@WalmartLabs, which is the technology division of Wal-Mart Stores Inc. (WMT) has acquired Small Society, the mobile agency in Portland. However, financial terms of the deal were not disclosed.

Small Society helps organizations create, develop and launch iOS products and services for iPhone, iPad and iPod touch. It has already developed applications for organizations such as the Democratic National Committee, Zipcar, Whole Foods Market, Inc. (WFM) and Starbucks Corporation (SBUX).

This is the fourth acquisition of @WalmartLabs. It had earlier bought Kosmix for $300 million in April 2011. It had also purchased mobile point-of-sale application maker Grapple and a location-aware mobile ad company OneRiot.

With the help of this acquisition, Wal-Mart will be able to create stores with online search and social media input, which will provide a great shopping experience for the customers.

Earlier, Wal-Mart had also delivered better-than-expected third-quarter 2012 results of 97 cents per share in mid-November, surpassing the prior-year earnings of 90 cents a share. However, the results were in line with the Zacks Consensus Estimate and within the company’s guidance range of 95 cents to $1.00 per share.

Based on the strong results in the third quarter and the economic environment in the United States and the world, management estimates that fourth -quarter 2012 earnings per share from continuing operations will be in the range of $1.42 to $1.48 compared with $1.41 in the last year, including a tax benefit of approximately 7 cents per share.

For fiscal year 2012, Wal-Mart expects its EPS guidance in the range of $4.45 to $4.51 compared with last year’s full-year EPS of $4.18, which included approximately 11 cents per share for non-recurring items.

Wal-Mart, which faces stiff competition from Target Corp. (TGT) and Costco Wholesale Corporation (COST), currently, has a Zacks #3 Rank, implying a short-term Hold recommendation. Over the long-term, we recommend a Neutral rating on the stock.

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