Wal-Mart's Stock Heads For Biggest One-day Gain In 9 Months

By Tomi Kilgore Markets MarketWatch Pulse

Wal-Mart Stores Inc.'s stock surged 3.2% in afternoon trade Tuesday, after the discount retail giant reported fiscal fourth-quarter earnings and same-store sales that beat expectations. That put the stock, which paced the gainers within the Dow Jones Industrial Average , on track to post the biggest one-day percentage gain since it soared 9.6% on May 19, 2016, after first-quarter results. The price gain of $2.21 was adding 15 points to the Dow's price, which was up 123 points in record territory. Wal-Mart shares are also on course for a fifth-straight gain, the longest such stretch since the six-session win streak ended Oct. 31, 2016. Wal-Mart's stock has rallied 11% over the past 12 months, while the SPDR Consumer Staples Select Sector ETF has tacked on 8.3% and the S&P 500 has climbed 23%.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.