Walmart exits JD.com
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 21 August 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Wednesday, August 21st. I'm Julie Morgan. |
| 0:13.6 | Walmart gets out of JD. |
| 0:15.7 | Weymo expands rapidly and microchip technology is hit with a cyber attack. |
| 0:22.2 | Walmart has disposed of its near 10% stake in JD.com. |
| 0:26.8 | The news disclosed in an exchange filing |
| 0:29.5 | sent the Hong Kong listed shares of the Chinese e-commerce firm down 9.6% on Wednesday. |
| 0:36.3 | J.D.com's US listed stock drop 9% after hours on Tuesday when reports of a block sale by Walmart surfaced and is down 7% pre-market. |
| 0:48.0 | Walmart told CNBC that the steak sale allows them to focus on their China operations for Walmart China and |
| 0:55.8 | Sam's Club and deploy capital towards other priorities. |
| 1:00.6 | JD.com separately said it conducted in around $390 million stock buyback and has fully |
| 1:07.0 | utilized the amount authorized under its $3 billion share repurchase program approved in March. |
| 1:13.7 | Walmart owned 9.4% of JD.com's total shares as of March 31st, making it the largest |
| 1:20.8 | holder of JD. |
| 1:23.0 | Alphabet's Weymo confirmed on Tuesday that the autonomous vehicle specialist has |
| 1:27.8 | surpassed 100,000 trips per week. |
| 1:30.8 | The trip volume is double what Wayymo reported in May. The company's chief |
| 1:35.3 | product officer said they hit the milestone by scaling deliberately, |
| 1:39.4 | optimizing costs, and delivering a strong consumer experience. |
| 1:44.2 | They went on to highlight that Waymo's approach of designing both hardware and software |
| 1:49.3 | from the ground up has been crucial to the early success and continues to pay off as the company introduces |
| 1:55.6 | sixth generation hardware. |
... |
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