Walmart Boosts Outlook While Warning That Higher Costs Loom

Nov 20, 2025

Guest

Matt Henriksson

Guest

Jennifer Bartashus, a Senior Analyst specializing in retail, discusses Walmart's robust earnings and its strategic moves to attract value-conscious shoppers. Kunjan Sobhani reviews Nvidia's impressive revenue surge, driven by AI technology, while addressing the challenges in gaming and competition. John Butler reveals Verizon's significant layoffs as part of a turnaround strategy, aiming to streamline operations to enhance competitiveness. Lastly, Matt Henriksson explains Abbott's $21 billion acquisition of Exact Sciences and its potential to boost growth through innovative offerings.

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INSIGHT

Walmart Growth Is Strategy, Not Just Discounting

Walmart's growth reflects both value-seeking shoppers and multi-year investments in convenience and e-commerce.
Jennifer Bartashus says those tech and marketplace moves are making Walmart stickier with higher-income customers.

INSIGHT

Nasdaq Move Signals Tech Repositioning

Moving to Nasdaq signals Walmart's evolution toward a tech-forward perception and peer grouping.
Jennifer Bartashus notes the shift could aid Walmart's valuation and inclusion in tech-focused indexes.

INSIGHT

Walmart's Data Gives A Broad Consumer Read

Walmart's customer data capture across many households gives it a clear read on spending patterns despite no formal loyalty program.
Jennifer Bartashus says Walmart sees spending steady for middle-income and strong for higher-income shoppers.

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Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu

-Jennifer Bartashus, Bloomberg Intelligence Senior Analyst, Retail Staples & Packaged Food, discusses Walmart earnings. Walmart Inc. raised its full-year sales and profit outlook, a sign the world’s biggest retailer is winning over price-sensitive shoppers while absorbing rising costs. The company now sees net sales rising 4.8% to 5.1%, higher than its previous projection in August. It marks a second increase in forecast during the fiscal year.

-Kunjan Sobhani, Bloomberg Intelligence Senior Semiconductor Analyst, recaps Nvidia earnings. The company announced sales will be about $65 billion in the January quarter, and a half-trillion-dollar revenue bonanza due in coming quarters may be even bigger than anticipated. Nvidia's CEO Jensen Huang acknowledged concerns about an AI bubble, but said "from our vantage point, we see something very different" and that the growing role of AI will help maintain demand for Nvidia's products.

-John Butler, Bloomberg Intelligence Senior Telecom Analyst, discusses layoffs at Verizon. Verizon Communications Inc. announced wide-ranging layoffs Thursday morning that will shrink the company by as much as 20% of its non-union workforce, a major step in a turnaround plan led by new Chief Executive Officer Dan Schulman. The largest wireless carrier in the US gave notice that it will begin by cutting more than 13,000 employees, according to an internal message Schulman sent to employees that was seen by Bloomberg News.

-Matt Henriksson, Bloomberg Intelligence Senior Medtech Analyst, discusses Abbott Laboratories agreeing to acquire cancer-screening company Exact Sciences Corp., in a deal with a total equity value of about $21 billion. In the biggest health-care deal in two years, Abbott will pay $105 per common share in cash, the companies said Thursday in a statement. The price represents a 51% premium to Exact Sciences’ closing price on Nov. 18, the last full trading day before Bloomberg reported that Abbott was nearing a deal.

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