Investing.com — U.S. stocks were falling as the steam ran out of their recent rally after Walmart’s cautious outlook on consumer spending.
Here are some of the biggest U.S. stock movers today:
Walmart (NYSE:) stock fell 7.4% after the retail giant warned about the pressure on consumers heading into the important holiday season, offsetting a profit and sales beat for the third quarter.
Macy’s (NYSE:) stock rose 4.5% after the department store chain reported a big fiscal third-quarter profit beat, helped by an improvement in margins, and nudged up its full-year outlook.
Alibaba (NYSE:) ADRs dropped 9.4% after the Chinese e-commerce giant decided not to go ahead with a full spin-off of its key cloud unit, citing the impact of enhanced U.S. controls on exports of advanced computing chips and semiconductor manufacturing equipment to China.
Cisco (NASDAQ:) stock slumped 11.4% after the tech company cut its full-year revenue and profit forecasts in a sign that demand for its networking equipment was slowing.
Palo Alto Networks (NASDAQ:) stock fell 5.8% after the cybersecurity company issued second-quarter and full-year billing guidance below…
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