SoftBank Group Corp's decision to sell down its Alibaba Group Holding stake for a $34 billion gain may be aimed at shoring up cash reserves, but it also underlines how CEO Masayoshi Son has cooled on China tech.
Shares in SoftBank Group Corp rose 5% in morning trading in Tokyo on Friday after the Japanese conglomerate said it would book a $34.1 billion gain by trimming its stake in Alibaba Group Holding.
What happened
Shares of several Chinese stocks trading on U.S. exchanges perked up Thursday as more positive inflation news came in and sentiment from Wall Street was generally positive.
Once an investment darling, Alibaba (NYSE: BABA) has fallen from grace. The continued crackdown on tech companies in China, the threat of delisting, and the worsening geopolitical relationship between the U.S. and the Chinese government make the stock seem almost uninvestable.
(RTTNews) - SoftBank Group Corp. (SFTBY.PK, SFTBF.PK) said its Board approved the early physical settlement of prepaid forward contracts corresponding to a maximum of approximately 242 million ADRs of Alibaba Group Holding Limited and the transfer of Alibaba shares to the Finance
SoftBank Group Corp on Wednesday said it will book an estimated gain of 4.6 trillion yen ($34.08 billion) on settling prepaid forward contracts using shares in Alibaba Group Holding, reducing its stake to 14.6% from 23.7%.
Global fund managers holding U.S.-listed Chinese stocks are steadily shifting towards their Hong Kong-traded peers, even as they remain hopeful Beijing and Washington will eventually resolve an audit dispute to keep Chinese firms on American exchanges.
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Alibaba (NYSE: BABA) has taken steps that could revive an IPO of its Ant Group holding. Its previous attempt to bring the company public fetched an enormous valuation. Though its IPO was pulled off the table, Alibaba still owns a significant interest in the valuable company. Here
What happened
Shares of Chinese e-commerce, payments, and cloud giant Alibaba (NYSE: BABA) fell 5% Friday after a positive session Thursday that followed the delivery of better-than-feared quarterly results.
Alibaba Group Holding Limited BABA reported first-quarter fiscal 2023 non-GAAP earnings of $1.75 per ADS (RMB 11.73), which surpassed the Zacks Consensus Estimate by 16.7%. The figure decreased 29% year over year in RMB terms.Revenues of RMB 205.6 billion ($30.7 billion)
Chinese e-commerce giant Alibaba Group BABA reported first-quarter fiscal 2023 before the opening bell on Aug 4, where in it beat the Zacks Consensus Estimate for earnings. The company recorded flat revenue growth for the first time ever, as the country grappled with an e
Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.
The NASDAQ 100 Pre-Market Indicator is down -114.22 to 13,196.82. The total Pre-Market volume is currently 55,357,792 shares traded.The following are the most active stocks for the pre-market session: AMTD IDEA Group (AMTD) is +0.66 at $4.96, with 2,952,326 shares traded.DraftKi
Alibaba Group Holding Limited (NYSE:BABA) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's statutory forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic