Wal-Mart Gets 4 Upgrades (WMT)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

In our Friday article noting that the ‘less bad is good’ for Wal-Mart (WMT-NYSE), we noted that the
way the news was presented and the initiatives that were being continued were the sort that would probably create multiple upgrades from Wall Street research shops.

That appears to be what is going on this morning.  This morning there are already four key upgrades from major Wall Street firms.  Wal-Mart shares have seen the following upgrades this morning: raised from neutral to "Overweight" at HSBC ($61 target) , raised from market perform to ‘outperform" at Wachovia, raised at J.P.Morgan from neutral to an "Overweight" rating, and raised at Morgan Stanley from equal-weight to "Overweight."

Shares of WMT are indicated up over 1% in pre-market activity.  If it wasn’t for the huge drop in China and perhaps the news of a foiled terror plot at JFK Airport this might be indicated higher.  After the company released all of its positive data at the shareholder meeting Friday, shares closed up almost 4% ahead of today’s upgrades.

Jon C. Ogg
June 4, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618