Shares of Walmart Inc. shot up 7.7% in premarket trading Tuesday, in the wake of better-than-expected fiscal third-quarter results and the $3 billion opioid settlement, enough to pace the Dow Jones Industrial Average's gainers ahead of the open. The implied premarket price gain would add about 70 points to the Dow's price, while Dow futures climbed 377 points, or 1.1%. The discount retail behemoth's stock rally is on track for the biggest one-day gain since it soared 11.7% on March 17, 2020. It is also headed for the biggest one-day post-earnings gain since it jumped 9.3% on Aug. 16, 2018, after results for the fiscal second-quarter of 2018 were reported. Walmart's stock, which was on track to open at the highest price seen during regular-session hours since May 16, had gained 4.4% over the past three months through Monday, while the SPDR Consumer Staples Select Sector ETF has lost 4.4% and the Dow has slipped 1.1%.
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