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Amazon.com Inc passes Wal-Mart as world’s biggest retailer by market value as stock soars

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Amazon.com Inc. surpassed Wal-Mart Stores Inc. as the world\’s biggest retailer by market value after a surprise second-quarter profit sent the e-commerce company\’s stock into record territory. Amazon shares rose as much as 19 per cent to $573.45 in after-market trading on Thursday, giving the Seattle-based company a value of about $267 billion. That compares with Wal-Mart\’s $233.5 billion market ...

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