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Stockwatch: Wal-Mart Stores, Inc. (NYSE:WMT), Community Trust Bancorp, Inc. (NASDAQ:CTBI), Lockheed Martin Corporation (NYSE:LMT)

Stockwatch: Wal-Mart Stores, Inc. (NYSE:WMT), Community Trust Bancorp, Inc. (NASDAQ:CTBI), Lockheed Martin Corporation (NYSE:LMT)
Written by
Joel Najarian
Published on
October 15, 2014
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Wal-Mart Stores, Inc. (NYSE:WMT) President and CEO Doug McMillon said the retailer plans to reduce investment in new stores and will instead increase spending on e-commerce to meet changing customer needs. "In the past, we've tended to roll up our plans from markets and segments, but this year we've started with an enterprise-wide approach. The internet, mobile, data and technology present opportunities across the world and across our businesses to better serve the changing customer," he said. "We've taken a fresh look at where we want to play - what businesses, markets, formats, and services we need and how to win - what our customer value proposition should be." McMillon was speaking at the company's 21st annual investor meeting. Wal-Mart Stores, Inc. (NYSE:WMT) shares are trading with a 52-week range of $71.69 - $81.37.Community Trust Bancorp, Inc. (NASDAQ:CTBI), a bank-holding company operating in Kentucky, West Virginia and Tennessee, Wednesday reported Q3 earnings below the consensus estimate of two analysts, hurt by an increase in its loan-loss provision. Community Trust Bancorp, Inc. (NASDAQ:CTBI) dropped 4.5% to $34.12 in recent trading shortly after the open, nearing the low end of its 52-week range of $32.33 to $42.07. The bank's Q3 net income was $10.9 million, or $0.63 per diluted share, down from $12.7 million, or $0.73 per diluted share, a year earlier. Two analysts polled by Capital IQ had projected a profit of $0.69 per share, on average.Revenue--net interest income plus noninterest income--totaled $45 million, versus $46.2 million a year earlier. One analyst polled by Capital IQ had projected $44.4 million. The company recorded a $3.3 million loan-loss provision in the latest quarter, up from a $2.1 million provision in Q3 2013. Its return on average assets declined to 1.18% in Q3 2014, from 1.33% in Q2 2014 and 1.38% in Q3 2013. Meanwhile, its return on average equity slid to 9.89% in the latest quarter, from 11.32% in the previous quarter and 12.39% in the year-earlier quarter.Lockheed Martin Corporation (NYSE:LMT) said Wednesday it was awarded a contract worth $124.6 million to manufacture ground components for the U.S. military's Terminal High Altitude Area Defense program. The company will produce THAAD launchers, support equipment, fire control, communication spares and launcher spares for the program, which is designed to counter ballistic missiles. Work will begin in 2016 in Dallas and Lufkin, Tex., Huntsville, Ala., Ocala, Fla., Sunnyvale, Cali., and Camden, Ark. and is scheduled to be finished in 2017. Lockheed shares fell 0.6% to $175 in pre-market trading on Wednesday. Lockheed Martin Corporation (NYSE:LMT) has traded in a range from $125.08 to $184.09 a share in the past 52 weeks.

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