|Day's range||62.20 - 62.20|
(Bloomberg) -- As famed money manager Michael Burry made headlines boosting bullish bets on stocks including Alibaba Group Holding Ltd. in the first quarter of this year, other top hedge funds were also piling in. Most Read from BloombergWorld’s Most Valuable Chipmaker Nvidia Unveils More AI Products After $184 Billion RallyDebt-Limit Deal Brings Relief Tinged by Caution: Markets WrapManchin Gets Mountain Valley Pipeline Deal Into Debt BillTraders Ready to Embrace Riskier Assets After Debt-Cap D
In this video, I will go over Pinduoduo's (NASDAQ: PDD) recent earnings report and what this means for Alibaba going forward. *Stock prices used were from the trading day of May 26, 2023. The video was published on May 28, 2023.
Alibaba's (NYSE: BABA) stock has had a tough time in the last two years as the company faced declining growth and increasing competition. Alibaba recently announced a variety of steps to enhance shareholder value. Two strategic moves in particular could create significant value for investors.
Alibaba is sometimes called the Amazon of China because the two companies have similar business models.
It has been a wild few years for Alibaba (NYSE: BABA). More recently, the company announced results for the fiscal 2023 fourth quarter (ended March 31) that missed analyst estimates for sales, but beat on earnings per share. In the fourth quarter of 2023, 74% of Alibaba's total revenue came from the China and International Commerce groups.
Alibaba (NYSE: BABA) captures a meaningful part of its revenue and operating income from consumer activity in China. Fool.com contributor and finance professor Parkev Tatevosian discusses how Alibaba plans to benefit from the Chinese economic reopening.
Fool.com contributor and finance professor Parkev Tatevosian discusses the big news from Alibaba (NYSE: BABA) that has everyone talking about the company. *Stock prices used were the afternoon prices of May 23, 2023.
SHANGHAI (Reuters) -Alibaba Group Holding Ltd said on Thursday it planned to hire 15,000 people this year, dismissing rumours circulating on Chinese social media in recent days that the company planned to cut 20% of its workers. In a post on the firm's official Weibo account, Alibaba said that among the 15,000, more than 3,000 people would be newly-graduated students. Alibaba's cloud unit has started a round of downsizing that will impact 7% of the staff as it streamlines its business in preparation for an IPO, a source familiar with the matter said on Tuesday.
(Bloomberg) -- Chinese leader Xi Jinping has used policy, capital and outright decree to mold the world's No. 2 economy in his own image. After over a decade in power, an intensifying struggle for tech leadership with the US and a sputtering domestic economy suggest he'll have to once again recalibrate the country's giant internet and manufacturing sectors.Most Read from BloombergWorld’s Most Valuable Chipmaker Nvidia Unveils More AI Products After $184 Billion RallyDebt-Limit Deal Brings Relief
(Bloomberg) -- IQiyi Inc. is again exploring a second listing in Hong Kong just as China’s answer to Netflix Inc. looks on track to reverse years of losses.Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchUS Credit Rating at Risk of Fitch Cut on Debt-Limit ImpasseWorld’s Biggest Nuclear Plant May Stay Closed Due to Papers Left on Car RoofDeaths Soar on Everest After Record Number of Climbers Att
Despite mixed earnings reports from Chinese tech giants like Baidu, Alibaba and Tencent, analysts remain optimistic about the future of China's tech sector.
HONG KONG (Reuters) -A Chinese court has ordered an Alibaba Group unit that developed the hit mobile game "Three Kingdoms Tactics" to pay NetEase Inc 50 million yuan ($7.2 million) in compensation over copyright infringement, according to a statement from NetEase. "Three Kingdoms Tactics" is Alibaba's most profitable game, earning more than $1.97 billion from player spending since launching in 2019, according to data firm App Magic.
(Bloomberg) -- Alibaba Group Holding Ltd.’s cloud division has begun a round of job cuts that could reduce its staff by about 7%, part of an overhaul aimed at preparing the once fast-growing unit for a spinoff and eventual IPO.Most Read from BloombergMcCarthy, Graves Signal Impasse in White House Debt TalksXi Upends the Secretive World of $10,000-an-Hour China ExpertsWorld’s Richest Man Loses $11 Billion After LVMH Stock RoutLuxury Stocks Lose $30 Billion in One Day on Demand FearsWorld’s Bigges
Shares of Chinese e-commerce giant Alibaba (NYSE: BABA) dipped in morning trading on the NYSE Tuesday and remain down 2.4% as of 12:45 p.m. ET on news that the company's cloud computing business is laying off workers. Bloomberg broke the story today, reporting that Alibaba will lay off 7% of the employees at its cloud computing division before spinning this division off and IPO'ing it. Alibaba Cloud is the company's second-biggest division by revenues (after e-commerce, of course), but after strong growth for years, its sales declined 5% last year -- and Cloud still isn't profitable for Alibaba.
Alibaba did not immediately respond to a Reuters request for comment. Earlier this month, the Chinese tech giant laid out listing and fund-raising plans for four of its business units, including its logistics unit Cainiao. As part of the plans, China's largest cloud service is slated to be listed next year.
Investing.com -- Stocks in focus in premarket trade on Tuesday, May 23rd. Please refresh for updates.
Alibaba (NYSE: BABA) reported quarterly financial results that have huge implications for investors. Fool.com contributor and finance professor Parkev Tatevosian updates his recommendation on Alibaba stock.
Several Chinese stocks rose today after positive sentiment from Wall Street and recent comments made by President Biden.
Alibaba (BABA) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
By Louis Juricic and Sarina Isaacs
Alibaba's (NYSE: BABA) stock dropped 5% after it posted its latest earnings report on May 18. For the full year, Alibaba's revenue and adjusted earnings per ADS grew 2% and 4%, respectively. Should investors buy Alibaba's stock, which has plummeted more than 70% from its all-time high in October 2020, as a value play on China's COVID-19 recovery?
Alibaba's (BABA) fourth-quarter fiscal 2023 results reflect strength across the International commerce segment, local consumer services and Cainiao logistics businesses.
Alibaba beat earnings estimates but missed on revenues when it reported fourth-quarter fiscal 2023 results.
(Bloomberg) -- Slowdown fears are weighing on Chinese tech stocks and even upbeat sales figures from the industry’s bellwethers can’t revive them.Most Read from BloombergMcCarthy, Graves Signal Impasse in White House Debt TalksWorld’s Richest Man Loses $11 Billion After LVMH Stock RoutWorld’s Biggest Nuclear Plant May Stay Closed Due to Papers Left on Car RoofFinancials Lead Stock Decline as Sentiment Sours: Markets WrapLula Lashes Out and Sends Warning to Central Bankers EverywhereShares of Ten
(Bloomberg) -- Alibaba Group Holding Ltd.’s surprise move to fully spin out a potentially transformative $12 billion cloud business is stirring speculation about whether the Chinese e-commerce leader bowed to market or political realities.Most Read from BloombergDisney Drops Plan to Move Workers to Florida, Closes HotelWall Street Fears $1 Trillion Aftershock From Debt DealNYC Skyscrapers Sit Vacant, Exposing Risk City Never PredictedUkraine Leader Zelenskiy to Visit Hiroshima in Bid to Rally Ai