|Bid||174.61 x 1400|
|Ask||174.77 x 800|
|Day's Range||168.66 - 177.55|
|52 Week Range||129.77 - 195.72|
|Beta (3Y Monthly)||1.84|
|PE Ratio (TTM)||49.93|
|Earnings Date||Aug 21, 2019 - Aug 26, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||218.55|
(Bloomberg) -- Hong Kong demonstrators will need to look beyond mainland China for supplies of protest gear that’s defined the look of the movement.Queries on Chinese e-commerce portals such as Alibaba Group Holding Ltd.’s Taobao for umbrellas, masks and helmets would return the searches as “item not found” for buyers based in Hong Kong, while those on the mainland had positive results. Hong Kong logistics companies said a list of “sensitive items” which include black T-shirts, banners, laser pens and facial masks will be detained at customs.Protests in Hong Kong have dragged on since early June, with the government warning of the damage to the economy and the city’s reputation. Police have used tear gas and rubber bullets on demonstrators who linger after peaceful rallies ended, and the confrontations have turned increasingly violent in recent weeks.In such fights, protesters wear gas masks and helmets, and police have said some target strong laser beams at them. After entering search queries, e-commerce site JD.com showed helmets and laser pens are “out of storage for Hong Kong and Macau.” A representative of Hong Kong’s customs says it didn’t receive any directive to control the import of protest-related items, and it doesn’t know if there are any restrictions from mainland customs. Outside of business hours, a call to China’s customs went unanswered, while representatives for JD and Alibaba, which owns Taobao, didn’t immediately reply to requests for comment.According to a notice on the website of Hong Kong logistics company Dailybuyco.com, customs has strengthened controls over imports and exports. The current list of “sensitive items” also includes towels, umbrellas, glow sticks, flashlights and helmets. The list, as defined by the customs, is constantly changing, the website said, without specifying if it was Hong Kong or China authorities.Another delivery company Taopai.hk posted a similar notice earlier this month, saying that customs and the Hong Kong government are posting restrictions over imported goods, including yellow umbrellas, yellow helmets, iron pipes and knives. No “goods for riot” can be transported in freight, the post said.To contact the reporter on this story: Jinshan Hong in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Shamim Adam at email@example.com, Fion LiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- A top long-only equity hedge fund is betting big on Internet dating.Helsinki-based HCP Focus, which has a slim portfolio of only 12 “high-conviction” stocks, has 16% of its funds invested in Tinder-operator Match Group Inc. The owner of subscription-based online dating websites and applications has risen 93% so far this year, with a surge in new Tinder subscribers boosting second-quarter revenue and fueling a record gain on August 7. HCP entered the stock at the beginning of 2017.“If you’re a heterosexual single guy, you don’t really care about the technical details,” Ernst Gronblom, portfolio manager at Helsinki Capital Partners, said by phone on Thursday. “When a dating platform has reached critical mass, it’s very, very hard to dislodge it. If a competing platform tries to enter the market, it’s very hard to convince people to create accounts on several dating platforms.”HCP Focus manages about 70 million euros ($78 million) and was the top long-only equity fund over the three years through the first quarter, according to BarclayHedge. It returned an average 22% a year in the past five years through July. Match is its biggest holding, followed by Amazon.com Inc., which has been one of the main holdings since the start of the fund.“It’s not overvalued,” he said. “But I don’t see an explosive upside in it anymore because it’s so huge. It has the potential to give a reasonably good return for quite some time.”Gronblom focuses on companies with network effects that can create “natural monopolies”. He also holds PayPal Holdings Inc., Alibaba Group Holding Ltd and Facebook Inc., which has the strongest network effects “of any big company on the planet,” he said.Zeroing in on just 12 stocks is the “sweet spot” for Gronblom, giving enough diversification to keep volatility in check yet concentrated enough to give the full benefits of stock-picking, he said. That’s a strategy that has outperformed in recent years, but it faces risks in the short term from a global bear market.“Most of my portfolio companies are highly valued, at least according to traditional metrics,” he said. “If there’s a panic in the market these companies will typically suffer more severe losses than regular companies.“To contact the reporter on this story: Jonas Cho Walsgard in Oslo at firstname.lastname@example.orgTo contact the editors responsible for this story: Jonas Bergman at email@example.com, Stephen TreloarFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Hong Kong's political unrest is posing a dilemma for Alibaba Group Holding Ltd on the timing of its planned $15 billion listing in the city, with sources saying China's biggest e-commerce company is now considering several timetables. New York-listed Alibaba was most likely to launch the offer - potentially the world's biggest of the year - as early as the third quarter, sources have said, and late August, after its first-quarter earnings, was widely viewed as the most likely window. In preparation for the giant offer, bankers advising other large listings in Hong Kong have been careful to avoid planning their launches around that period, fearing that a clash of timing would crowd out their offerings.
The stock market fell in volatile fashion amid China trade news and the first inverted yield curve since 2007. Walmart, Cisco, Macy's, GE were big movers.
Alibaba Group stock edged up Friday as the China e-commerce giant received several price target hikes following its quarterly earnings report that beat views on the top and bottom lines.
The Chinese online giant delivered another strong quarter despite the softening economy in China, and Wall Street is loving it. All but one of the 52 analysts polled by FactSet have a Buy or equivalent rating.
The Chinese tech giant is still generating double-digit sales and earnings growth, but two of its main engines are losing steam.
The league and team announced Friday that Russian billionaire Mikhail Prokhorov will sell the remaining 51% interest in the team to Tsai, who purchased 49% of the Nets in 2018. Tsai will also buy the Barclays Center in Brooklyn, where the Nets play.
Alibaba Group Holding's (BABA) fiscal first-quarter 2020 earnings are driven by steady improvement in core commerce and cloud businesses, along with strong growth in metrics.
(Bloomberg) -- There’s a new owner of the Brooklyn Nets.Alibaba Group Holding Ltd. Executive Vice Chairman Joe Tsai exercised his option to buy the rest of the team that he didn’t already control -- along with the Barclays Center arena -- ending Mikhail Prokhorov’s ownership tenure and bringing another deep-pocketed international presence to the National Basketball Association’s ranks.Financial terms weren’t disclosed, but a person familiar with the deal said Tsai paid about $3.5 billion, including debt, for the team and building.Tsai -- who has a net worth of $10.3 billion, according to the Bloomberg Billionaires Index -- previously bought a 49% stake in the team at a $2.3 billion valuation, which is a record for a U.S. pro sports franchise. He had until 2021 to buy the remaining 51% of the franchise, which had its already-improved fortunes buoyed this off-season by the acquisition of star free agents Kyrie Irving and Kevin Durant.Excitement is surging around the team, which has spent most of its New York City tenure in the shadow of the Manhattan-based New York Knicks. The Nets made the playoffs last season for the first time in four years, and adding Durant and Irving could drive all business-related activity such as ticket and suite sales and sponsorship.A Yale Law School graduate, Taiwan-born Tsai is one of Alibaba’s 18 founding members. Before being recruited by Jack Ma, chairman of the Chinese e-commerce giant, in 1999, he worked as a tax lawyer at Sullivan & Cromwell LLP. Tsai also owns the WNBA’s New York Liberty, and moved to the U.S. in 1977 to attend an elite boarding school in New Jersey.The sale requires approval of NBA owners, which is considered a formality since Tsai has already been vetted. The transaction should close by the end of September.As part of the shake-up at Prokhorov’s BSE Global, the parent company of the Nets and arena, Chief Executive Officer Brett Yormark announced his resignation.As the point person for the Nets relocation and revamp, Yormark led the transformation of the team from a moribund brand to a hip and trendy one. The team finished its first season in Brooklyn in the top five in merchandise sales after coming last the previous year. And a spot on the squad, 42-40 last season, is now coveted by top players in the NBA.The $3.5 billion price tag represents a hefty profit for Prokhorov, whose Onexim Sports & Entertainment in 2010 paid $223 million for an 80% stake of the team and a 45% share of the arena. In 2015, he consolidated ownership of the Nets and the arena in a deal with real estate developer Bruce Ratner’s Forest City Enterprises Inc. that valued the assets at around $1.7 billion.The National Basketball Association prefers that one owner control the team and the arena where it plays.Prokhorov, the first non-North American owner of an NBA team, also controls the Nassau Coliseum on Long Island. That building isn’t part of the sale to Tsai, whose sports holdings also include the National Lacrosse League team in San Diego.Rich Asians have been plowing money into professional sports franchises in Europe and around the world, though buying an NBA team is rare. Indonesian Erick Thohir, chairman of the Mahaka Group, was part of the group that owned the league’s Philadelphia 76ers, but has sold his stake.Chinese investors have taken more stakes in European soccer teams, including Aston Villa, West Bromwich Albion, Wolverhampton Wanderers and Southampton in England, Italy’s A.C. Milan and Inter Milan, Spain’s Atletico Madrid, and Slavia Prague in the Czech Republic. Though some of the deals haven’t worked out. The Atletico Madrid stake was subsequently sold, and Chinese billionaire Tony Xia, chairman of the Recon Group logistics firm, has given up control of Aston Villa.To contact the reporter on this story: Scott Soshnick in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Cécile DauratFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It doesn't take a genius to point out iQiyi (NASDAQ:IQ) has been in a bearish trend. But looking forward and with earnings on tap, both off and on the price chart IQ stock's pain looks far from over. Let me explain.Source: Shutterstock iQiyi has been hailed as the Netflix (NASDAQ:NFLX) of China. But IQ stock actually operates a lot more like an amalgam of Netflix, Alphabet's (NASDAQ:GOOG, NASDAQ:GOOGL) YouTube and Amazon's (NASDAQ:AMZN) Twitch. It sounds interesting, but the IQ story faces an uphill battle which it's unlikely to conquer.Off the chart, IQ stock has delivered large and indefensible losses which aren't going away anytime soon. The trend of producing original but very costly content has only continued to increase. In fact it absorbed a staggering 79% of iQiyi's revenue in Q1 and up 38% from the prior year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBottom line, competing in today's streaming video market is a serious threat in IQ stock's ability to reach profitability -- unless IQ stock miraculously produces a great deal more revenue growth than the company has so far. But don't hold your breath.With China's economy continuing to weaken and ad revenues from the company's YouTube inspired business shrinking, the reality of profitability for IQ stock is even further out of reach. And as InvestorPlace's Mark Hake points out, with a massive annual cash burn rate of 53%, iQiyi's difficulties are even more pronounced. * 10 Cheap Dividend Stocks to Load Up On And it only gets worse for IQ stock. The company has a couple of other big problems. iQiyi is being challenged by much larger, profitable and well-capitalized Chinese tech giants Alibaba (NYSE:BABA) and Tencent (OTCMKTS:TCEHY). Not only do these companies have the wherewithal to absorb losses to gain market-share, they're in position to stay the course, even if today's slower growth environment becomes a full-blown recession.Lastly, there's also IQ's price chart. It's our technical view iQiyi shares aren't in position to win over any fans, except perhaps bearish traders comfortable with shorting stock. IQ Stock Daily Chart Following a very brief respite which saw shares surge higher and unsuccessfully challenge the 200-day simple moving average earlier this summer, it has been all downhill for IQ stock investors. And right now, shares of IQ are setting up in a bearish pattern pointing at even lower prices.Specifically, IQ stock has formed a flag under price support which preceded the jump in share price and beneath the 76% retracement level. That's not good news for bulls. Moreover, with stochastics curling into a bearish crossover inside neutral territory, iQiyi is in position for shorting. Trading IQ Stock Gaining short exposure in IQ stock before the company reports next Monday looks approachable. But the possibility of increased earnings volatility, which can work against the position, needs to be respected. As much, and for those seeking a bearish position in front of the iQIYI report, I wouldn't recommend shorting shares outright. But that doesn't mean you can't trade IQ stock.Instead, I'd suggest using a slightly out-of-the-money bear put spread. One favored vertical of this type is the weeklys Sep 27 $16/$14 put spread for 50 cents. Unlike short stock, a bearish vertical spread can control and reduce risk to the debit paid and offer big-time profits in the event iQIYI stock trades aggressively lower.Investment accounts under Christopher Tyler's management do not currently own positions in any securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. . For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post iQiyi Stock Will See Lower Prices appeared first on InvestorPlace.
Alibaba is to acquire rival NetEase’s cross-border online shopping platform, according to two people familiar with the matter, as China’s highly competitive $2tn ecommerce market takes early steps towards consolidation. to Rmb114.92bn ($16.3bn), might pay about $2bn for Kaola, according to one person familiar with the deal. Chinese shoppers have turned in large numbers to online retailers, led by Alibaba’s Taobao and Tmall platforms and JD.com: spending roughly four times as much as their US peers.
Since 2015, Alibaba’s (ticker: BABA) revenue has been increasing more than 30% each quarter. Despite that, shares of Alibaba have been tumbling this summer. The decline followed the release of an explosive report by a forensic accountant named Harry Markopolos.
Chinese delivery giant ZTO Express edged past Q2 earnings forecasts late Thursday as the stock crept closer to a new buy point.
(Bloomberg) -- Forget the world’s chaos for a moment. Alibaba Group Holding Ltd. is doing just fine.Despite a trade war, the slowing domestic economy and brutally aggressive competition, China’s largest technology company reported revenue and profit numbers that handily beat analyst estimates. Revenue rose a blazing 42%, while net income more than doubled. Shares popped 3% in U.S. trading.Insulated because of its predominantly domestic business, Alibaba is benefiting from a demographic shift to internet shopping. Chinese online sales accelerated in the June quarter, helped by sales promotions that unfolded across the country’s largest e-commerce platforms. Alibaba’s report dropped just as the risks of a recession spike, U.S.-China trade tensions ratchet up yet again and archrival Tencent Holdings Ltd. warns of a tough economic outlook.“It’s surprising how resilient Alibaba is,” said Michael Norris, a Shanghai-based research and strategy analyst at consultancy AgencyChina. “There’s a big disconnect between Wall Street, which has really given a beating to Alibaba’s shares, and people on the ground.”Revenue rose 42% to 114.9 billion yuan ($16.3 billion) in the three months ended June, while net income also came in ahead of expectations at 24.4 billion yuan. That was helped by more than 4.3 billion yuan of pretax profit from Ant Financial, the payments-to-lending affiliate controlled by billionaire Jack Ma.“Despite the macro environment not being as good as last year, Alibaba has launched a lot of new initiatives and the personalized product feed is helping maintain its growth rate,” said Steven Zhu, an analyst with Pacific Epoch. “Its live-streaming services and collaboration with international brands are helping.”The economic slowdown is eroding parts of the company’s sprawling empire of e-commerce, retail stores, delivery services and more. Revenue in its digital media and entertainment segment inched up just 6%, despite streaming service Youku enlarging its average daily subscribers by 40%. Growth in its cloud computing division, which commands half the country’s market share, slowed to a still-respectable 66%.Small and mid-sized enterprises may be leery of spending on ads -- Alibaba’s biggest source of income -- given the current environment. That prompted Chief Financial Officer Maggie Wu to tell analysts Alibaba is in no rush to monetize its new shopping recommendation feeds.Longer term, investors have raised flags about the impact on margins of Alibaba’s enormous spending on so-called new retail -- its effort to use technology to overhaul physical retailers -- and deepen its footprint in lower-tier cities and rural areas. Alibaba said it will continue to invest in those initiatives, as well as on-demand services like food delivery unit Ele.me, which is fighting a fierce, money-losing battle with giant Meituan.Alibaba is approaching a critical juncture just as Chief Executive Officer Daniel Zhang prepares to replace billionaire co-founder Ma as chairman in September. A U.S. campaign of tariffs and other curbs is heightening uncertainty around the world’s second-largest economy, while the emergence of rivals at home such as Pinduoduo Inc. tests its longstanding dominance of Chinese online retail.The e-commerce titan may be on the look-out for assets to bolster its lead. Alibaba is in talks to pay $2 billion for NetEase Inc.’s Kaola, which specializes in selling foreign goods to Chinese consumers, local media outlet Caixin reported.The company is also hatching plans to raise more capital. Alibaba’s quarterly performance bolsters its ambition of pulling off what could be Hong Kong’s biggest share sale since 2010. The company is said to have already filed confidentially for a stock listing, but it’s unclear when it might go ahead with the float given the widespread protests that have gripped Hong Kong over the past 11 weeks. Executives made no mention of the issue during their conference call.Overall, adjusted earnings per share came to 12.55 yuan versus the 10.3 yuan projected. Net cash slipped 4% in the quarter, depressed by a $250 million cash settlement reached last quarter on a U.S. federal class action lawsuit.The “key standout for us is that Alibaba’s China commerce business grew 40%, close to twice the rate of the China online retail industry,” said Neil Campling at Mirabaud Securities. “The scale benefits are paying off and Alibaba is enjoying both active consumer growth momentum and higher average spend.”\--With assistance from Zheping Huang and Sheryl Tian Tong Lee.To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Edwin Chan, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Aug.16 -- Despite a trade war, the slowing domestic economy and brutally aggressive competition, China’s largest e-commerce technology companies have reported earnings that beat highest analyst estimates. China's online retail sales industry has remained surprisingly resilient amid China's slowing economy and trade war concerns. Selina Wang reports on "Bloomberg Markets: Asia."
Aug.15 -- Alibaba Group Holding Ltd., China’s largest technology company, reported revenue and profit numbers that handily beat analyst estimates despite a trade war, the slowing domestic economy and brutally aggressive competition. Bloomberg's Selina Wang reports on "Bloomberg Daybreak: Australia."