|Bid||239.98 x 1000|
|Ask||240.04 x 900|
|Day's range||232.83 - 240.48|
|52-week range||151.85 - 240.48|
|Beta (5Y monthly)||1.56|
|PE ratio (TTM)||68.62|
|Earnings date||13-Aug-2020 - 17-Aug-2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||1,834.91|
For Chinese cloud services companies, the coronavirus outbreak has become a rainmaker, bringing in new business far and wide as firms shift work online and authorities develop apps and systems to help contain outbreaks and manage social restrictions. For Tencent Holdings Ltd in particular, it has also become the perfect time to flex new muscles as it seeks to catch up with Alibaba Group Holding Ltd, its arch-rival and the dominant player in the country's cloud market by far. Tencent began to display a new level of aggressiveness after positioning its cloud business as a major area of growth in September 2018, and that has only amped up amid the pandemic, employees say.
Chinese e-commerce giant Alibaba Group Holding Ltd has fired Zhao Yan, the head of its fast-growing livestreaming division, on grounds of nepotism and accepting gifts, according to an internal memo announcing his termination, seen by Reuters. The undated document, produced by Alibaba's human resources department and published on June 29 on the company's internal intranet for staff, says Zhao was fired after he used his position to help third-party livestreamers score favourable positioning on Taobao Live, Alibaba's main platform for live-streamed e-commerce.
Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, said today it has supported 38 percent of the Fortune 500 companies over the past fiscal year.
Alibaba Cloud and Unilever pioneer a strategic initiative that will enable Unilever to action on next-generation digital marketing campaigns
Shares of Beyond Meat (NASDAQ: BYND) climbed on Wednesday after the meat alternatives company announced a new partnership with one of the largest and most powerful companies in China. Beyond Meat's plant-based burger patties will be sold at 50 of Alibaba's (NYSE: BABA) Freshippo grocery stores in Shanghai, beginning this weekend. The two companies plan to roll out the Beyond Burger to additional Freshippo stores in Beijing and Hangzhou in September.
Alternative meat producer Beyond Meat (NASDAQ: BYND) announced a new partnership with Alibaba (NYSE: BABA) to expand its reach in mainland China, according to CNBC. The company's Beyond Burgers will initially be sold in 50 of Alibaba's Freshippo grocery stores in Shanghai beginning Saturday. Beyond Meat already has a presence in mainland China through partnerships with Starbucks (NASDAQ: SBUX) and Yum China (NYSE: YUMC).
Alibaba’s south-east Asian online shopping venture Lazada has appointed its fourth chief executive in three years as it struggles to become profitable and battles increasing competition. The company said on Friday that Chun Li, Alibaba veteran and co-president of Lazada Indonesia, will take over from Pierre Poignant, who is moving to become special assistant to Alibaba chief Daniel Zhang. The move is the latest leadership change at Lazada, one of Alibaba’s biggest overseas bets after it bought a controlling stake in the online retailer in 2016 for close to $1bn.
Southeast Asian e-commerce firm Lazada, a unit of Alibaba Group Holding Ltd, on Friday named its third chief executive in three years - a move that comes after it lost ground last year to rival Shopee. Chun Li, Lazada co-president and head of its Indonesia operations, will take the helm from July, replacing co-founder Pierre Poignant. Singapore-based Shopee, which is backed by Tencent Holdings, was the most downloaded e-commerce app and the most used in Southeast Asia as of end-2019, knocking Lazada to second place, according to research firm iPrice.
The Zacks Analyst Blog Highlights: AMZN, BABA, NKE, MMM and BP
Masayoshi Son has resigned from Alibaba’s board after 15 years, closing a chapter in a business partnership that has underpinned the most lucrative investment of the SoftBank founder’s career. Mr Son’s announcement on Thursday came as Jack Ma, the founder of the Chinese ecommerce group, also formally stepped down from SoftBank’s board, where he has served since 2007. Mr Ma retired as executive chairman of Alibaba last year and Mr Son has pivoted his focus to running the world’s largest technology fund.
The most valuable company in the world never to have made a single quarter of operating profit is on a stock market run. Pinduoduo, which claims to have reinvented online shopping in China, has seen its share price rise by more than 130 per cent in the past three months, giving it a market value of $101bn, above that of Uber or Sony and twice that of Baidu or Foxconn. Its founder and chief executive, Colin Zheng Huang, who earned his master’s from the University of Wisconsin-Madison and later worked at Google, is now China’s third-richest man, behind Jack Ma, the founder of Alibaba.
This wasn't the original intention of Beijing's Beidou satellite system of course — but the effort to cut reliance on America’s GPS technology is well timed. The system will also be instrumental for China’s Belt and Road Initiative. In other important updates, the backlash in India towards China is gaining ground.
Fosun International is in talks with Alibaba and others to sell a stake worth $1.3 billion in the e-commerce giant's Cainiao, three people said, at a time when Alibaba has been increasing its holdings in the logistics affiliate. Fosun, which owns resorts brand Club Med and controls French fashion house Lanvin among other assets, is looking to sell part or all of its 6.7% stake in Cainiao at a valuation of nearly $20 billion, two of the people said. The once-acquisitive conglomerate has been talking to Chinese investment firms and companies, including Alibaba, over the past few months about the sale, and wants to use the proceeds for new investments in consumer and healthcare businesses, the two people said.
Alibaba Group and the municipal government of Yiwu, Zhejiang Province in China, have announced plans to develop a Digitized Comprehensive Bonded Zone.
Series to Premiere in Spring 2021 on KARTOON CHANNEL! Landis also Joins Genius Brands’ Team to Develop a Live-Action Series and Feature Film Spin-off of the Series.
The coronavirus pandemic is driving consumers and businesses toward cloud-based services faster than ever before. These three stocks will let you invest directly in that game-changing megatrend.
Alibaba moved above a 221.26 buy point after a late May breakout fizzled. BABA's relative strength line has been weak. Like AMD stock, Alibaba has lagged several other Chinese e-commerce stocks, as well as many other U.S.-listed Chinese firms.
The COVID-19 outbreak has seen the world becoming cloud-dependent with companies shifting data and information to technological and digital platforms to safely remain afloat.
Tencent (OTC: TCEHY) is one of the largest tech companies in China. It owns WeChat, the country's top messaging app; the world's largest game publishing business; China's second-largest cloud platform; one of the country's largest video streaming platforms; and one of its top digital payment platforms. Tencent's advertising business, which generated 19% of its revenue last quarter, sells ads across WeChat, the older QQ messaging platform, its mobile ad network, Tencent Video, and other apps.