Walmart Inc. (NYSE:WMT) has announced plans to sell its stake in Chinese e-commerce giant and Alibaba-rival JD.com Inc. (NASDAQ:JD), causing JD.com's shares to plummet. This decision comes as Walmart shifts its focus towards its own operations in China, as per the SEC filing.
What Happened: Walmart aims to raise as much as $3.74 billion by selling its stake in JD.com, Reuters reported citing a person familiar with the matter. The American retail behemoth is reportedly offering 144.5 million American depositary shares priced between $24.85 and $25.85, with Morgan Stanley as the broker-dealer.
Following this announcement, JD.com's shares fell 7.66% to $26.03 in Wednesday's pre-market trading while Walmart showed a minimal hike of 0.34% around the same time, according to Benzinga Pro.
Despite being JD.com's largest shareholder, Walmart stated that it remains committed to a continued commercial relationship with JD.com.
Walmart, JD.com and Morgan Stanley have yet to respond to Benzinga's queries.
Why It Matters: Walmart's decision to sell its stake in JD.com comes on the heels of its recent earnings surprise, which created a great trade opportunity. The company exceeded expectations on both Earnings per Share ($.67 vs $.64 expected) and sales ($169.33B vs $168.56B), pushing the stock up about 8% since then.
Analysts have highlighted Walmart's market share gains and improving gross margins in the retailer's second-quarter earnings report, making it one of the most compelling retail investments.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
沃尔玛(纽交所:WMT)宣布计划出售其在中国电商巨头和阿里巴巴竞争对手京东(纳斯达克:JD)的股份,导致京东的股价暴跌。根据美国证券交易委员会的文件,这一决定是沃尔玛将重心转向其在中国的自营业务。
据路透社报道,沃尔玛计划通过出售京东的股票筹集最高3.74亿美元,价格区间在24.85美元至25.85美元之间,摩根士丹利是经纪交易商。
根据Benzinga Pro的数据,此消息发布后,周三美股盘前京东股价下跌了7.66%,至26.03美元,而沃尔玛股价在相同时间只有0.34%的小幅上涨。
尽管是京东最大的股东,但沃尔玛表示仍致力于与京东保持持续的商业关系。
沃尔玛、京东和摩根士丹利尚未回复Benzinga的查询。
为何重要:沃尔玛决定出售其在京东的股份,此前该公司发布了令人惊喜的业绩,为交易提供了良好机会。该公司的每股收益(0.67美元,预期为0.64美元)和销售额(1693.3亿美元,预期为1685.6亿美元)均超出了预期,推动了股票的上涨约8%。
分析师在零售商第二季度的财报中强调了沃尔玛的市场份额增长和毛利率改善,使其成为最具吸引力的零售投资之一。
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图片来自shutterstock。
本报道使用Benzinga Neuro生成,并由Pooja Rajkumari编辑