US shares open higher, Walmart sheds 4%
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NEW YORK, Nov 15 AFP
November 16 2012, 01:45AM
US stocks have edged higher after a sharp fall the previous day, with Walmart's disappointing revenues in its third quarter report sending its shares down more than four per cent.
In the first five minutes of Thursday trade, the Dow Jones Industrial Average was up 6.84 points (0.05 per cent) to 12,577.79.
The broad-market S&P 500 added 1.86 (0.14 per cent) to 1,357.35, while the tech-rich Nasdaq Composite rose 1.24 (0.04 per cent) at 2,848.05.
Walmart's shares fell 4.1 per cent to $68.39 on quarterly earnings that showed a nine per cent rise in net income to $3,63 billion but revenue at stores climbed only 1.5 per cent, below expectations.