Join us on Twitter spaces for today’s Bulls, Bears & Blockchain show, where we’ll be tackling some of the most pressing topics in the financial world.
Be sure to join the conversation as we discuss:
- Walmart Q1 Sales Top Expectations
- U.S. Economy Slows Down as Leading Economic Indicators Tumble for 13th Straight Month
- Bankrupt Crypto Broker Voyager Cleared to Repay $1.3B to Creditors
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Walmart Beats Expectations in Q1, Raises Full-Year Outlook
Walmart, the world's largest retailer, reported first quarter same-store sales growth that beat expectations.
— Revolution Radio @getRevRadio (@getrevradio) May 18, 2023
Sales were boosted by consumers who are trading down from traditional supermarkets and slowing their purchases of discretionary merchandise from rivals like Target. pic.twitter.com/t3CMXebh1x
Walmart (WMT) reported first-quarter same-store sales growth of 3.0%, beating analysts’ expectations of 2.3%. The company’s sales were boosted by consumers who are trading down from traditional supermarkets and slowing their purchases of discretionary merchandise from rivals like Target (TGT).
Walmart’s U.S. same-store sales growth of 3.5% was driven by strong sales in grocery, health and wellness, and consumables. The company’s international same-store sales growth of 2.2% was led by strong sales in Mexico, Canada, and China.
Walmart also raised its full-year earnings per share forecast to a range of $6.10-$6.20 per share, up from its prior expectations of $5.95-$6.05 per share. The company expects to continue to benefit from strong sales in grocery and health and wellness, as well as its growing e-commerce business.
Join us live today at 5:30pm EST as our market masters take a deep dive into what this all means.
$WMT Walmart revenue growth of 7.6%; operating income growing faster at 17.3%; eCommerce up 26% globally; Q1 FY24 GAAP EPS of $0.62; Adjusted EPS of $1.47; Company guides Q2 and raises FY24 outlook 1/2
— Bloomberg Feed (@BloombergFeed) May 18, 2023
“It’s a great time to be a merchant,” Walmart CEO Doug McMillon said on a conference call with analysts. “We continue to gain market share in the grocery category, including with higher income and younger shoppers, and we saw good growth in membership income in both businesses.”
Walmart’s strong results are a sign that consumers are still spending, even in the face of rising inflation. The company’s focus on value and its growing e-commerce business are helping it to attract and retain customers. Walmart is well-positioned to continue to perform well in the current economic environment.
U.S. Economy Slows Down as Leading Economic Indicators Tumble for 13th Straight Month
US Leading Economic Indicators Tumble For 13th Straight Month, "Weaknesses Were Widespread" https://t.co/qWgIUw5zKZ
— zerohedge (@zerohedge) May 18, 2023
The Conference Board’s leading economic index for the United States fell 0.3% in April, the 13th consecutive month of decline. The index is now at its lowest level since November 2020.
The decline in the leading index was led by weakness in the following components:
- Stock prices
- Interest rates
- Consumer expectations
- Manufacturing orders
- Non-defense capital goods orders
The decline in the leading index is a sign that the U.S. economy is slowing down. The Federal Reserve is raising interest rates in an effort to combat inflation, but this is likely to slow economic growth.
The decline in the leading index is a reminder that the U.S. economy is facing a number of challenges. The war in Ukraine, rising inflation, and supply chain disruptions are all weighing on the economy.
The Federal Reserve is hoping that by raising interest rates, it can slow the economy enough to bring inflation under control without causing a recession. However, there is a risk that the Fed could overshoot and cause a recession.
The next few months will be critical for the U.S. economy. The Federal Reserve will need to carefully balance the need to raise interest rates with the need to avoid a recession. If the Fed can do this, the U.S. economy should be able to avoid a recession and continue to grow, albeit at a slower pace.
Voyager Digital has been cleared to repay $1.3 billion to its creditors
Voyager Digital, has been cleared to repay $1.3 billion to its creditors.
— Revolution Radio @getRevRadio (@getrevradio) May 18, 2023
The U.S. Bankruptcy Court for the Southern District of New York approved the plan which calls for Voyager to pay back its creditors with a combination of cash and cryptocurrency. pic.twitter.com/q2wYiHCcGQ
The U.S. Bankruptcy Court for the Southern District of New York approved the plan of reorganization on Tuesday. The plan calls for Voyager to pay back its creditors with a combination of cash and cryptocurrency.
Voyager filed for bankruptcy in July after it was unable to meet its obligations to its customers. The company had lent billions of dollars to Three Arrows Capital, a cryptocurrency hedge fund that filed for bankruptcy in June.
The approval of the plan of reorganization is a major step forward for Voyager. The company said that it expects to emerge from bankruptcy in the coming months.
On Friday, Voyager filed with the Court the procedures detailing how it intends to execute the company’s chapter 11 plan and provide initial recoveries. (1 / 3)
— Voyager (@investvoyager) May 8, 2023
Voyager’s bankruptcy is a sign of the challenges facing the cryptocurrency industry. The industry has been hit by a number of problems in recent months, including the collapse of TerraUSD, a stablecoin, and the Celsius Network, a cryptocurrency lending platform.
The bankruptcy of Voyager is a reminder that the cryptocurrency industry is still in its early stages of development. The industry is subject to a high degree of volatility and risk. Investors should be aware of the risks before investing in cryptocurrencies.
Join us today live on twitter spaces at 5:30 Pm EST for todays Bulls, Bears and Blockchain show as our crypto currency expert Alex Mascioli discusses this and more!
Attendance at the World’s Largest Bitcoin Conference Expected to be Half of Last Year’s
The world's largest Bitcoin conference is expected to have half the attendance of last year's event.
— Revolution Radio @getRevRadio (@getrevradio) May 18, 2023
The Bitcoin 2023 conference, which is scheduled to take place in Miami from June 6-10, is expected to have just 15,000 attendees, down from 35,000 last year. pic.twitter.com/fUTN07TbHH
The world’s largest Bitcoin conference is expected to have half the attendance of last year’s event. The Bitcoin 2023 conference, which is scheduled to take place in Miami from June 6-10, is expected to have just 15,000 attendees, down from 35,000 last year.
The decline in attendance is likely due to the ongoing “crypto winter,” a period of declining prices and decreased investment in cryptocurrencies. The price of Bitcoin has fallen by more than 70% from its all-time high of $68,789 in November 2021.
Despite the decline in attendance, the Bitcoin 2023 conference is still expected to be a major event in the cryptocurrency industry. The conference will feature a number of high-profile speakers, including Robert F. Kennedy Jr., the U.S. presidential candidate.
The decline in attendance at the Bitcoin 2023 conference is a sign of the challenges facing the cryptocurrency industry. The industry has been hit by a number of problems in recent months, including the collapse of TerraUSD, a stablecoin, and the Celsius Network, a cryptocurrency lending platform.
The decline in attendance is also a reminder that the cryptocurrency industry is still in its early stages of development. The industry is subject to a high degree of volatility and risk. Investors should be aware of the risks before investing in cryptocurrencies.
Join us live on twitter for todays Bulls, Bears & Blockchain show
Join us for another great 🐂🐻⛓️ Twitter space today at 5:30pm EST. Bulls, Bears, & Blockchain with your host @robnelsonlive & market masters @jonnajarian @MXLESQ & @AlexMascioli cover TradFi, Crypto, & Web3, there’s nothing more comprehensive.https://t.co/pkK37HDR5C pic.twitter.com/od8nqJNdAE
— Revolution Radio @getRevRadio (@getrevradio) May 18, 2023
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