Chinese tech giant Alibaba (BABA) announced an important reorganization to split its company into six business groups. The company said that it seeks to “unlock shareholder value” with this move, as quoted on CNBC. Alibaba stocks jumped by more than 14% in the United Stat
U.S. stock index futures climbed on Wednesday as easing worries about a banking crisis lifted risk sentiment, while investors awaited economic data to assess the Federal Reserve's monetary policy path.
Global shares rose on Wednesday, as investors took heart from a greater degree of stability in the banking sector, but the sense of optimism wasn't robust enough to severely knock safe-haven assets like bonds or gold.
Emerging market stocks rose on Wednesday after Alibaba's shares lifted the Hong Kong bourse, with the internet giant's revamp plan spurring hopes that clampdowns on China's tech sector may be ending, while currencies softened against a steadying dollar.
U.S. stock index futures climbed on Wednesday as easing worries about a banking crisis lifted risk sentiment, while investors awaited economic data to assess the Federal Reserve's monetary policy path.
Alibaba Group (NYSE: BABA) continues its dominance of e-commerce in China. As it builds additional retail inroads around the world, Alibaba seems poised to return to previous share prices. Target (NYSE: TGT) valuations currently sit higher than average for the company, an indicat
Asian shares surged on Wednesday as easing concerns over the banking sector revived risk appetite, while Alibaba's plans to split into six units lifted Chinese tech stocks.
Shares in SoftBank Group Corp soared on Wednesday after Chinese e-commerce conglomerate Alibaba Group, in which the Japanese technology investor has a 13.7 % stake, announced a major restructuring plan.
Asian shares rose sharply on Wednesday while the dollar was on the defensive as easing concerns over the banking sector revived risk appetite, while Alibaba's stock soared on the internet behemoth's plans to split into six units.
Hong Kong stocks surged in early morning trade on Wednesday, boosted by a jump in Alibaba's shares following the internet giant's split-up and listing plan.
Hong Kong shares of Alibaba Group were set to open up 14.96% on Wednesday after it announced plans to split into six units and explore fundraisings or listings for most of them.
U.S. stocks ended slightly lower on Tuesday as investors weighed comments from a top U.S. regulator on struggling banks and sold shares of technology-related names after their recent strong run.
Technology stocks were lower late Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) down 0.8% while the Philadelphia Semiconductor index was falling 1.4%.
U.S. stocks ended lower on Tuesday as investors weighed comments from a top U.S. regulator on struggling banks and sold shares of technology-related names after their recent strong run.
U.S. stocks were lower in afternoon trading on Tuesday, led by a nearly 1% decline in the Nasdaq as higher Treasury yields hit technology-related shares.
Technology stocks were lower on Tuesday afternoon, with the Technology Select Sector SPDR Fund (XLK) slipping 1.3% while the Philadelphia Semiconductor index was falling 1.6%.
Wall Street struggled for direction on Tuesday as investors weighed receding concerns about a banking crisis, while Treasury yields rose amid focus on Federal Reserve's interest rate trajectory.
What happened
Shares of Chinese tech giant Alibaba (NYSE: BABA) popped on Tuesday after the company announced it is splitting into six -- yes, six -- separate companies. As of 10:10 a.m. ET, Alibaba stock was up 8%.
In trading on Tuesday, shares of Alibaba Group Holding Ltd (Symbol: BABA) crossed above their 200 day moving average of $92.56, changing hands as high as $97.16 per share. Alibaba Group Holding Ltd shares are currently trading up about 8.6% on the day. The chart below shows t
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