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Yahoo Finance Plus Alibaba Stock Holds Near Highs After Bullish Run, But Is BABA Stock A Buy Now?
Alibaba stock has rallied sharply amid renewed signs of accumulation as investors bet on better times ahead for the Chinese juggernaut.
Alibaba stock has rallied sharply amid renewed signs of accumulation as investors bet on better times ahead for the Chinese juggernaut.
Fidelity Investments again slashed Alibaba Group Holding Limited's (NYSE: BABA) fintech affiliate Ant Group Co's valuation more than two years after China blocked the fintech giant's initial public offering plans. Fidelity pared its estimate for Ant by about 9% to about $63.8 billion as of the end of November from the end of May, Bloomberg reports. Ant was worth $235 billion just before China suspended Ant's IPO in November 2020. China quashed Ant's $34 billion-plus IPO in 2020 at the last momen
While the top- and bottom-line numbers for Blackstone Inc. (BX) give a sense of how the business performed in the quarter ended December 2022, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Investors may be worried after the brutal stock market action of 2022. But stocks should go higher, with Tesla stock and Cisco among potential big winners.
By Johnny Rice, Benzinga
The companies—which were forced to exit their main business lines, lay off employees and close learning centers—have ventured into selling fresh produce and more nonacademic tutoring.
U.S. consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to subside, which could give the Federal Reserve room to further slow the pace of its interest rate hikes next week. The report from the Commerce Department on Friday also showed the smallest gain in personal income in eight months, in part reflecting moderate wage growth, which does not bode well for consumer spending. "Hammered by higher prices and borrowing costs, and feeling less wealthy, U.S. households are cutting back, and will likely contribute to a contraction in GDP in the first quarter," said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto.
American Express Co (NYSE: AXP) reported fourth-quarter revenue net of interest expense growth of 17% year-on-year to $14.18 billion, missing the consensus of $14.22 billion. Increased Card Member spending, and higher net interest income, reflecting higher average loan volumes, drove the growth. Total Network Volumes grew 12% Y/Y to $413.3 billion. U.S. Consumer Services revenue was $6.5 billion, up 23% Y/Y. Commercial Services revenue was $3.6 billion, up 15% Y/Y. International Card Services re
Apple earnings and the Fed meeting loom, but don't sit out a possible "life-changing" market rally. Tesla rival BYD is an aggressive buy.
Energy inflation remains a serious concern. Protect your portfolio.
STOCKSTOWATCHTODAY BLOG Lucid soared Friday, a move that is being attributed to unconfirmed rumors that the company could be acquired. Lucid (LCID) stock started moving just after noon Friday, and had nearly doubled, to $17.
Economic headwinds sent the S&P 500 into a bear market last year, and the benchmark index is still 16% off its high. Warren Buffett's Berkshire Hathaway treated the drawdown as a buying opportunity, investing $66 billion into the stock market through the first three quarters of 2022. Smart investors like Buffett know that a bear market offers investors a chance to buy good stocks at great prices.
Cathie Wood, the founder and CEO of Ark Invest, rose to popularity during the coronavirus pandemic thanks to her firm's successful bets on some of the most disruptive tech companies. The tech-heavy Nasdaq Composite Index entered a bear market in 2022, and ended it down 33% for the year. Here are three beaten-down growth stocks that Wood is still bullish on.
Technology stocks are on quite a tear to start 2023, but that could actually be an ominous signal. The Nasdaq Composite Index (COMP) is up 11% so far this month, on track for its best January performance since it notched a 12.2% gain in 2001, according to Dow Jones Market Data.
Lucid (LCID) shares soared as much as 88% on Friday and were repeatedly halted for volatility following speculation that Saudi Arabia's Public Investment Fund is considering buying a remaining stake in the luxury electric vehicle startup.
Tesla Inc CEO Elon Musk raised concerns about the Federal Reserve increasing the interest rate by saying it could crush the stock market. During Tesla's fourth-quarter earnings call last week, Musk said he's worried that rates will soon exceed the average return of the S&P 500 if the Fed pushes interest rates past 6%, reports the Business Insider. "I think the Fed needs to be very cautious about having a Fed rate that potentially exceeds 6%," BI quoted him saying during the earnings call. "Why d
AT&T (NYSE: T) reported earnings this week, and while there was steady growth, a high dividend yield, and strong cash flow, the company continues to pay the price for previous investments. Travis Hoium, Jason Hall, and Jon Quast discuss the company's operations and why they're hesitant to buy the stock.
It was a busy week for dividend announcements, with the fourth-quarter earnings season in full swing.
This straightforward strategy could get investors a return of nearly 6% in the bond market this year, according to Guggenheim Partners.
Chevron (NYSE: CVX) finished 2022 with a bit of a whimper. The oil company, which is one of the top holdings of Warren Buffett's Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B), faced headwinds from lower oil and gas prices and a write-down in its international operations. Chevron posted $6.35 billion, or $3.33 per share, of net income in the third quarter.