Diamonds and Dogs
Walmart (WMT) leading the rebound. The giant retailer is up 5% following better than expected earnings and boosted outlook for the rest of 2019. The second quarter comp sales came in ahead of expectations. On a two-year stacked basis comp sales grew 7.3%, which is the strongest growth in more than 10 years. Walmart has leveraged its expansive Supercenter network to deliver a better experience for shoppers. Some observers believe the large retailers, Walmart, Amazon and Target, are well-positioned in the long term due to their ability to benefit from scale, technology, customer data, among other factors.
Nothing going right at Briggs & Stratton (BGG). The outdoor power equipment company is down 40% to a 44 year low following earnings. The company missed earnings by a wide margin as sales fell 5.9% to $471.95 million. The company also dramatically cut earnings guidance and cut their dividend to 5 cents from 14 cents a quarter. The tariffs can't be helping , but Briggs & Stratton is blaming North American market due to near-term disruption caused by channel partner transitions and the prolonged impact of weather on Europe, which has experienced hot and dry conditions in the early months of summer.