0644 GMT - JD.com is one of the most mentioned companies in the news over the past 12 hours, according to Factiva data, after it outpaced earnings estimates for the first quarter. The e-commerce giant reported Thursday after the Hong Kong bourse closed that it swung to a profit compared with a loss in the first quarter last year and forecast "encouraging trends" for the second quarter. The Beijing-based company also said that Chief Executive Lei Xu will retire due to personal reasons next month, and named Chief Financial Officer Sandy Ran Xu as his replacement. Citi analysts said the surprise move was unlikely to change operations. Shares rose by as much as 8.1% in Hong Kong on Friday and were last up 6.7%. Dow Jones & Co. owns Factiva. (jacques.vanwersch@wsj.com)

(END) Dow Jones Newswires

May 12, 2023 02:59 ET (06:59 GMT)

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