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U.S. Morning Call: Wal-Mart, Target quarterly profits rise

Wednesday, November 14, 2012 - 03:03

Nov 15 - Wal-Mart posted a higher quarterly profit today helped by strong sales of back to school merchandise in the U.S.

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Big box retailers out with a result and BP here's your morning call for Thursday. Wal-Mart posting higher quarterly profit today helped by strong sales of back to school merchandise in the US. It also affirmed its top and a full year earnings per share guidance saying the company is well positioned for the holidays. The retail giant's third quarter sales came in at 113. Point eight billion that's at 3.4 percent increase from last year. All just good news but shares of Wal-Mart shopping just over percent in the premarket. Rival target out with results just minutes ago target coming in above expectations with earnings at 96 cents per share that's above the view. A 77 cents per share target is trading slightly higher in the premarket. We also have earnings from Viacom network reported decline in quarterly revenue on a sharp drop in movie box office sales but its profit rose. And according after the bell today we've got Dell and applied materials also some more retailers dollar tree and GAAP. US stock futures put into higher open on Wall Street after losses on Wednesday. It's a busy day for the Fed as Ben Bernanke -- housing in Atlanta. Inflation hawks -- -- Richard Fisher and Charles Plosser will also take to the podium. Investors looking -- today as China and -- and older conservative leadership lineup court's ruling Communist Party. Chinese shares sank to their lowest in seven weeks on uncertainties surrounding their policies. Also keep -- -- oil and gold prices today as tensions mount in the Gaza Strip following violence on both sides. So on economic data out this morning let's start with jobless claims expected to inch up this week. To 375000. From 355000. Filed in the prior week. Also due at 830 -- and the Consumer Price Index for October economists polled by Reuters expect prices have risen. Point 1% overall. Inflation pressures still looking mild. Ever since stocks to watch keep your -- and BP's London based oil giant is expected to pay the largest criminal penalty in US history. For misconduct in the 2010 deep water horizon oil spill. Sources telling Reuters that BP will plead guilty in a deal reached with the Department of Justice. Five are currently holds a fine record paying one point three billion in 2009 from marketing fraud BP off talks with the SEC. Shares of BP falling on the London Stock Exchange down nearly 3%. And finally Texas Instruments eliminating 17100. Jobs about 5% of its global workforce. The chipmaker halting its Smartphone and tablet chip business instead focus on chips for cars and home appliances. That's all your morning call this Thursday for more news follow us on Twitter at Reuters Insider in check out our Reuters YouTube channel at Reuters dot com slash Reuters TV. I'm Lisa Bernhard this is Reuters.

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U.S. Morning Call: Wal-Mart, Target quarterly profits rise

Wednesday, November 14, 2012 - 03:03

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