BABA - Alibaba Group Holding Limited

NYSE - NYSE Delayed Price. Currency in USD
+1.89 (+0.94%)
At close: 4:03PM EST
Stock chart is not supported by your current browser
Previous Close200.00
Bid201.68 x 800
Ask201.90 x 45100
Day's Range199.51 - 202.00
52 Week Range129.77 - 202.00
Avg. Volume15,153,511
Market Cap530.533B
Beta (3Y Monthly)2.25
PE Ratio (TTM)57.73
EPS (TTM)3.50
Earnings DateJan 28, 2020 - Feb 3, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est227.06
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  • South China Morning Post

    Is Alibaba's mega listing in Hong Kong the prelude to an exodus of Chinese technology stocks from US capital markets?

    After Alibaba Group Holding's US$12.9 billion offering in Hong Kong last month, investors are on the lookout for who will be the next Chinese technology giant to seek a similar windfall in the city.Some of China's biggest new economy names, including Baidu, and Weibo, are among a small universe of companies who previously raised capital in the United States and could easily pursue their own secondary listing in Hong Kong thanks to a rule change by the city's bourse two years ago.The listing reform made it easier for companies with dual classes of shares " a structure favoured by technology companies such as Facebook and Google " and pre-revenue biotechnology firms to seek secondary offerings in the city. It came after the Hong Kong stock exchange lost out to New York in a race for Alibaba's US$25 billion initial public offering in 2014.The success of Hangzhou-based Alibaba's listing in Hong Kong " the second-biggest globally this year after Saudi Aramco's IPO and the third largest technology offering on record " could spur more Chinese firms to seek their own listings closer to home, according to bankers, economists and market watchers.Sean Taylor, the chief investment officer for Asia-Pacific at asset manager DWS, said a secondary listing in Hong Kong would open up a new ecosystem of investors to Chinese firms that opted to list on American bourses and act as a potential hedge against the increasingly tense relationship between the US and China."It dampens the risk of waking up in the morning and having some China-US news go slightly bad or a tweet from [US President Donald Trump] and seeing all the [American depositary receipts] down," Taylor said. "You've got a lot of good companies that are listed in ADRs in the US, but they're completely domestically run Chinese businesses. They have nothing to do with global trade, but they get affected because of this in the US." Morgan Stanley raises price targets for Alibaba, others in China sector upgradeWashington and Beijing have been locked in a trade war for more than a year, with President Trump placing tariffs on hundreds of billions of dollars of Chinese goods as he tries to force China to change decades of industrial and trade policy.Politicians on both sides of the aisle in Washington also have suggested limiting the ability of American pension funds to invest in Chinese companies and restricting the ability of Chinese companies to access the US capital markets until Beijing agrees to reforms."As the rivalry between China and the US becomes the new norm, it's going to take some time for both countries to find a new equilibrium in their relations," said Hong Hao, chief strategist at Bocom International, the securities and asset management arm of Bank of Communications. "Alibaba has very healthy financials, and it didn't really need the secondary listing for refinancing. It's preparing a backup solution as a responsible company."President Trump announced a "substantial phase one deal" between the world's two biggest economies in October, but an agreement has yet to be signed.Concerns are growing that a potential deal could be derailed after President Trump signed into law legislation that could potentially subject Hong Kong to diplomatic and economic sanctions if the city's autonomy from mainland China was undermined and the House of Representatives passed a bill tightening scrutiny over human rights abuses against Uygurs and other largely Muslim ethnic minority groups in Xinjiang. Another round of tariffs is currently set to go into effect on December 15 if no deal is reached.On Tuesday, ahead of a meeting with Nato leaders, President Trump said there was "no deadline" for a trade deal and one could be delayed until after the US presidential election next year. His comments sent stock benchmarks down broadly in Asia on Wednesday as investors have been anticipating a deal."The window of opportunity for a deal this year is rapidly closing if only because of the time required to arrange a meeting between the two leaders to sign an agreement," Jon Harrison, managing director for macro strategy at research firm TS Lombard, said. "A phase one deal remains our central scenario, but timing is increasingly uncertain, while continued delay in reaching [an] agreement could start to become a drag on EM [emerging market] assets that are for the most part already pricing in a positive deal outcome."Bank of America economist Helen Qiao said there is rising concern among investors that the trade war is going to expand into "a capital war, an investment war or even a war on currency", but there remains a good chance for a "skinny" deal between the world's two largest economies."With some policy stabilisation and the US economic growth kind of weakening next year, we're seeing the chance for better cooperation, not necessarily as much confrontation," Qiao said. "That said, how much can you achieve in 2020, an election year? That is still a wild card out there." Is globalisation doomed? Business elites mull future as trade war ragesFive years ago, Alibaba, the owner of the South China Morning Post, preferred Hong Kong but chose the New York Stock Exchange for its IPO because of the city's listing rules at the time. Daniel Zhang, Alibaba's group executive chairman, has said the company did so "with regret".The rejection spurred the city's bourse to radically overhaul its rules in 2017, allowing technology firms with so-called weighted voting rights, and pre-revenue biotechnology companies to list for the first time. Biotechnology firms have embraced the changes, but fewer technology firms have used the reforms to pursue new offerings.Following its secondary listing, Alibaba became the most valuable listed company by market capitalisation in Hong Kong, eclipsing the likes of Tencent Holdings, HSBC and China Mobile. It has also been one of the bourse's most liquid stocks since it began trading on November 26. Through Friday's close, Alibaba's stock has risen 12.2 per cent from its offering price of HK$176 a share.At the Alibaba listing ceremony last month, Charles Li Xiaojia, the chief executive of bourse operator Hong Kong Exchanges and Clearing (HKEX), said there was no doubt more companies would want to "come home".An HKEX spokesman declined to comment this week on whether the exchange had seen an uptick in inquiries since the Alibaba offering.Magnus Andersson, Morgan Stanley's Asia-Pacific co-head of equity capital markets, said he does not expect a "flurry of transactions," but more companies are likely to consider a secondary listing. Morgan Stanley was an underwriter of Alibaba's Hong Kong offering and its IPO in 2014."The appeal is about being closer to your home market, and to investors in this region who may understand your company and products better than investors in the US," Andersson said. "For large-caps, giving investors the ability to trade their shares in the Asian time zone is also attractive. For smaller cap stocks it can be less compelling as it risks splitting liquidity between two exchanges. Such companies are usually better advised to concentrate their trading volume on one exchange."Under the listing reforms, a company seeking a secondary listing with a weighted voting rights structure must have a market cap of at least HK$40 billion (US$5.1 billion) or a market cap of at least HK$10 billion and revenue of at least HK$1 billion. They are required to have a track record of "good regulatory compliance" for at least two years on a qualified exchange."Hong Kong regulators have been very supportive of large cap Chinese technology companies listing in the local market " this includes issuers raising funds through IPOs as well as issuers pursuing second listings here," Johnson Chui, head of Asia-Pacific equity capital markets at Credit Suisse, said. "The batch of deals that have come to the Hong Kong market since 2017 has proven to investors and issuers that this can be a successful venue for tech companies to list on."Credit Suisse acted as joint sponsor of Alibaba's Hong Kong offering, alongside CICC, and was an underwriter on its IPO five years ago.Grandfathered under Chapter 19C of Hong Kong's revised listing rules, a group of just over two dozen Chinese companies who listed overseas on or before December 15, 2017, would be able to seek secondary listings without having to change their shareholding structure if that offering was later converted to a primary listing. The universe of companies has a combined market cap in the US exceeding US$300 billion.In addition to Baidu, and Weibo, Chinese internet giant NetEase, online retailer Vipshop Holdings and social media app Momo are among the Chinese firms that would be grandfathered in if they decided to pursue a listing in Hong Kong.A spokeswoman for Vipshop declined to comment, while the other companies did not respond to requests for comment."Hong Kong is an important strategic financial centre in the region, we hope our listing encourages other companies to consider listing here," Alibaba's chief financial officer Wu said in an interview at the time of the offering.William Yuen, investment director at asset manager Invesco, said secondary listings by some of the biggest new economy firms would potentially give mainland China investors their first opportunity to invest in those companies if they are added to Stock Connect programmes with the Shenzhen and Shanghai exchanges."I'm pretty sure a lot of mainland investors would be interested in these companies. Having these choices means they will increase their investment universe," Yuen said. "[The] majority of them may not have access to US listings ... Currently, the only channel to invest in them is if you have direct overseas account."It is highly anticipated that Alibaba could be added to Stock Connect as soon as next year, but the timing depends on approval by Chinese securities regulators.Food delivery service platform Meituan Dianping and smartphone maker Xiaomi were the first two companies with dual-class shares to be included in Stock Connect this year, but the results have been mixed.Shares of Meituan Dianping have risen more than 14 per cent since they were added to Stock Connect in late October, providing access to southbound investors, but Xiaomi's shares have declined 0.6 per cent and seen a drop in their average daily volume since inclusion.For more insights into China tech, sign up for our tech newsletters, subscribe to our award-winning Inside China Tech podcast, and download the comprehensive 2019 China Internet Report. Also roam China Tech City, an award-winning interactive digital map at our sister site Abacus.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.

  • At $2.6 billion, the New York Mets would be the highest-valued sports team ever sold in the U.S.

    At $2.6 billion, the New York Mets would be the highest-valued sports team ever sold in the U.S.

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  • Stock May Be Volatile for the Rest of the Month
    InvestorPlace Stock May Be Volatile for the Rest of the Month

    Following President Donald Trump's recent declaration that he may wait to finalize a U.S.-China trade deal, stock markets are off to a volatile start in December. As investors wonder whether China-based stocks might be adversely affected by the president's statement for the rest of the month, this column will analyze the short- and long-term outlook of (NASDAQ:JD) stock, China's largest e-commerce company by revenue.Source: Michael Vi / In 2019, JD stock is up about 57%. Needless to say, has been hot this year, but in the short-run, the share price could drop due to profit-taking.'s Q3 EarningsOn Nov. 15, released strong Q3 results, beating expectations from top to bottom. Its net revenue rose 29% year-over-year to $18.9 billion. Its earnings per share was 29 cents, versus analysts' average estimate of 17 cents.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIts income from operations was $695.8 million, compared to a loss from operations a year's YoY user growth accelerated last quarter, while its mobile user count surged 36% YoY. * 7 Hot Stocks for 2020's Big Trends Its monthly active mobile users increased 36% YoY in September. The owners of JD stock cheered the results. has a robust business model and is poised to benefit from the expanding Chinese e-commerce market. The company has about a 25% share of the nation's online retail also has hundreds of warehouses and thousands of delivery stations as well as fresh food stores across China. JD Logistics' revenue grew over 75% YoY in Q3. claims that approximately 90% of the unit's orders are delivered the same day or the next day.'s E-commerce Strength Will Propel JD Stock HigherIn addition to being one of China's most valuable enterprises, is a member of the Fortune Global 500.Online shopping represents about 35% of China's $5.5 trillion retail market. By comparison, e-commerce in the U.S. represents about 11% of the nation's total retail sales.According to recent research by the China Center for Economic Research, "the most popular products sold online at JD are cell phones, followed by food and beverages, makeup and cosmetics, digital products, and lifestyle and travel goods."Mobile device users are still a driving force of consumer spending. China has the most mobile users in the world. And the mobile market is expected to grow further as China's cellular infrastructure improves.Although China's economy may slow further in 2020, China's GDP is still expanding at an average annual rate of at least 6%. Over the longer term, China is likely to overtake the U.S. as the world's number one economy.China's unemployment rate dropped to an all-time low of 3.6% in 2019. And average wage increases have been high enough to improve consumer sentiment. In other words, the country's growing middle class will continue to drive increases in consumer spending and the expansion of China's e-commerce market.And when Chinese citizens have more money in their pockets, they can spend more on online shopping sites like, which has already become an internet juggernaut. Short-Term Headwinds for JD.comAlthough it is hard to quantify the exact effect of continued trade wars on, the uncertainty they create will likely make JD stock more volatile in the short-run.As the economy cools off, the owners of stock will also pay more attention to JD's competitors. JD's main competitor is Alibaba (NYSE:BABA), whose Tmall and Taobao platforms are China's largest online business-to-consumer and consumer-to-consumer marketplaces, respectively.In the past few years, new players have entered the internet commerce marketplace in China. One example is Pinduoduo (NASDAQ:PDD), a Groupon (NASDAQ:GRPN)-style retailer, which launched its IPO in 2018.One of the main criticisms of by analysts over the years has been JD stock's low margins. For example, throughout 2018, JD's revenue growth slowed and its operating margins dropped. If the Chinese economy slows further, JD's growth metrics could also slow. Additionally, more companies are likely to enter the lucrative, growing Chinese e-commerce sector.Finally, political instability in Hong Kong could also negatively affect Analyzing the Movements of JD StockJD stock has been volatile over the years. It shot up from $20 in 2014 to $50 in early 2018. Then things went downhill. In Nov. 2018, hit $19.21.Throughout 2019, the shares have recovered as the company's quarterly profits and revenue growth have improved.On Nov. 15, 2019, stock hit a 52-week high of $35.43. Currently, the stock is hovering around $33.Because of the impressive jump of over the last year, its technical indicators have become somewhat over-extended.But if you already own JD stock, you might want to stay the course and hold onto your position. Or you may also consider opening a covered call position in conjunction with buying JD stock.If you do not currently own shares of, there will likely be opportunities to pick up the stock more cheaply.However, if the U.S. and China reach a trade deal soon,, along with many Chinese stocks, are likely to rally. The Bottom Line on StockAlthough JD stock has been a strong performer in 2019, its price is still considerably lower than its all-time highs of January 2018.Since stock is a growth name, it trades on forward sales as well as the momentum provided by future expectations. The markets are likely to continue to be choppy in the next few weeks, especially since investors may decide to take profits as the year ends.The volatility of JD stock is high, giving it a broad trading range, so short-term traders should be cautious about buying the shares in coming weeks.However, long-term investors shouldn't scramble for the exits just yet. JD stock and many of the other Chinese companies listed on U.S. exchanges enable investors to benefit from the growing spending of Chinese consumers.Because of the hugeness of the Chinese market, many Chinese e-commerce companies can thrive. And there are plenty of long-term catalysts that could drive higher in the years ahead.As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Hot Stocks for 2020's Big Trends * 7 Lumbering Large-Cap Stocks to Avoid * 5 ETFs for Oodles of Monthly Dividends The post Stock May Be Volatile for the Rest of the Month appeared first on InvestorPlace.

  • Alibaba, Facebook, Microsoft Lead Big Buys By The Best Mutual Funds
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  • Time to Short Alibaba Stock as It Hits $200

    Time to Short Alibaba Stock as It Hits $200

    Shares of Alibaba Group (NASDAQ:BABA) are once again poised to break out at the $200 area. BABA stock has been on a bull run since beating earnings and reporting Singles Day sales that exceeded expectations. No question that Alibaba continues to grow. How much to pay for that growth is the real question. Alibaba stock has come too far, too fast. Time to say "bye-bye" to BABA, at least for the near-term.Source: Nopparat Khokthong / Although Singles Day beat last year by 25%, the rate of growth slowed from 27% the previous year. This makes intuitive sense as growth percentages invariably come down as the actual numbers get larger. A little math may shed some light. This year Alibaba had over $38 billion in Singles Day sales. Extrapolating the 25% growth rate over five years would equate to $115 billion in Singles Day sales in 2024. * 7 Hot Stocks for 2020's Big Trends If you believe that isn't a little extreme then by all means buy BABA with both hands at current prices. To me, however, that seems like a difficult proposition at best. Caution is warranted as Alibaba breaks past $200.InvestorPlace - Stock Market News, Stock Advice & Trading Tips BABA Stock Chart and Valuation Click to EnlargeAlibaba is looking rather rich on a valuation basis. Price to sales (P/S) is back over 8 and approaching the richest ratio in the past six months. The previous two times P/S neared 8 marked significant short-term tops in Alibaba stock. At some point valuations will matter again, especially given that growth is necessarily slowing. Further multiple expansion seems unlikely. This will provide a headwind for Alibaba stock over the coming weeks. Click to Enlarge Source: The thinkorswim® platform from TD Ameritrade BABA stock is getting decidedly overbought on a technical basis. 9-day RSI is once again at levels that have signaled tops in the past. Bollinger Percent B breached 100 before finally weakening. The Detrended Price Oscillator is back near the highs of the year. MACD is also nearing extremes. Alibaba stock is trading at a large premium to the 20-day moving average which has led to pullbacks in prior instances.In my previous article on Alibaba stock I had a bullish outlook with BABA trading near $175. Now that Alibaba has rallied nearly 15%, my outlook has changed as well, because price does matter. I don't expect a major drop, but a retracement of the recent red hot rally seems likely.Important to also remember that nothing concrete has been accomplished on the U.S.-China trade war, even though stocks are priced as if a deal is all but done. Any rumblings out of Washington or Beijing could torpedo the unrelenting rally at any time. Trading Alibaba StockStock traders should look to short BABA on any further strength. A pullback to the previous resistance level at $188 would be my initial downside price target. A meaningful break above the all-time highs at $211 is a viable stop out point. Alibaba doesn't pay a dividend so there's no issue owing the dividend if you short the stock. Earnings aren't due until the end of January.Option traders can take advantage of comparatively cheap implied volatility and position for a pullback with a put diagonal spread. Buying the January $195 puts and selling the December $190 puts would cost about $3.50. Maximum risk on the trade is $350 per spread.Ideally Alibaba stock closes near $190 at December expiration. The trade structure also allows for additional selling of shorter term weekly put options to further hedge the position and lower the initial cost.Tim Biggam may hold some of the aforementioned securities in one or more of his newsletters. Anyone interested in finding out more about Tim and his strategies can go to More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Hot Stocks for 2020's Big Trends * 7 Lumbering Large-Cap Stocks to Avoid * 5 ETFs for Oodles of Monthly Dividends The post Time to Short Alibaba Stock as It Hits $200 appeared first on InvestorPlace.

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  • Hedge Fund Guru Israel ‘Izzy’ Englander Takes a Massive Bet on 3 “Strong Buy” Stocks

    Hedge Fund Guru Israel ‘Izzy’ Englander Takes a Massive Bet on 3 “Strong Buy” Stocks

    Sometimes, we can turn a hobby into a career. Israel 'Izzy' Englander was always interested in the financial markets, and as far back as high school he started trading stocks. He formed his first brokerage house in 1977, at age 30, and in 1988, with $35 million in seed money, he opened Millennium Management where he continues to serve as CEO. In the 31 years since, his fund has grown that original seed more than 1,000-fold and now holds over $39 billion in assets under management.Millennium’s success has brought Englander wealth and reputation – he holds a personal net worth of $6.6 billion, and his investment services are highly sought after.Englander’s move up the ladder is truly the accomplishment of a self-made man; his parents emigrated to the US after WWII after getting out of Soviet labor camps. Rising to the top from such humble beginnings is no mean feat. England managed it with a combination of intelligence, grit, and steadfast adherence to three basic trading principles: Put a tight control on risk; use non-directional trading strategies; and maintain the discipline to stick to the first two rules. Keeping to those simple principles has helped this quiet-mannered man make Millennium Management one of the best hedge funds around.We’ve opened up the TipRanks Stock Screener tool to narrow down 3 "strong buy" stocks that Millennium placed its bets on in Q3. The fund giant spent almost $600 million to stake or increase positions in these three interesting names. It also doesn't hurt that each one has over 15% upside potential, according to top analysts. Let's take a closer look to find out why Izzy Englander and the Street found them so compelling.Linde (LIN)First on the list is industrial gas company Linde. In the chemical business since 1879, Linde is the dominate player in the industrial gas niche, holding the largest market share and bringing in the largest revenues. The company’s gas operations provide a full range of industrial gasses to a wide variety of sectors: heavy industry, medical providers, and HVAC applications among others. Products include elemental gasses such as oxygen, nitrogen, hydrogen, and argon, and compounds like carbon monoxide and refrigerants.Linde consolidated its leading position in the gas industry through a merger. The company announced in October 2018 that it would join with its competitor Praxair in a merger of equals. Linde chairman Dr. Wolfgang Reitzle, who heads the board of the combined entity described the move as a “compelling and transformative combination.”The company has seen quarterly EPS rise through 2019, and in the recent Q3 report saw revenues more than double year-over-year, from $3.01 billion in Q3 2018 to $7 billion now. The massive increase eased any worries over the revenue number coming in just under the forecast. Quarterly EPS did not give even that limited disappointment. Earnings were reported at $1.94 per share, clobbering the forecast by 9%, and growing 26% from the year-ago quarter. LIN is up 33% so far in 2019, beating out the S&P’s gains of 24%.Steady appreciation and strong profit growth were the attractors here for Englander’s hedge fund – the Q3 earnings numbers simply justified his purchase decision after the fact. During Q3, Millennium purchased 492,006 shares, more than doubling the firm’s holding. Millennium now controls more than 729,000 shares in LIN, worth over $142.4 million.Wall Street’s analysts like what they see in LIN. Writing from SunTrust Robinson, James Sheehan says, “We believe the merger of Praxair and Linde will be highly accretive in the coming years... We believe strong organic growth trends are sustainable, and expect the stock to benefit from its relative earnings stability late in the economic cycle.” Sheehan rates the stock a Buy, while raising his price target to $235, which implies about 15% upside from yesterday's closing price. (To watch Sheehan’s track record, click here)Laurence Alexander, a 5-star analyst with Jefferies, concurs that the future looks good for LIN. He describes a “base case” of 8% sales through the end of 2024, and sees two important positive points for the stock: “Pricing environment should continue to improve as utilization rates rise [and] industrial capex should rise, which is positive for industrial gas project backlogs…” Alexander $241 price target indicates a decidedly bullish 19% upside to go with his Buy rating. (To watch Alexander’s track record, click here)Overall, LIN shares get a Strong Buy from the analyst consensus. The stock has 6 recent reviews, with 5 of those being buy-side – giving the bulls a strong advantage over the lone cautious Hold. Shares in LIN are selling for $205, and the $233.24 average price target suggests an upside potential of nearly 15%. (See Linde’s price targets and analyst ratings on TipRanks).L3Harris Technologies (LHX)The next stock on our list is from the defense industry. L3Harris produces a wide variety of equipment, including command and control systems, tactical radios and other wireless equipment, avionics and electronics, and night vision systems.Like LIN above, LHX has conducted a recent merger. Earlier this year, L3Harris was formed as a new entity through the combination of L3 Technologies and Harris Corporation. The parent companies converted their stock to the new ticker, LHX, which started trading on July 1. After accounting for 1H19’s separate income streams, the combined company, L3Harris, is estimated to show $17 billion in 2019 revenues.At the end of October, LHX reported Q3 earnings – an important release, as it was the company’s first quarter of operations as a combined entity. The quarterly report did not disappoint. At $2.58, EPS was 8% better than the $2.39 estimate, while the $4.43 billion in revenue was in-line with the $4.45 billion forecast. The company reported just over $1 billion in cash on hand, even after the quarter’s return of $922 million to shareholders through buybacks and dividends.Of the stocks in this list, LHX is Millennium’s new position. Considering the size of the company by revenue, it’s strong position in the defense contractor field, and its prospects for the near-term, it’s now wonder that Englander bought into it. His fund shelled out over $260 million for 1,378,220 shares in LHX.Writing from Barclays, David Strauss describes L3Harris as a “Top Pick.” He is particularly impressed by the company’s cash position, and writes, “Our adjusted EPS estimates and FCF forecasts remain ahead of consensus. We forecast LHX achieving $3B in FCF a year early in 2021… we estimate that LHX trades at a 6.8% FCF yield (2021), which equates to a >20% discount to its defense peer group.”Strauss, a 4-star analyst, gives this stock a Buy rating with a $270 price target, suggesting an impressive 40% upside potential. (To watch Strauss’s track record, click here.)Like LIN above, LHX has one recent hold rating. That cautious missive is outweighed by 6 Buy reviews, however, giving the stock a Strong Buy consensus view. LHX’s $245.43 average price target implies an upside of 27% from the current share price of $194. (See L3Harris stock analysis on TipRanks)Alibaba (BABA)The third and final stock on our list needs less of an introduction. Alibaba is China’s answer to Amazon – an e-commerce giant serving the world’s most populous nation. Even with China’s lower rates of internet penetration, Alibaba can rely on a domestic customer base some 800 million strong. One measure of the company’s firm foundation came from this year’s Singles Day numbers, when it racked up 25% year-over-year sales growth on China’s largest online shopping day. The final total, $38.4 billion, was a new Singles Day sales record – the third year in a row.It’s hard not to like BABA as an investment, and Englander has moved into it in a big way. His fund increased its holding in the stock by 179%, adding 636,892 shares to the 356,270 that were already in Millennium’s portfolio. The brought the total stake Alibaba to $192.3 million.In the recent earnings season, BABA reported fiscal Q2 earnings – and the results are consonant with the stock’s strong performance. The $1.83 EPS whomped the $1.50 estimate by 22%. On the top line, quarterly revenues of $16.65 billion beat the forecast by $180 million. The company saw 785 million monthly active users on mobile apps in September, an increase of 30 million just since this past June.Alex Yao, 4-star analyst with JPMorgan, is optimistic that Alibaba can continue its strong growth trends. He wrote, “We believe financial outlook for the next12-18 months is turning clearer and stronger due to 1) resilient revenue growth outlook of core-core commerce with proven operating leverage 2) increasing financial discipline in… We expect these trends to continue in the coming quarters, leading to 44% Non-GAAP EPS growth in 2HFY20.”With a growth forecast like that, Yao rates this stock a Buy. He bumped his price target up slightly, to $235, indicating confidence in a 21% upside for BABA shares. (To watch Yao’s track record, click here)Wall Street is clear in its opinion of BABA, as the stock boasts another Strong Buy from the analyst consensus, based on an impressively unanimous 19 Buy ratings given in recent weeks. The average price target is in-line with Yao’s, at $235, and suggests a 17% upside from the current trading price of $200. (See Alibaba stock analysis on TipRanks)

  • Amazon's Cloud Clientele Expands as BP Migrates Data to AWS

    Amazon's Cloud Clientele Expands as BP Migrates Data to AWS

    BP goes all-in on AWS, which highlights the efficiency and reliability of Amazon's (AMZN) cloud services offerings.

  • The Zacks Analyst Blog Highlights: Amazon, Microsoft, eBay, Alibaba and

    The Zacks Analyst Blog Highlights: Amazon, Microsoft, eBay, Alibaba and

    The Zacks Analyst Blog Highlights: Amazon, Microsoft, eBay, Alibaba and

  • Autonomous Vehicles Aim New Highs With Driverless Tests

    Autonomous Vehicles Aim New Highs With Driverless Tests

    Alibaba (BABA)-backed AutoX applies for testing its self-driving vehicles, without in-car driver backup, thereby stirring competition in the autonomous-vehicle tech space.

  • These 10 stories will drive investing for the next decade
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    These 10 stories will drive investing for the next decade

    Peak globalization is one of 10 investing themes Bank of America-Merrill Lynch has highlighted for the next decade. Shifting demographics and automation are two other stories with investment implications.

  • Reuters

    UPDATE 2-Soccer-Manchester United sign new partnership deal with Alibaba

    Premier League soccer club Manchester United have agreed a partnership with e-commerce giant Alibaba in an effort to extend the club's engagement with fans in China. The deal will see Alibaba provide club content on its online video platform Youku and develop a future club store on the company's business-to-consumer platform The deal is the latest move by United to engage with the Chinese market following the launch of a Chinese language app and plans for "experience centres" across the country.

  • Business Wire

    Manchester United and Alibaba Group Announce New Partnership

    Manchester United (NYSE: MANU) – one of the most popular and successful sports teams in the world - today announced a new partnership with Alibaba Group (NYSE: BABA and HKEX: 9988) that will bring exclusive rights to club content in China to Alibaba’s ecosystem for the first time, further extending the club’s engagement with its massive Chinese fanbase.

  • Video-Conference App Zoom Is a Rare Winner in Hong Kong Protests

    Video-Conference App Zoom Is a Rare Winner in Hong Kong Protests

    (Bloomberg) -- As protests jolt Hong Kong business, organizations from Alibaba Group Holding Ltd. to universities are adapting by going digital, switching to video-conferencing app Zoom to conduct online investor briefings and virtual lectures.Zoom Video Communications Inc. joins a number of internet services that have taken off since the unrest began over the summer, from mobile messenger Telegram to work-at-home apps. In a financial hub that thrives on face-to-face deal-making and power lunches, Zoom helps fill a void created by transport disruptions and concerns about personal safety.Hong Kong’s business community leans on the app’s features, which include slide-sharing and support for up to 1,000 call participants, to carry on cross-border communications and with mainland China, where WhatsApp, Telegram and Google alternatives are banned. There’s a local version of Zoom that’s compatible, which is why the app’s downloads in Hong Kong soared 460% in November, after an escalation in protest violence first triggered a spike in September, according to researcher Sensor Tower.Read more: Zoom’s Eric Yuan, the CEO Who Made Videoconferencing Bearable“As schools continue to be in lock-down mode, we’ve had to move our lectures online to minimize disruption,” said Cheung Siu Wai, a professor at Hong Kong Baptist University, adding Skype has been another option.Now valued at $19 billion, Zoom’s shares have almost doubled since listing on the Nasdaq this year. It’s unclear how the spike in downloads may translate into revenue growth for Zoom, founded by Chinese emigrant Eric Yuan, who now resides in California.The company has various pricing tiers and recently added HSBC to a roster of paying clients that includes Uber Technologies Inc. and Zendesk Inc., underpinning 85% growth in revenue to $167 million in the October quarter. Representatives for the company, which is backed by investors including Inc., Tiger Global and Qualcomm Inc., declined to comment on how the Hong Kong protests have affected its business.”With the periodic traffic disruptions, our colleagues have no choice but to use video-conferencing apps,” said Derek Chan, co-founder of Master Concept, a Hong Kong-based cloud service provider.To contact the reporters on this story: Carol Zhong in Hong Kong at;Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at, Vlad SavovFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • SoftBank's Son sticks with gut-led investing in chat with Alibaba's Ma

    SoftBank's Son sticks with gut-led investing in chat with Alibaba's Ma

    Weeks after his billion-dollar bailout of WeWork, SoftBank Group Corp's founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group Holding Inc's co-founder Jack Ma. SoftBank owns 26% of China's Alibaba, with its origin in a $20 million investment in 2000, and the stake is now worth more than the Japanese firm's market capitalization. Son on Friday said the decision to invest in Alibaba was driven by a gut feeling.

  • Reuters

    UPDATE 1-SoftBank's Son sticks with gut-led investing in chat with Alibaba's Ma

    Weeks after his billion-dollar bailout of WeWork, SoftBank Group Corp's founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group Holding Inc's co-founder Jack Ma. SoftBank owns 26% of China's Alibaba, with its origin in a $20 million investment in 2000, and the stake is now worth more than the Japanese firm's market capitalization. Son on Friday said the decision to invest in Alibaba was driven by a gut feeling.

  • Goldman Sees Alibaba Jumping 31% in Hong Kong in Next Year

    Goldman Sees Alibaba Jumping 31% in Hong Kong in Next Year

    (Bloomberg) -- Goldman Sachs Group Inc. was among the many Wall Street banks that missed out on underwriting Alibaba Group Holding Ltd.’s Hong Kong share sale. Now, its analysts are showering China’s largest company with compliments.Goldman stock analysts just initiated coverage of the shares with a buy rating, predicting they can rally another 31% in the city over the next year. Reasons include its “experienced senior” management team and reach in China’s digital economy.Alibaba can capture nearly a third of China’s retail payments this year, analysts led by Piyush Mubayi wrote in the report. It also has the potential to surpass core growth, Goldman added.Shares of the Chinese technology firm rose 2.7% to HK$197.50 on Friday, extending the advance since their Nov. 26 debut to 12%. The company raised about HK$88 billion ($11.2 billion) in its share sale, the biggest equity offering in the financial hub since 2010.Alibaba may see about $5 billion of mainland inflows over the next three years if it’s included in the trading links with Shanghai and Shenzhen, the bank added.Some investors have cautioned against unrealistic expectations on the stock, saying certain restrictions may curtail trading in the Hong Kong shares.Still, Goldman says that around 8% to 10% of Alibaba’s stock should eventually trade in Hong Kong as U.S. investors should be able to convert their American shares into Hong Kong ones and vice versa. The stock could have a free-float market capitalization in the city of about $48 billion.Analysts at Jefferies Group LLC initiated the stock with a buy rating.(Updates prices in fourth paragraph)To contact Bloomberg News staff for this story: Livia Yap in Shanghai at lyap14@bloomberg.netTo contact the editors responsible for this story: Sofia Horta e Costa at, Philip Glamann, Edwin ChanFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • SoftBank Opens Institute in Tokyo to Accelerate AI Research

    SoftBank Opens Institute in Tokyo to Accelerate AI Research

    (Bloomberg) -- SoftBank Group Corp. founder Masayoshi Son unveiled a $184 million initiative Friday to accelerate artificial intelligence research in Japan, enlisting Alibaba’s Jack Ma to expound on his goal of commercializing the technology.Son’s company announced a partnership with the University of Tokyo that includes spending 20 billion yen ($184 million) over 10 years by mobile arm SoftBank Corp. to establish the Beyond AI Institute. He roped in the Alibaba Group Holding Ltd. co-founder for an on-campus chat, during which the two billionaires discussed their vision for the future of technology.The institute will support 150 researchers from various disciplines and focus on transitioning AI research from the academic to the commercial using joint ventures between universities and companies. Health-care, city and social infrastructure and manufacturing will be the primary areas of focus, SoftBank Corp. said in a statement. That dovetails with its own goals: in November, SoftBank and Korea’s Naver Corp. said they plan to merge Yahoo Japan and Line Corp. into an internet giant under SoftBank’s control, to combine resources on AI and challenge leaders from Google to Tencent Holdings Ltd.Read more: SoftBank to Create Japan Internet Giant to Battle Global RivalsSon has long advocated AI as the most revolutionary new field of technological development. The Beyond AI Institute marks an investment in accelerating that research on his home turf, where he has previously bemoaned the relative under-performance of Japan’s startup scene. At the same time, he’ll be eager to put behind him a tough 2019 thanks to the calamitous implosion at WeWork and the shrinking values of Uber Technologies Inc. and Slack Technologies Inc.Offering a reminder of his most fruitful investment, Son hosted a talk with Ma, whose online retail empire has been the crown jewel in SoftBank’s investment portfolio. The two exchanged compliments and advocated passion, optimism and world-changing visions as essential to successful entrepreneurship.“In the past 20 years, we’ve been friends, partners and like soulmates in changing people’s lives,” said Son. Ma, in turn, said: “He probably has the biggest guts in the world when doing investment.”In a rare expression of contrition, Son recently said “there was a problem with my own judgment” after the WeWork debacle. He has imposed greater financial discipline on startups since then. On Friday, he said his enthusiasm for grand projects was undimmed. “My passion and dream is more than 100 times bigger than what I am right now. I am still only at the first step to my 100 steps.”To contact the reporters on this story: Vlad Savov in Tokyo at;Takahiko Hyuga in Tokyo at thyuga@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at, Vlad Savov, Peter ElstromFor more articles like this, please visit us at©2019 Bloomberg L.P.

  • Financial Times

    African entrepreneurs pitch to Alibaba founder Jack Ma

    Hosted by Alibaba’s founder Jack Ma, the four-hour entrepreneurial talent show had all the production values of The Apprentice. The action unfolded instead on a stage in Ghana, the first of what is set to be an Africa-wide annual contest as one of China’s best known businessmen scours the continent for younger versions of himself. Mr Ma is the former executive chairman of China’s biggest online commerce company.


    Saudi Aramco IPO Raises $25.6 Billion; Breaks Alibaba Record

    Saudi Arabian Oil Company priced its long-anticipated IPO at 32 Saudi Rials ($8.53) a share Thursday, raising $25.6 billion dollars and topping the previous record IPO held by Alibaba . Alibaba raised $25 billion in its 2014 IPO.