For Cheddar's Generation Trader series, sponsored by E*TRADE, we are going to highlight the most compelling business stories moving the market while utilizing E*TRADE's innovative trading platform. Cheddar Anchors Hope King and Baker Machado explain the factors driving Walmart's growth in the retail space.
Walmart is quietly outperforming the retail sector and the broader market. Walmart acquired Jet.com last year, and e-commerce sites Bonobos and Modcloth in 2017. The company is holding its own against the likes of Amazon.
Amazon and Walmart have both grown more than 40 percent year-to-date. On Wednesday, in a blog post, Walmart CEO Doug McMillon announced the company is changing its corporate name from "Wal-Mart Stores" to "Walmart." McMillon wrote, "changing our corporate name to Walmart is a way of better reflecting our company's path to win the future of retail."
Microsoft reported a 20% spike in quarterly profits Tuesday, helping to fuel its battle to get ahead of rivals like Google, Amazon and Facebook parent Meta in selling the latest artificial intelligence technology.
Visa Inc. said its adjusted third-quarter profits rose by nearly double digits, as the global payments company continues to benefit from the broad shift by consumers to using credit and debit cards instead of cash.
Even after inflation has steadily eased this year, the Federal Reserve's policymakers still think prices are rising too fast and are almost certain to lift their key interest rate by a quarter-point on Wednesday.
