Yahoo Finance Live anchor Seana Smith looks at how some of the biggest retail stocks are faring after Walmart's earnings beat estimates.
DAVE BRIGGS: It's the nation's largest retailer leading things off by beating expectations in the second quarter despite a pullback in apparel. Walmart largely echoed its profit warning late last month. One interesting takeaway from the report I saw, 3/4 of Walmart's market share gains came from middle and high income customers. Those that make more than $100,000 a year.
Seana, that was interesting here. They say when Walmart sneezes, though, the country reaches for a KN95 mask. But at this point, Walmart is very healthy. So what did we see as a result?
SEANA SMITH: Walmart's healthy. And look, we're seeing a lot of green on the screen here. We just pulled up a heat map here of some of the biggest retail players. You can see Walmart, that stock up just around 5 and 1/2%, the leader in the Dow today. Costco not far behind. Amazon moving to the upside.
Some of these slightly smaller players, TJX for example, that stock up just about 2.3%. We're even seeing gains from Target. Now, remember, we'll get Target before the bell tomorrow. But today, you can see the reaction in the stock on the heels of that better-than-expected report from Walmart on lowered expectations. But still target, Dave, up just around 4 and 1/2%.
DAVE BRIGGS: Surprising to see Macy's up because--
SEANA SMITH: Yeah.
DAVE BRIGGS: --we saw a pullback, as I mentioned, in apparel from Walmart. Thought that might impact them a little bit, did not to the downside.