The steady two-dimensional stagnation-point flow and heat transfer past a permeable stretching/shrinking sheet with effects of viscous dissipation, Joule heating and partial velocity slip in the presence of a magnetic field is investigated. The partial differential equations are reduced to nonlinear ordinary differential equations by using a similarity transformation, before being solved numerically by shooting technique. Results indicate that the skin friction coefficient and the local Nusselt number increase as magnetic parameter increases. It is found that for the stretching sheet the solution is unique while for the shrinking sheet there exist nonunique solutions (dual solutions) in certain range of parameters. The stability analysis shows that the upper branch solution is stable while the lower branch solution is unstable.