BABA200117P00275000

OPR - OPR Delayed price. Currency in USD
108.90
0.00 (0.00%)
As of 12:14AM EDT. Market open.
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Previous close108.90
OpenN/A
Bid94.35
Ask95.55
StrikeN/A
Expiry date2020-01-17
Day's range108.90 - 108.90
Contract rangeN/A
VolumeN/A
Open interestN/A
  • Alibaba Debuts Shares in Hong Kong: BABA Implications
    Zacks

    Alibaba Debuts Shares in Hong Kong: BABA Implications

    This stock has a lot of upside potential, with the looming trade war being the only hampering its surge.

  • Amazon Throws Spaghetti at the Grocery Wall
    Bloomberg

    Amazon Throws Spaghetti at the Grocery Wall

    (Bloomberg Opinion) -- Amazon.com Inc. loves to tinker and test. Sometimes projects that seemed like mindless fiddling — the Kindle e-reader, the Prime shopping club, its Amazon Web Services cloud-computing operation — turned out to be important advances for the company, its customers and the technology industry.Despite that history, I have to ask: Does Amazon know what it’s doing in groceries?When Amazon agreed to buy the Whole Foods supermarket chain for nearly $14 billion more than two years ago, it was regarded largely as a bold masterstroke. Groceries and other household goods are a magical category of consumer spending, with close to $1 trillion spent in the U.S. each year. The combination of large spending, the frequency of grocery shopping and its relative lack of e-commerce penetration has made groceries a prime (pun intended) target for Amazon, China’s Alibaba Group Holding Ltd. and other new economy giants.So far, Amazon’s serious foray into groceries is marked by head-scratching tactics and middling financial and strategic performance. It’s still early in the supermarket era for Amazon, and it’s never wise to count the company out. Still, unlike Amazon’s history of wild experiments that became wild successes, the company doesn’t have the field of grocery innovation entirely to itself. And it remains unclear whether Amazon has a novel or sensible idea to take grocery shopping in a fresh direction. For now, Amazon has a growing grocery sprawl. Customers can buy groceries and household goods from Amazon in a tangle of spots: its eponymous website; Prime Pantry, a separate shopping club for bulky household goods; the 12-year-old Amazon Fresh grocery delivery service that is expanding; Whole Foods and its separate and expanding delivery operation; the Prime Now delivery service for orders in some cities in one or two hours; Amazon’s couple dozen Go convenience stores without cashiers; a different supermarket chain that Amazon is starting from scratch; a couple of drive-in grocery pickup kiosks in the Seattle area; and — if you’re not exhausted yet reading this list— Bloomberg News reported Wednesday that Amazon wants to take the cashier-less Go technology into larger, supermarket-sized stores.There may be a method to Amazon’s grocery madness. For now, it just looks like madness.The company’s most established grocery operation, Fresh, has languished for years. Amazon has made sensible changes at the 500-store Whole Foods chain, but there have been few of the earth-shattering retail innovations that people expected or feared at the time of that acquisition. And Amazon, which has had patchy success with online shopping outside the U.S., has a largely parochial supermarket operation.Investors barely press Amazon to explain its performance and strategy with Whole Foods and its other food initiatives, and Amazon has obliged by not saying much. Amazon’s limited financial disclosures are enough to make me wonder whether groceries sales at U.S. market leader Walmart are growing faster than those at Amazon’s relatively pipsqueak operation.Amazon’s reported third-quarter revenue growth for its physical stores, which include Whole Foods, Go stores and Amazon’s collection of bookstores — declined 1% from a year earlier after adjustments for movements in foreign currencies. This growth figure excludes Whole Foods delivery orders or purchases made for pickup in stores — fast-growing categories of grocery spending.Amazon in previous quarters provided adjusted figures that indicated its physical stores’ revenue growth was closer to 5% to 6% including online and pickup orders. Walmart in the third quarter said its U.S. grocery operation recorded a “mid-single-digit” percentage comparable sales growth — roughly the same range, you’ll notice, as Amazon’s earlier growth figures.The strategic and financial costs for Amazon’s grocery initiatives are enormous. Whole Foods was by far Amazon’s largest acquisition in its history. My Bloomberg News colleagues previously reported that Amazon has spent hundreds of millions of dollars on Go stores, and that may be a lowball figure. In Wednesday’s article, Bloomberg reported that some of the 1,000 or so people working on Go were recently told their cumulative salaries have totaled more than $1 billion since the project started in 2012.A larger, suburban-sized grocery store is what Amazon originally imagined for its cashier-less Go stores before deciding that megamarkets were overly ambitious. The smaller-format Go stores certainly have received much attention — and they are the genuinely novel idea that Amazon hasn’t showed in its other physical store attempts. Still, it’s hard to call the Go stores a success so far, and Amazon has been less ambitious with their rollout than it planned initially.The sophisticated technology behind shopping with as little human interaction as possible is a promising idea, and it could be licensed to non-Amazon supermarkets or other retail stores, as Amazon, Microsoft Corp. and other technology companies are trying. I do wonder whether retailers that compete with Amazon — essentially all retailers these days — will be willing to pay to use technology from a competitor. Those fears, and the response by technology companies and grocers to Amazon’s push into food sales, are among the signs that Amazon may have less time to tinker than it did in the past. It’s the company that everyone else watches closely, to immediately imitate or respond to what it is doing. Amazon has a long leash from investors to figure out tactics that will give the company a crack at an enormous chunk of people’s wallets. The experience of shopping for groceries definitely could use fresh ideas and approaches. I’m just not convinced that Amazon has them.To contact the author of this story: Shira Ovide at sovide@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Alibaba on track to raise £10bn in Hong Kong listing
    The Guardian

    Alibaba on track to raise £10bn in Hong Kong listing

    Alibaba on track to raise £10bn in Hong Kong listing. E-commerce group plans to sell 500m shares in biggest offering across global markets this year

  • Amazon Expands Deal With Salesforce, Gains Competitive Edge
    Zacks

    Amazon Expands Deal With Salesforce, Gains Competitive Edge

    AWS, Amazon's (AMZN) robust cloud platform, extends global partnership with Salesforce.com in a bid to further bolster its cloud offerings.

  • China's Pinduoduo posts bigger loss as costs surge; shares tumble
    Reuters

    China's Pinduoduo posts bigger loss as costs surge; shares tumble

    The company was started just four years ago but has been described by analysts as a disruptor to the dominance of Alibaba Group Holding Ltd's Taobao and JD.com Inc over China's retail sector thanks to its popularity among the country's rural residents. "We continued to invest in our users throughout the third quarter, and stepped our marketing up a notch from the second half of September," Chief Executive Officer Huang Zheng said in a statement. The company, which gained a following in China by strategies such as offering consumers deeper discounts on mostly generic products if they buy in groups, also blamed the larger-than-expected loss on the so-called "choose one from two" practices.

  • Alibaba Raises $11 Billion in Biggest Hong Kong Listing Since 2010
    Bloomberg

    Alibaba Raises $11 Billion in Biggest Hong Kong Listing Since 2010

    (Bloomberg) -- Alibaba Group Holding Ltd. has raised about HK$88 billion ($11.2 billion) in its Hong Kong share sale, marking the biggest equity offering in the financial hub since 2010.The company confirmed that it has priced 500 million new shares at HK$176 each in a statement on Wednesday. The price represents a 2.9% discount to the last close of Alibaba’s American depository shares in New York, with each equal to eight ordinary shares of the internet company. This Hong Kong share sale is also one of the largest globally this year.The mega share sale comes as Hong Kong’s economy has been hurt by months of increasingly violent protests and growing anti-China sentiment. Alibaba’s return will please Chinese officials who’ve watched many of the country’s largest private firms flock overseas for capital. With a Hong Kong listing in sight, Alibaba will challenge Tencent Holdings Ltd. for the title of the largest listed corporation in the city.Why Now, and Why Hong Kong, for Alibaba’s Share Sale?: QuickTakeAlibaba has allocated more shares for individual investors, raising the ratio to 10% from 2.5% of the total offering, people familiar with the matter said, who asked not to be identified as the details are private. The company has an over-allotment option to sell an additional 75 million shares.The firm is planning to have its shares start trading Nov. 26 on the Hong Kong exchange under the ticker 9988. Eight is an auspicious number in Chinese culture.Hong Kong is no stranger to Alibaba as the tech giant once listed its business-to-business platform in the city in 2007. Shares of Alibaba.com tripled at debut on overwhelmingly strong investor demand for technology companies. The enthusiasm didn’t last and the stock plunged later. Alibaba took the platform private in 2012 at HK$13.5 each, which was the IPO offer price five years earlier.In 2014, Alibaba listed its shares in New York in the biggest ever initial public offering. After losing some of China’s brightest technology stars, Hong Kong started looking into allowing dual-class shares. Last year, the city’s bourse introduced new rules to accommodate the structure. The efforts to lure Alibaba went all the way to the top of Hong Kong’s government, with Chief Executive Carrie Lam exhorting billionaire Jack Ma to consider a share sale in the financial hub.A listing in Hong Kong brings Alibaba closer to its home market as well as Chinese investors. The company could become eligible for trading via the two links with China, which allows investors on the other side of the border to buy and sell shares listed in the former British colony.Read: Alibaba Won’t Join Hong Kong’s Stock Benchmark Any Time SoonAlibaba is “hopeful to be eligible in the future,” its head of investor relations Rob Lin said on an investor call last week.“The key element as to why this listing here in Hong Kong could be an advantage is the stock connect,” Ken Wong, a Hong Kong-based Asian equity portfolio specialist at Eastspring Investments Hong Kong Ltd., said on Bloomberg Television. “Once Alibaba’s in the stock connect, you have a lot of mainland Chinese investors who can finally start to invest in Alibaba.”Credit Suisse Group AG and China International Capital Corp. are the joint sponsors of the share sale. Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley are also arranging the deal.\--With assistance from Julia Fioretti.To contact the reporters on this story: Carol Zhong in Hong Kong at yzhong71@bloomberg.net;Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.net;Crystal Tse in New York at ctse44@bloomberg.netTo contact the editors responsible for this story: Fion Li at fli59@bloomberg.net, Peter ElstromFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Business Wire

    Alibaba Group Announces Pricing of Global Offering

    The final offer price for both the international offering and the Hong Kong public offering (the “Offer Price”) has been set at HK$176 per Share. The Company has set the Offer Price by taking into consideration, among other factors, the closing price of the ADSs on November 19, 2019 (the latest trading day before pricing).

  • Alibaba raises up to $12.9 billion in landmark Hong Kong listing
    Reuters

    Alibaba raises up to $12.9 billion in landmark Hong Kong listing

    Chinese e-commerce giant Alibaba Group raised up to $12.9 billion in a landmark listing in Hong Kong, the largest share sale in the city in nine years and a world record for a cross-border secondary share sale. The deal will be seen as a boost to Hong Kong following more than five months of anti-government protests and its recent slide into its first recession in a decade. Alibaba said in a statement it had priced the shares at HK$176 ($22.49) each, a discount of 2.9% to its New York closing price, confirming information earlier reported by Reuters.

  • Business Wire

    Alibaba Cloud Powered $1B of GMV in 68 Seconds, with Zero Downtime During 11.11

    Cloud infrastructure, AI-enabled tech underpinned $38B GMV in 24-hour global shopping spree

  • Investing.com

    Alibaba Seeks to Raise $11B in Mega Hong Kong Stock Offering

    Investing.com - Alibaba Group Holdings Ltd (NYSE:BABA) is looking to price its shares at HK$176 each and raise about HK$88 billion ($11 billion) in a mega Hong Kong stock offering, Bloomberg reported on Wednesday citing people with knowledge of the matter.

  • China's Megvii seeks approval for Hong Kong IPO despite U.S. blacklist - sources
    Reuters

    China's Megvii seeks approval for Hong Kong IPO despite U.S. blacklist - sources

    Chinese artificial intelligence firm Megvii Technology Ltd plans to seek listing approval on Thursday for a Hong Kong IPO of at least $500 million, people with knowledge of the matter said, despite being blacklisted by the U.S. government. Sources had previously told Reuters the listing was scheduled for Hong Kong in the fourth quarter and might raise as much as $1 billion. The latest move comes weeks after the U.S. government placed Megvii and seven other Chinese companies on a trade blacklist over their alleged involvement in human rights violations related to Beijing's repression of Muslim minority populations in the Xinjiang Uighur Autonomous Region.

  • China's Megvii seeks approval for Hong Kong IPO despite U.S. blacklist: sources
    Reuters

    China's Megvii seeks approval for Hong Kong IPO despite U.S. blacklist: sources

    Chinese artificial intelligence firm Megvii Technology Ltd plans to seek listing approval on Thursday for a Hong Kong IPO of at least $500 million, people with knowledge of the matter said, despite being blacklisted by the U.S. government. Sources had previously told Reuters the listing was scheduled for Hong Kong in the fourth quarter and might raise as much as $1 billion. The latest move comes weeks after the U.S. government placed Megvii and seven other Chinese companies on a trade blacklist over their alleged involvement in human rights violations related to Beijing's repression of Muslim minority populations in the Xinjiang Uighur Autonomous Region.

  • Asian Traders Shrug-Off Trade Deal Concerns; Alibaba Listing Boosts Hang Seng; Aussie Shares Up on Rate Cut Hopes
    FX Empire

    Asian Traders Shrug-Off Trade Deal Concerns; Alibaba Listing Boosts Hang Seng; Aussie Shares Up on Rate Cut Hopes

    Hong Kong’s Hang Seng Index rose sharply for a second session this week on the hopes of fresh government stimulus and the news that Alibaba will close its order books to institutional investors early for its upcoming secondary listing in Hong Kong. The Australian share market rallied after it was revealed the Reserve Bank gave serious consideration earlier this month to cutting rates for a fourth time this year.

  • Alibaba to close books early in $13.4 billion Hong Kong listing after strong demand: sources
    Reuters

    Alibaba to close books early in $13.4 billion Hong Kong listing after strong demand: sources

    Alibaba will stop taking orders from prospective institutional investors for its $13.4 billion secondary listing in Hong Kong earlier than expected after attracting strong demand, two people with direct knowledge of the matter said. Order books will now close on Tuesday at 12 p.m. in New York (1700 GMT), half a day earlier than initially planned by the Chinese e-commerce giant and its investment banking advisers. The final price that institutional investors will pay will still be set by Wednesday evening Hong Kong time, based on Tuesday's closing price in New York, they added.

  • Amazon Brings Third-Party Data Access to AWS Marketplace
    Zacks

    Amazon Brings Third-Party Data Access to AWS Marketplace

    Amazon (AMZN) to gain traction among customers and qualified data providers with its latest service, AWS Data Exchange.

  • The Zacks Analyst Blog Highlights: Alibaba, The Buckle, Boot Barn, Pinduoduo and Tempur Sealy International
    Zacks

    The Zacks Analyst Blog Highlights: Alibaba, The Buckle, Boot Barn, Pinduoduo and Tempur Sealy International

    The Zacks Analyst Blog Highlights: Alibaba, The Buckle, Boot Barn, Pinduoduo and Tempur Sealy International

  • Alibaba's books close early in $13.4 billion Hong Kong listing: sources
    Reuters

    Alibaba's books close early in $13.4 billion Hong Kong listing: sources

    Alibaba will close its order books early to prospective institutional investors as part of its $13.4 billion secondary listing in Hong Kong, according to two people with direct knowledge of the matter. Books will now be shut at 12 p.m. EST Tuesday in New York which is a half day earlier than initially planned by the Chinese e-commerce giant and its investment banking advisers. The decision was made by the company on Monday, and the final price will still be set by Wednesday evening, Hong Kong time, according to the sources.

  • Aramco’s IPO Becomes a Saudi Affair as London Roadshow Scrapped
    Bloomberg

    Aramco’s IPO Becomes a Saudi Affair as London Roadshow Scrapped

    (Bloomberg) -- Saudi Aramco set a valuation target for its initial public offering well below Crown Prince Mohammed bin Salman’s goal of $2 trillion and pared back the size of the sale after the government decided to make the deal an almost exclusively Saudi affair.The initial public offering will now rely on local investors after most international money managers balked at even the reduced price target. The deal won’t be marketed in the U.S., Canada or Japan and on Monday bankers told investors roadshow events in London and other European cities, planned for this week, were canceled.Aramco will sell just 1.5% of its shares on the local stock exchange, about half the amount that had been considered, and seek a valuation of between $1.6 trillion and $1.71 trillion. As well as slimming down the deal, the Saudi authorities relaxed lending limits to ensure sufficient local demand to get the share sale done.While the new valuation means Aramco will overtake Apple Inc. as the world’s biggest public company by some distance, the plans are a long way from Prince Mohammed’s initial aims: a local and international listing to raise as much as $100 billion for the kingdom’s sovereign wealth fund.At the lower end of the price range, the offer would fall short of a record, coming in just below the $25 billion raised by Alibaba Group Holding Ltd. in 2014.Aramco Chief Executive Officer Amin Nasser kicked off the IPO’s final phase at a presentation for hundreds of local fund managers in Riyadh on Sunday.This is “a historic day for Saudi Aramco,” Nasser said. “We are excited about the transition to being a listed company.”With the offer price putting Aramco’s maximum valuation at about $1.7 trillion, there should be room for investors to make some money, said one local investor, who like all the people attending asked not to be identified.Aramco will need to lean heavily on local investors, large and small, to get the job done. The Saudi Arabian Monetary Authority will allow smaller retail investors to borrow twice their cash investment, double the normal leverage limits the regulator allows for IPOs, according to people familiar with matter.The kingdom’s richest families, some of whom had members detained in Riyadh’s Ritz-Carlton hotel during a so-called corruption crackdown in 2017, are expected to make significant contributions to the IPO.Cornerstone InvestorsThe final version of the prospectus didn’t identify any cornerstone investors, though the company is still in talks with Middle Eastern, Chinese and Russian funds.Foreign investors had always been skeptical of the $2 trillion target and recently suggested they would be interested at a valuation below $1.5 trillion. That would offer a return on their investment close to other leading oil and gas companies like Exxon Mobil Corp. and Royal Dutch Shell Plc.The new valuation implies Aramco, which has promised a dividend of at least $75 billion next year, will reward investors with a yield of between 4.4% and 4.7%. That compares with just under 5% for Exxon Mobil and 6.4% for Shell.“Institutional investors are unlikely to find this valuation range attractive,” analysts at Sanford C. Bernstein said in a research note Sunday, adding that the price range implies a premium to Western oil majors on most metrics, including price-to-earnings and free cash flow yield. “Cornerstone investors, sovereign wealth funds and local investors could still provide enough support to support the IPO given some of the strategic interests.”Saudi Arabia has been pulling out all the stops to ensure the IPO is a success to a skeptical audience. It cut the tax rate for Aramco three times, promised the world’s largest dividend and offered bonus shares for retail investors who keep hold of the stock.“Aramco’s price range takes into account some uncertainties that weren’t fully absorbed when the IPO was first floated,” such as governance, said Jaafar Altaie, managing director of Abu Dhabi-based consultant Manaar Group. “The lower range reflects uncertainties. It takes into account issues of supply that are very fluid, and demand that doesn’t look so good now.”Aramco has also faced the challenge of the strengthening global movement against climate change that’s targeted the world’s largest oil and gas companies. Many foreign investors are concerned the shift away from the internal combustion engine -- a technology that drove a century of steadily rising fossil fuel demand -- means consumption of oil will peak in the next two decades.Speaking in Riyadh on Sunday, Nasser acknowledged the prospect of peak demand, but argued that with the lowest production costs in the industry, Aramco would be able to win market share from less-efficient producers.The IPO is a pillar of Prince Mohammed’s much-hyped Vision 2030 plan to change the social and economic fabric of the kingdom and attract foreign investment. The prince, who rules Saudi Arabia day-to-day, is trying to recover his reformist credentials after his global reputation was damaged by the 2018 assassination of government critic Jamal Khashoggi in the kingdom’s Istanbul consulate.Proceeds from the IPO will be transferred to the Public Investment Fund, which has been making a number of bold investments, plowing $45 billion into SoftBank Corp.’s Vision Fund, taking a $3.5 billion stake in Uber Technologies Inc. and planning a $500 billion futuristic city.No matter what the final valuation, the share sale will create a public company of unmatched profitability. Aramco earned a net income of $111 billion in 2018 on revenue of $315 billion.\--With assistance from Nayla Razzouk, Abbas Al Lawati, Filipe Pacheco, Archana Narayanan, Dinesh Nair, Ramsey Al-Rikabi, Jack Farchy and Swetha Gopinath.To contact the reporters on this story: Matthew Martin in Dubai at mmartin128@bloomberg.net;Javier Blas in London at jblas3@bloomberg.netTo contact the editors responsible for this story: Nayla Razzouk at nrazzouk2@bloomberg.net, ;Stefania Bianchi at sbianchi10@bloomberg.net, Bruce StanleyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Huge Gains in Alibaba's Hong Kong Debut Doubtful, Eastspring's Wong Says
    Bloomberg

    Huge Gains in Alibaba's Hong Kong Debut Doubtful, Eastspring's Wong Says

    Nov.19 -- Ken Wong, Asian equity portfolio specialist at Eastspring Investments, talks about Alibaba Group Holding Ltd.'s Hong Kong stock offering, and the implications for Tencent Holdings Ltd. He speaks with David Ingles and Tom Mackenzie on "Bloomberg Markets: China Open."

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