Wal-Mart slide cuts 15 points off Dow

February 15, 2013, 3:25 PM

 http://blogs.marketwatch.com/thetell/2013/02/15/wal-mart-slide-cuts-15-points-off-dow/

Leaked e-mails showing Wal-Mart executives’ concern over a “total disaster” in the retail giant’s recent sales, have sparked a selloff in the stock that’s leading the Dow Industrials lower Friday.
Wal-Mart  WMT was accounting for 15 points of the price-weighted Dow’s  INDU decline late Friday.
Miller Tabak’s Andrew Wilkinson said in e-mailed comments “we are a little suspicious of how deep the tremors will run from management’s leaked email.” In particular, January sales data released earlier in the week showed that “discretionary spending appeared to hold firm.”
In addition, part of the problem may be attributable to delays to tax refunds to early filers because of fiscal-cliff complications.
But the technical risks to Wal-Mart shares are worth watching, particularly the $67.50 level that’s been tested several times in the past year, Jonathan Krinsky, chief technical market analyst at Miller Tabak noted.
– Tom Bemis
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