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Walmart’s Big Warning, GM’s Earnings Miss, Shopify Layoffs 7/26/22

Walmart’s Big Warning, GM’s Earnings Miss, Shopify Layoffs 7/26/22

Carl Quintanilla and Jim Cramer started the show with Walmart shares sinking after the company cut both its Q2 & full-year profit outlook. The big warning dragged other retailers like Home Depot, Amazon and Best Buy lower as well. The anchors then shifted to a slew of earnings, including General Motors, which reported numbers below expectations. Two big consumer names also posted results, as Coca-Cola and McDonald’s both beat estimates. Also in the mix: Shopify shares dropped double digits after the company announced it will lay off 10% of its global workforce.

Squawk on the Street

July 26, 202244m 11s

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Show Notes

Carl Quintanilla and Jim Cramer started the show with Walmart shares sinking after the company cut both its Q2 & full-year profit outlook. The big warning dragged other retailers like Home Depot, Amazon and Best Buy lower as well. The anchors then shifted to a slew of earnings, including General Motors, which reported numbers below expectations. Two big consumer names also posted results, as Coca-Cola and McDonald’s both beat estimates. Also in the mix: Shopify shares dropped double digits after the company announced it will lay off 10% of its global workforce. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.
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