Wal-Mart Turns Lower, Again, As It Heads For 16-month Low

MarketWatch Pulse

For the third-straight session, Wal-Mart Stores Inc.'s stock has erased an early gain to trade lower. On Monday, it's now gearing up to close at the lowest level in 16 months. The stock was down 0.2% in afternoon trade, after being up as much as 0.6% earlier in the session on the heels of an upgrade at Raymond James. And while the month is still young, the 1.8% decline so far in June puts the stock on an early track for a record seventh-straight monthly decline, breaking the record of six it set...last month. Since Wal-Mart went public in January 1972, the previous longest monthly losing streak was the five-month stretch ending December 1974. The stock, which is down 1.8% so far this month, has slumped 15% year to date, while the SPDR S&P Retail ETF has gained 3% and the S&P 500 tacked on 1.1%.

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