business news in context, analysis with attitude

• The Huffington Post reports that Walmart is "railing against" Bloomberg News because of a story the news service ran last week about how the retailer was cutting Q3 and Q4 orders as a way of compensating for too much inventory on hand.

According to the piece, "Renee Dudley of Bloomberg News reported on Wednesday that Walmart was cutting orders to suppliers for the current quarter and in the coming months because the retailer's inventory currently outstrips demand for merchandise. The story followed on several reports from Bloomberg that have tracked Walmart's struggling sales ... Investors took the latest Bloomberg report as a sign that Walmart was still having trouble, and shortly after the story was published, Walmart’s stock tanked.
After Walmart rebuked Dudley's report on CNBC on Wednesday, the retailer's share price recovered about 3 percent."

Walmart has called the reporting "thin," and suggested that the reporter has an agenda in writing about the company. Bloomberg says it stands by Dudley's reporting.
KC's View:
I tend to believe the reporter. But that's my bias.