Why KLA-Tencor, Lam Research, JD.Com And More Are Trending

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Not long after it closed on its approximately $3.3 billion acquisition of Jet.com and bought a stake in Indian retailer Flipkart, Wal-Mart Stores, Inc. (NYSE:WMT) has expanded its e-commerce presence again, this time by raising its ownership stake in Chinese e-commerce company JD.Com Inc(ADR) (NASDAQ:JD). According to SEC filings, Wal-Mart now owns around 265 million shares in China’s second-largest e-commerce company, giving it ownership of 10.8% of the company’s class A shares. That compares to the 5.9% stake in JD.com’s class A shares that Wal-Mart owned as of June 20. JD.com’s shares have jumped by over 5% in after-hours trading on the news.

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Wal-Mart spokesperson Jo Warner said:

“The stepped-up investment in JD has been part of our plan, as we continue to be a passive investor. We believe this strategic alliance will help us grow e-commerce even faster in China.”

58 funds tracked by Insider Monkey were bullish on Wal-Mart Stores, Inc. (NYSE:WMT) at the end of June, while 51 had long positions in JD.Com Inc(ADR) (NASDAQ:JD).

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Disclosure: None

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