FinancialInsiders, November 17, 2017 /PRNewswire/ --

U.S. equity rebounded on Thursday after two days of declines, driven by strong quarterly earnings from Wal-Mart and Cisco Systems. The Dow Jones industrial average rose 190 points, or 0.82 percent to 23,461 during Thursday's trading session. S&P 500 gained the most in three weeks, up 0.93 percent to 2,588. While the NASDAQ composite outperformed the other two indexes, gaining 1.47 percent to 6,804. Better-than-expected quarterly earnings from Wal-Mart sent its stock to all-time high on Thursday. According to CNBC, Nick Raich, CEO of The Earnings Scout, said: "stocks are bouncing back... in what is proving to be a year of amazing of resilience for the asset class and silencing the bears… Market bears had one eye open yesterday, but are slipping back into hibernation." Wal-Mart Stores Inc (NYSE: WMT), Best Buy Co Inc (NYSE: BBY), Target Corporation (NYSE: TGT), Cisco Systems, Inc. (NASDAQ: CSCO), JD.Com Inc (NASDAQ: JD).

The three major indexes had been hitting all-time highs this year, driven by better-than-expected corporate earnings, strong economic data and increasing optimism in the tax reform plan. According to CNBC, Jeffrey Kleintop, Chief Global Strategist and Senior Vice President at Schwab, said at the Charles Schwab IMPACT 2017 conference in Chicago, "Stocks have been rooted in better fundamentals of growth around the world…That's been true through the Brexit vote, through the U.S. election, through the shift in central bank policies - even the North Korea risks. Stocks have remained anchored in better growth prospects." On Thursday House GOP passed tax plan, advancing big cuts for corporations.

Wal-Mart Stores Inc (NYSE: WMT) stock jumped about 9% Thursday after the company announced 3rd quarter earnings. Total revenue was $123.2 billion, an increase of $5.0 billion, or 4.2%. Excluding currency, total revenue was $122.7 billion, an increase of $4.5 billion, or 3.8%. eCommerce growth at Walmart U.S. remained strong, led by growth through Walmart.com. Net sales and GMV3 increased 50% and 54%, respectively. The company reported net sales at Walmart International were $29.5 billion, an increase of 4.1%. Excluding currency, net sales were $29.1 billion, an increase of 2.5%. Ten of eleven markets posted.

Best Buy Co Inc (NYSE: BBY) shares are down more than 4% after published announced results for the third quarter ended October 28, 2017 ("Q3 FY18"). "In the third quarter, we delivered strong top and bottom line results with 4.4% comparable sales growth and 30% EPS growth," said Hubert Joly, Best Buy chairman and CEO. "Technology innovation is fueling demand and our strategy is resonating with our customers. We are also making significant progress against our Best Buy 2020 strategy and are excited about the opportunities for long-term value creation. And while we are investing in key initiatives and capabilities, we are also able to generate significant returns for our shareholders through the growth of our EPS and our capital allocation strategy."

Target Corporation (NYSE: TGT) reported on Wednesday a third quarter 2017 comparable sales increase of 0.9 percent and GAAP earnings per share (EPS) from continuing operations of $0.87, a decrease of 17.7 percent from third quarter 2016. Third quarter adjusted earnings per share from continuing operations (Adjusted EPS) were $0.91, a decrease of 13.1 percent from third quarter 2016. Brian Cornell, chairman and chief executive officer of Target Corporation said, "The investments we're making in our business will help Target drive long-term success and ensure we're well positioned to deliver for guests in the all-important holiday season. Our assortment now includes thousands of new items from the eight exclusive brands we've launched throughout 2017, including Hearth and Hand with Magnolia, our new home goods partnership with Chip and Joanna Gaines."

Cisco Systems, Inc. (NASDAQ: CSCO) reported this Wednesday first quarter results for the period ended October 28, 2017. Cisco reported first quarter revenue of $12.1 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.4 billion or $0.48 per share, and non-GAAP net income of $3.0 billion or $0.61 per share. "Our results in Q1 demonstrate the continued progress we're making on our strategy," said Chuck Robbins, CEO of Cisco. "The network has never been more critical to business success. Cisco is delivering more insights and intelligence as we help our customers build highly secure, intelligent platforms for digital business."

JD.Com Inc (NASDAQ: JD) announced on Monday its unaudited financial results for the quarter ended September 30, 2017. Net revenues for the third quarter of 2017 were RMB83.7 billion (US$12.6 billion), an increase of 39.2% from the third quarter of 2016. Gross profit for the third quarter of 2017 was RMB13.0 billion (US$2.0 billion), an increase of 50.3% from the third quarter of 2016. Non-GAAP gross profit was RMB12.8 billion (US$1.9 billion), an increase of 51.9% from the same quarter last year. Net income from continuing operations attributable to ordinary shareholders for the third quarter of 2017 was RMB1.0 billion(US$0.2 billion), compared to a net loss from continuing operations attributable to ordinary shareholders of RMB0.5 billion for the same period last year. 

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