Wall Street Breakfast Podcast: Walmart Turns Up Discounts

Walmart (WMT) implements price cuts across groceries and essentials at Walmart and Sam's Club, aiming to drive consumer traffic and value. Meta Platforms (META) faces $1.4 trillion in civil penalties from four states over alleged youth addiction and privacy violations, with a pivotal trial set for August. Samsung Electronics (SSNLF) projects a 19-fold surge in Q2 operating profit, but shares fall due to labor expenses and profit-taking despite strong AI chip demand. Crinetics Pharmaceuticals (CRNX) shares double after Vertex Pharmaceuticals announces an all-cash acquisition valued at $10B, closing expected in Q3 2026. Walmart (WMT) cuts prices. States want $1.4 trillion from Meta (META). Samsung (SSNLF) delivered, investors sold anyway. Walmart (WMT) is reducing the price of an array of grocery, household essentials, outdoor living, toys and apparel products. The price reductions will be at Walmart and Sam's Club. At Walmart the most significant discounts are for corn on the cob, which dropped to $0.25 from $0.68 each, and 2.25-pound bags of red cherries to $5.63 from $11.18. Ground beef dropped to $5.94 from $6.74, which is a 12% reduction. If you have a Sam’s Club membership, you’ll see lower prices on more than 250 items. That includes Member's Mark Bone-In Chicken Wings ($2.00/lb., was $2.88/lb.), Member's Mark Beef Hot Dogs ($10.86, was $12.96), Member's Mark 88/12 Ground Beef ($5.97/lb., was $6.17/lb.), and Member's Mark Whole Bone-In Pork Back Ribs ($3.18/lb., was $3.48/lb.), making it easier for members to fuel up, fire up the grill and save. President Trump praised the reductions in a post on social media urging other businesses to follow suit. Meta Platforms (META) said four U.S. states are seeking about $1.4T in civ...