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
沃爾瑪公司(紐約證券交易所代碼:WMT)宣佈計劃出售其在中國電子商務巨頭和阿里巴巴的競爭對手京東(納斯達克股票代碼:JD)的股份,導致京東股價暴跌。根據美國證券交易委員會的文件,這一決定是在沃爾瑪將重點轉移到自己在中國的業務之際做出的。
發生了什麼:路透社援引一位知情人士的話報道,沃爾瑪的目標是通過出售其在京東的股份來籌集多達37.4億美元的資金。據報道,這家美國零售巨頭正在發行14450萬股美國存托股票,價格在24.85美元至25.85美元之間,摩根士丹利是經紀交易商。
根據Benzinga Pro的數據,宣佈這一消息後,京東股價在週三的盤前交易中下跌7.66%,至26.03美元,而沃爾瑪大約在同一時間小幅上漲0.34%。
儘管是京東的最大股東,但沃爾瑪表示仍致力於與京東保持持續的商業關係。
沃爾瑪、京東和摩根士丹利尚未回應本辛加的詢問。
爲何重要:沃爾瑪決定出售其在京東的股份,是在其最近的盈利出人意料之後做出的,這創造了絕佳的交易機會。該公司的每股收益(0.67美元,預期爲0.64美元)和銷售額(1693.3億美元對168.56億美元)均超出預期,自那時以來該股上漲了約8%。
分析師在該零售商的第二季度業績中強調了沃爾瑪的市場份額增長和毛利率的提高,使其成爲最具吸引力的零售投資之一。
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圖片來自 Shutterstock
這個故事是使用 Benzinga Neuro 創作的,由 Pooja Rajkumari