Walmart Boosts Outlook While Warning That Higher Costs Loom

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.

Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Jennifer Bartashus, Bloomberg Intelligence Senior Analyst, Retail Staples & Packaged Food, discusses Walmart earnings. Walmart Inc. raised its full-year sales and profit outlook, a sign the world’s biggest retailer is winning over price-sensitive shoppers while absorbing rising costs. The company now sees net sales rising 4.8% to 5.1%, higher than its previous projection in August. It marks a second increase in forecast during the fiscal year.

-Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst, recaps Nvidia earnings. The company announced sales will be about $65 billion in the January quarter, and a half-trillion-dollar revenue bonanza due in coming quarters may be even bigger than anticipated. Nvidia's CEO Jensen Huang acknowledged concerns about an AI bubble, but said "from our vantage point, we see something very different" and that the growing role of AI will help maintain demand for Nvidia's products.

-John Butler, Bloomberg Intelligence Senior Telecom Analyst, discusses layoffs at Verizon. Verizon Communications Inc. announced wide-ranging layoffs Thursday morning that will shrink the company by as much as 20% of its non-union workforce, a major step in a turnaround plan led by new Chief Executive Officer Dan Schulman. The largest wireless carrier in the US gave notice that it will begin by cutting more than 13,000 employees, according to an internal message Schulman sent to employees that was seen by Bloomberg News.

-Matt Henriksson, Bloomberg Intelligence Senior Medtech Analyst, discusses Abbott Laboratories agreeing to acquire cancer-screening company Exact Sciences Corp., in a deal with a total equity value of about $21 billion. In the biggest health-care deal in two years, Abbott will pay $105 per common share in cash, the companies said Thursday in a statement. The price represents a 51% premium to Exact Sciences’ closing price on Nov. 18, the last full trading day before Bloomberg reported that Abbott was nearing a deal.

See omnystudio.com/listener for privacy information.