Stocks Fall as Investors Parse Earnings; Walmart Beats Estimates

U.S. stocks slipped Thursday as investors analyzed quarterly results from Walmart (WMT) - Get Report and Cisco (CSCO) - Get Report . Walmart shares rose 3 percent after reporting second quarter earnings that beat analysts' forecasts on the top and bottom lines. Comparable store sales grew 1.6 percent, the biggest increase in eight quarters. Digital sales gained 11.8 percent, compared to a 16 percent increase in the same quarter a year ago. Cisco shares dipped 1.3 percent after unveiling plans to lay off 5,500 workers, lower than the 14,000 cuts mentioned in various news reports on Wednesday. Fourth-quarter earnings, released Thursday, of $0.63 a share eclipsed estimates of $0.60. Revenue dipped 1.6 percent year-over-year to $12.64 billion, topping estimates of $12.57 billion. More questions surround the alleged gunpoint robbery of U.S. Olympic swimmer Ryan Lochte. While Lochte has returned to the U.S., two of his teammates, who were reportedly with Lochte during the incident, were plucked from a U.S.-bound flight last night, as authorities seek more information. A Brazilian judge questioned the validity of Lochte's initial account of what took place. TheStreet's Scott Gamm reports from Wall Street.