Walmart (WMT) Stock Closed Down, Ad Strategy Shifts
Bloomberg News
NEW YORK (TheStreet) -- Shares of Walmart (WMT) - Get Report closed down 1.07% to $73.27 today after the company indicated it would be changing its ad strategy.
Publicis Group (PUBGY), a global communications company based in Paris, will take over Walmart's U.S. advertising and in-store creative in a non-exclusive deal, MarketWatch reports.
Walmart's U.S. advertising had previously been managed since 2007 by the Martin Agency.
"This relationship with Publicis Groupe will help us think and act differently, which will ultimately enable us to serve our customers even better," said Walmart CEO Dough MacMillon in a statement.
The company was also under pressure today as major online competitor Amazon.com (AMZN) celebrated its second-annual Prime Day. The online deal day brought the company's stock to record highs.
Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and notable return on equity.
TheStreet Ratings feels its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.
You can view the full analysis from the report here: WMT
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.