Amazon's value surpasses Wal-Mart after surprise 2Q profit, but still not in top 10 of S&P 500

StocksAssociated Press

Amazon surpassed the world's largest retailer, Wal-Mart Stores Inc., in market value Friday, on the back of a strong earnings report. Amazon shares closed up nearly 10 percent, giving the Seattle company a market value of $247.77 billion, versus $230.53 billion for Wal-Mart.

A company's market value is calculated by multiplying the number of shares of stock it has in circulation by the current price of one share.

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Here's the list of the top 15 companies in the benchmark S&P 500 index, followed by their market value:

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Source: FactSet