Walmart Predicts Steep Drop in Earnings, Stocks Plunge

Big-box store Walmart predicted a sharp decline in their expected earnings next year due to the company's pledge to raise wages and lift online sales. The company expects its per-share profit to fall between 6 and 12 percent by fiscal year 2017. Shares of the company dropped over 9 percent in midday trading and the stock has declined almost 30 percent this year so far.