Today’s Research Reports on Stocks to Watch: Alibaba and Nio Inc.
NEW YORK, NY / ACCESSWIRE / November 2, 2018 / Shares of Chinese stocks were seeing green on Thursday as President Trump said that trade talks with China’s president were going nicely. President Trump tweeted on Thursday, "Those discussions are moving along nicely. Also had good discussion on North Korea! Alibaba was also seeing gains ahead of its second quarter earnings report.
RDI Initiates Coverage on:
Alibaba Group Holding Ltd.
https://www.rdinvesting.com/report/?ticker=BABA
NIO Inc.
https://www.rdinvesting.com/report/?ticker=NIO
Alibaba Group Holding Limited shares closed up 6.30% on about 47 million shares traded yesterday. The Chinese e-commerce giant was gaining ahead of its second quarter earnings report today, the first since the company's CEO and Chairman Jack Ma had announced in September that he would be stepping down from those roles in 2019. For the quarter, adjusted EPS is expected to be $1.06, down from $1.23 in the prior-year period. Revenue is expected to be $12.4 billion according to third-party consensus analyst estimates. Revenue is projected to increase 51 percent from last year’s $8.3 billion. Alibaba's annual shopping event, Singles’ Day will take place on November 11th. According to Fortune, in 2017 more items were bought during the 24 hours of Singles Day than the entire combined Black Friday and Cyber Monday sales in the United States.
Access RDI’s Alibaba Group Holding Ltd. Research Report at:
https://www.rdinvesting.com/report/?ticker=BABA
NIO Inc. shares were up 12.20% at the close on Thursday on about 24.3 million shares traded. While Nio did not have any particular news to explain the gains, it was one among several Chinese stocks to head higher. This could have been because of President Donald Trump saying he spoke to Chinese President Xi Jinping about trade amid tensions between the two countries. While he said the talk was productive he didn't offer any details. Also, Australia's AMP Capital Investors Ltd, declared that the Chinese stock market was "cheap and under-owned." AMP dynamic markets head Nader Naeimi said that this may be "the best time to buy a market." He added, "because expectations are so low, it doesn't take much positive news to turn."
Access RDI’s NIO Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=NIO
Our Actionable Research on Alibaba Group Holding Limited (NYSE: BABA) and NIO Inc. (NYSE: NIO) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
