Healthcare isn't a big part of Walmart's business today, but that could change in the future.
Despite a grim trading session for the broader stock market on Wednesday, Walmart (NYSE:WMT) Inc. managed to break its three-day losing streak, with its shares experiencing a modest rise of 0.32% to close at $163.91. This upward movement was in stark contrast to the overall market performance, which saw both the S&P 500 Index and the Dow Jones Industrial Average decline by 0.94% to 4,402.20 and 0.22% to 34,440.88 respectively.
Shares of Chewy (NYSE: CHWY) are being sent to the doghouse today, pulling back after Oppenheimer downgraded the stock this morning and Walmart opened up its first pet services center. As a result, the stock was down 4% as of 12:06 p.m. ET. First, Oppenheimer analyst Rupesh Parikh lowered his rating on the stock to perform from outperform, saying he sees the challenging backdrop facing the company persisting for at least a few quarters.