Wal-Mart Breaks Rank
The post-earnings rally in Wal-Mart Stores Inc. drove shares to the highest price ever relative to a key support level. They sold for as much as $99.68, about $15.17 more than the 50-day moving average. The stock has historically cleaved closely to that line, with the spread averaging 25 cents over the past five years. The world’s largest retailer gained momentum Thursday, surging as much as 11 percent to a record after reporting earnings that analysts said show it’s successfully fending off challenges from the likes of Amazon.com Inc., Lidl Ltd. and Aldi Stores Inc.