Why Wal-Mart Stores Stock Jumped 11.7% in October

Why Wal-Mart Stores Stock Jumped 11.7% in October

Shares of Wal-Mart Stores (NYSE: WMT) popped nearly 12% last month, according to data from S&P Global Market Intelligence. The retail behemoth announced a massive new share-repurchase program and offered an optimistic outlook for the year ahead.

During its annual investor day, Wal-Mart reiterated its profit forecast for fiscal 2018, including adjusted earnings per share of $4.30 to $4.40. The midpoint of that range would be up slightly from fiscal 2017's $4.32 in adjusted EPS.

Looking further ahead, Wal-Mart expects EPS growth of 5% in fiscal 2019, driven by a 3% rise in sales and new cost control measures.

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Source: Fool.com