U.S. Stock Futures Gain After Trump Signs Stimulus DealsWe’ve got another week ahead and another short week at that for the stock market. I hope everyone has enjoyed their Christmas holiday weekend. The U.S. stock market futures climbed on Sunday evening. This came after Pr
Futures tracking the S&P 500 and the Nasdaq were at record levels on Monday as President Donald Trump's move to sign into law a long-awaited $2.3 trillion pandemic aid bill bolstered bets on a vaccine-led economic recovery.
E-commerce giant Alibaba Group announced that its board of directors has authorized an increase in the company’s share repurchase program to $10 billion from $6 billion.
Alibaba’s (BABA) upsized share repurchase program will be effective for a two-year period through the end of 2022. The company commenced the execution of its share repurchase program in the fourth quarter. The announcement follows a major sell-off in Alibaba shares last week after the Chinese market regulator announced the launch of an antitrust investigation into the company.
Specifically, China’s State Administration for Market Regulation is investigating Alibaba for monopolistic behavior, mainly the “choosing one from two” policy, which prevents merchants from offering products on rival platforms. (See BABA stock analysis on TipRanks)
On Dec. 24, Oppenheimer analyst Jason Helfstein reiterated a Buy rating on Alibaba with a $330 price target and stated, “We'd note that, even if the antitrust investigation outcome turns out to be unfavorable to BABA, the impact will likely be less meaningful than expected. Based on our understanding, most exclusive merchants on BABA maintain their exclusivity primarily due to BABA's strong eCommerce ecosystem, and BABA's exclusivity practice plays a less meaningful role.”
“In addition, we'd remind investors that, although the recent news indicates the Chinese government is tightening the regulations on big Internet platforms including BABA, the new rounds of regulations merely aim to achieve the long-term sustainable growth of the sector through promoting fair competition, not to suppress it,” added Helfstein.
The rest of the Street echoes Helfstein’s bullish sentiment, with a Strong Buy analyst consensus based on 22 unanimous Buys. The average price target of $338.47 indicates upside potential of 52.5% from current levels. Shares have risen 4.7% year-to-date.
Shares of Alibaba Group Holding Ltd listed in Hong Kong fell on Monday over 7% to HK$212.20 ($27.37) after the company raised its share repurchase programme to $10 billion from $6 billion.
(RTTNews) - Alibaba Group Holding Limited (BABA) said that its board has authorized to upsize the company's share repurchase program to $10 billion from $6 billion. It will be effective for a two-year period through the end of 2022.The company noted that it commenced the executio
(RTTNews) - China's central bank has ordered Ant Group to rectify its operations and comply with regulatory requirements, according to several media reports.Billionaire Jack Ma's Alibaba holds about 33 percent ownership in Ant Group.
One of the best-performing e-commerce stocks this year has been online gaming, e-commerce, and digital payments platform Sea Limited (NYSE: SE). Sea Limited is the rising star of Southeast Asia, a region that includes Indonesia, Vietnam, Thailand, the Philippines, Malaysia, Singa
The NASDAQ 100 After Hours Indicator is down -11.94 to 12,699.07. The total After hours volume is currently 47,350,395 shares traded.The following are the most active stocks for the after hours session: Chindata Group Holdings Limited (CD) is -0.2599 at $18.83, with 11,256,580 s
China's State Administration for Market Regulation, the agency that sets business standards and regulations, has initiated an antitrust investigation into Alibaba Group (NYSE: BABA) and its digital finance subsidiary Ant Group. The regulator posted a tersely worded statement on i
What happenedShares of Alibaba (NYSE: BABA) took a dive today after the Chinese government said it would open up an antitrust investigation into the tech giant. The news comes just weeks after Beijing blocked the IPO of Ant Group, Alibaba's fintech subsidiary, a further sign that
The S&P 500 ended higher at the close of a shortened session on Thursday as investors headed into the long Christmas weekend with hopes that an imminent stimulus agreement, a Brexit deal, and the ongoing vaccine rollout will spell brighter days in the coming year.
Consumer stocks were posting small gains this afternoon, with the SPDR Consumer Staples Select Sector ETF climbing 0.5% while the SPDR Consumer Discretionary Select Sector ETF also was advancing about 0.2%.In company news, Pinduoduo (PDD) shares climbed nearly 9% Thursday after C
The S&P 500 ended higher at the close of a shortened session on Thursday as investors headed into the long Christmas weekend with hopes that an imminent stimulus agreement, a Brexit deal, and the ongoing vaccine rollout will spell brighter days in the coming year.
The iShares Core Conservative Allocation ETF is seeing unusually high volume in afternoon trading Thursday, with over 535,000 shares traded versus three month average volume of about 143,000. Shares of AOK were off about 0.3% on the day.
In trading on Thursday, the iShares U.S. Home Construction ETF is outperforming other ETFs, up about 1.2% on the day. Components of that ETF showing particular strength include shares of Green Brick Partners, up about 3.5% and shares of M/I Homes, up about 2.6% on the day.
In trading on Thursday, shares of Alibaba Group Holding Ltd (Symbol: BABA) crossed below their 200 day moving average of $246.02, changing hands as low as $217.78 per share. Alibaba Group Holding Ltd shares are currently trading down about 14% on the day. The chart below show
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which m
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares ESG Aware MSCI EM ETF (Symbol: ESGE) where we have detected an approximate $208.9 million dollar inflow -- that's a 3.6% increase week over
The stock market continued to enjoy a Santa Claus rally on Thursday, with trading ending at 1 p.m. EST and the market closed on Friday for the Christmas holiday. But traders didn't wait to get into the festive spirit, generating modest gains for most major market benchmarks. As o
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