Earnings: Walmart (WMT) Sales Up & Alibaba (BABA) Approves Cloud Intelligence Group Spin-Off

Walmart's (WMT) earnings were released today, May 18th, premarket. Its adjusted EPS came in at $1.47 versus an estimated $1.32 and its revenue came in at $152.30B versus an estimated $149.73B. Renita Young discusses this as WMT's 1Q U.S. same store sales up 6.7% and sees FY24 sales up approximately 3.5%. Alibaba's (BABA) earnings were also released today with its adjusted EPS which came in at $1.56 versus an estimated $1.30 and revenue that came in at $30.32B versus an estimated $30.35B. BABA approves a full spin-off of Cloud Intelligence Group. Tune in to find out more about the stock market today.