 billion.
Same-store sales for the quarter rose 1.5% over year-earlier levels.
The stock, a component of the Dow industrials, jumped 6.1%% to $45.95 in recent
UBS (NYSE:UBS) raised its price target on Wal-Mart to $62 from $60 and
reiterated its buy rating. 'We believe [Wal-Mart] is well positioned for further
profit improvement given the performance in the third quarter,' analyst Neil
Currie wrote to clients.
Elsewhere in the sector, shares of Fred's Inc. (NASDAQ:FRED) rose 3.2% to
$10.68, 99 Cents Only Stores (NYSE:NDN) gained 4.5% to $9.50, and BJ's Wholesale
Club Inc. (NYSE:BJ) was up 4% at $34.84.
Dollar Tree Stores Inc. (NASDAQ:DLTR) rose 1.3% to $29.06 and Family Dollar
Stores Inc. (NYSE:FDO) rallied 5.1% to $24.70.
Tuesday Morning Corp. (NASDAQ:TUES) rallied 4.6% to $8.27 and Target Corp. (NYSE:TGT)
traded up 4.4% to $59.15. The Retail Holdrs ETF (RTH) rallied 3.2% to $95.57.
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