Today's financial news

WEDNESDAY 21st Aug

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Walmart dumps JD.com shares, Palo Alto stock soars, and Boeing faces new crisis

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Walmart sells JD.com shares  

Walmart has sold its JD.com shares, causing the stock to drop 8% during Wednesday's trading in Hong Kong. The $3.6 billion sale was made at a price 11% below the U.S. closing price. This move impacted other Chinese tech stocks, leading to a 0.7% dip in the Hang Seng Index. While Walmart's stock has climbed 41% this year, JD.com was down 2.4% before the sale.

Palo Alto stock soars 

Palo Alto Networks' stock jumped 7.2% on Tuesday after reporting earnings that beat expectations. The cybersecurity company also announced a $500 million share buyback, boosting investor enthusiasm. The strong results prompted analysts to raise their outlook on Palo Alto, further driving the stock higher.

Boeing faces new setback  

Boeing is in trouble again after cracks were found in its 777X model during a test flight, causing the stock to fall 4.2%. The company has halted all flights of the model to fix the issue. This adds to Boeing's ongoing struggles, including the 737-Max crashes, leading to a 24% drop in its stock over the past year.  

Sources: Euroinvestor

Edith Davis