Good Thursday morning. Welcome to another hour to squawk on the street. I'm Carl

Kintanah with Michael Santoli here at Post 9 of the New York Stock Exchange. Sarah Eisen

has the morning off and we're going to see David Faber later on this hour interviewing Oracle

Safra Katz in Miami. Meantime backing further off of those all-time highs yesterday. Dow's down

330. We've lost 6,100. Walmart is a big story today as they do guide below, and as the pre-market

was on pace for one of the worst sessions since COVID. For sure. We are 30 minutes into the

trading session. Here are three big movers we are watching. Palantir under pressure,

alongside other defense names, The Washington Post, reporting that Defense Secretary Pete Hegesith

has told top Pentagon brass to prepare to cut the U.S. defense budget by 8% each year

for the next five years. That shares down 13% after actually selling off also late yesterday.

Alibaba shares higher posting a revenue beat thanks to strong growth in its cloud and e-commerce

segments, stock up 12 and a half percent.

And Walmart in the red, despite a top and bottom line beat, the retailer saying its profit

growth will slow in the current fiscal year.

CFO John David Rainey said Walmart

wouldn't be immune from looming tariffs on Mexico and Canada, even though the majority of its

goods are sourced in the U.S. stock down about almost 7 percent now. There's a look at Walmart.

Mike, as you've been mentioning, I think bespoke this morning said it's only g down 5% or more on earnings a few times since going popular, at least since the early 2000s.

It's kind of been in rare airspace. I think before this, many people mentioning it has been this kind of consensus momentum trade.

Well extended above, let's say, it's 50-day average, which is only in the 95s. So keep in mind,

yeah, it looks like a stiff pullback, but it was kind of in this, can't disappoint on any front

type of zone. And that's what's going on in this market today. A lot of the big leaders,

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