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Wal-Mart Cuts Guidance for the 4th quarter on Negative Trends

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Wal-Mart Stores, Inc. (NYSE:WMT) shares are slightly down this morning after reducing its earnings guidance for the fourth quarter. The world’s largest retailer pegged its fourth quarter earnings below the previous estimated range of $1.60-$1.70 per share. Wal-Mart is predicting that earnings will come below the lower range estimate of $1.60 per share. The company cited the reduction in food stamps, the slew of recent bad weather in the U.S., and some store closures in emerging markets as reasons for the revised estimate.