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Symbotic Soars 38% After Walmart Discloses 62.2% Stake
(RTTNews) - Shares in Symbotic, Inc. (SYM) are skyrocketing more than 38 percent in premarket trading on Tuesday after retail giant Walmart (WMT) revealed a 62.2 percent stake in the A.I.-powered supply chain technology company.
In a Schedule 13D filing with the U.S. Securities and Exchange Commission, Walmart said it has acquired 58.8 million shares in Symbotic.
Walmart has an ongoing commercial agreement with Symbotic to its robotics and software automation platform in all 42 of Walmart's regional distribution centers over the coming years.
Symbotic went public in a business combination with a special purpose acquisition company or SPAC two weeks ago.
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Walmart To Cut 1,500 Corporate Jobs In Cost-cutting Efforts
Amid a challenging retail environment, due to fierce competition along with ongoing tariff issues, retail behemoth Walmart Inc. is planning to cut around 1,500 corporate jobs in the United States as part of its restructuring, media reported citing a memo.
The multinational chain of hypermarkets, discount department stores, and grocery stores' efforts to simplify its operations...
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Walmart Recalls Marketside Fresh Cut Cucumber Slices
Retail giant Walmart Inc. has recalled Marketside branded Fresh Cut Cucumber Slices possibly made with recalled whole cucumbers supplied by SunFed Produce, LLC due to the potential for Salmonella contamination, according to the U.S. Food and Administration. The Marketside Fresh Cut Cucumber Slices, produced in select stores, were available at 34 Walmart stores located in Texas.
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Walmart Offers Thanksgiving Meal For Below $7/Person Through Dec. 25
Walmart Inc. officially launched its holiday meal, offering customers a Thanksgiving meal for less than $7 per person. The offer, which comes earlier than last year, and at an even lower price, is available from October 14 through December 25. Walmart said its inflation-free Thanksgiving meal would benefit customers, who want to begin saving earlier and throughout the holiday season.
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Walmart Holiday Deals Event On Oct. 8-13
Omnichannel retail giant Walmart Inc. is unveiling thousands of offers with consistently low prices, kicking off the holiday shopping season earlier than ever. The first Walmart Holiday Deals event of the season runs from October 8 to 13 with early access for Walmart+ members. The retailer has introduced earlier, longer windows for holiday savings across its wide range of assortment.
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Mattel's Fisher-Price Recalls 366K Dumbbell Toy
New York-based Fisher-Price Inc., owned by toymaker Mattel, Inc., has called back about 366,200 units of Dumbbell toy sold with Baby Biceps Gift Set citing choking hazard, according to the U.S. Consumer Product Safety Commission. In addition, about 37,850 units were sold in Canada. The recall involves the plastic dumbbell toy sold with the Fisher-Price Baby Biceps Gift Set with model number GJD49.
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Walmart+ Unveils Dining Benefit With Burger King
Omnichannel retail giant Walmart Inc. has joined with quick service hamburger chain Burger King for offering exclusive dining benefit for Walmart+ members. In a first-of-its-kind partnership, Walmart+ members, starting Today, will enjoy 25% off any Burger King digital order every day. Further, starting in September, members can receive a free flame-grilled Whopper every three months with...
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JD.com Stock Slips As Walmart Confirms Entire Stake Sale
Shares of JD.com Inc. traded down around 8 percent on the Hong Kong exchange and were losing more than 8 percent in the early morning trading on the Nasdaq after retail giant Walmart Inc. announced the sale of its entire stake in the Chinese e-commerce firm. Walmart expects the sale to help focus on its strong China operations for Walmart China and Sam's Club, and deploy capital towards other prio
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Walmart Sees Growth In Q3, Lifts FY25 View After Q2 Sales Rise; Stock Up
Shares of Walmart, Inc. were gaining around 8 percent in the pre-market activity on the NYSE after the retail behemoth on Thursday issued third-quarter guidance, expecting growth, and also raised its fiscal 2025 forecast. Meanwhile, adjusted earnings forecast for the third quarter is below the market estimates, and for fiscal 2025 is in line or below the Street view.
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