Strong Wal-Mart Earnings Should Drive Market Vectors Retail ETF (RTH)
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Market Vectors Retail ETF (NYSE: RTH) is in focus today following earnings from Wal-Mart Stores (NYSE: WMT). Wal-Mart reported Q1 EPS of $1.09, $0.05 better than the analyst estimate of $1.04. Revenue for the quarter came in at $112.3 billion versus the consensus estimate of $110.5 billion.
Shares of WMT are up 3.5 percent in pre-market trading. WMT has a 10.2 percent weighting in RTH, so the ETF should open higher today.
Another retailer, Target (NYSE: TGT), reported earnings yesterday, but despite a higher open the stock finished flat on the day. TGT has a 4.97 percent weighting in RTH.
Shares of WMT are up 3.5 percent in pre-market trading. WMT has a 10.2 percent weighting in RTH, so the ETF should open higher today.
Another retailer, Target (NYSE: TGT), reported earnings yesterday, but despite a higher open the stock finished flat on the day. TGT has a 4.97 percent weighting in RTH.
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