Charles Grom of Sterne Agee CRT also commented on Wal-Mart's guidance. Of note, the analyst pointed out that Wal-Mart's roughly $20 billion commitment towards buybacks in the next two years implies "significant" margin contraction at a time when the company is expecting "modest" sales growth. Grom continued that Wal-Mart's announcement has affected the entire retail space as many stocks are seeing red. However, the analyst argued that Wal-Mart's guidance is "more company specific than it is related to overall macro conditions." Accordingly, he suggested that investors use the "intra-day weakness across the board" to accumulate positions in Buy-rated names including