Shares of Walmart Inc. WMT, +6.54% shot up 7.7% in premarket trading Tuesday, in the wake of better-than-expected fiscal third-quarter results and the $3 billion opioid settlement, enough to pace the Dow Jones Industrial Average’s DJIA, +0.17% gainers ahead of the open.
The implied premarket price gain would add about 70 points to the Dow’s price, while Dow futures YM00, -0.21% climbed 377 points, or 1.1%. The discount retail behemoth’s stock rally is on track for the biggest one-day gain since it soared 11.7% on March 17, 2020. It is also headed for the biggest one-day post-earnings gain since it jumped 9.3% on Aug. 16, 2018, after results for the fiscal second-quarter of 2018 were reported. Walmart’s stock, which was on track to open at the highest price seen during regular-session hours since May 16, had gained 4.4% over the past three months through Monday, while the SPDR Consumer Staples Select Sector ETF XLP, +0.84% has lost 4.4% and the Dow has slipped 1.1%.