GO
Loading...

Enter multiple symbols separated by commas

Wal-Mart Shares Down on Goldman Sachs Ratings Cut

Goldman Sachs said it cut Wal-Mart Stores to "neutral" from "buy" and its price target to $51 from $53.

In a research note, the brokerage said weak sales at Wal-Mart continue to suggest payback from earlier investments will take more time than it had originally anticipated.

The brokerage lowered its earnings estimates for the world's biggest retailer to $3.10 a share from $3.14 for 2007 and to $3.51 a share from $3.54 for 2008.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.