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Stock Market & Financial Investment News

News Breaks
August 15, 2014
06:10 EDTBABAAlibaba's Pictures unit uncovers possible accounting issues, AP reports
In a statement to the Hong Kong stock exchange, Alibaba's Alibaba Pictures Group said its new management team has uncovered possible accounting irregularities, the Associated Press reports. The irregularities date to before Alibaba's purchase of the company in June. Reference Link
News For BABA From The Last 14 Days
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October 21, 2014
16:10 EDTBABAYahoo expects Q1 taxes of $3.3B for Alibaba sale
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14:09 EDTBABAThird Point discloses new positions in eBay, Alibaba, exit from Sony
In its Q3 investor letter, Third Point says it established a "significant" position in eBay (EBAY). Dan Loeb's hedge fund also revealed it has established a significant direct investment in Alibaba (BABA) shares now that the company is public. Third Point also said it is now one of Amgen's (AMGN) largest shareholders. During the quarter, Third Point exited its position in Sony (SNE) and reduced or exited other positions, including AIG (AIG), Hertz (HTZ) and Softbank (SFTBF), the firm stated in its letter. PRICE ACTION: Following the disclosures in the Third Point letter, Amgen is up 4%, eBay is up 2.3% and Alibaba is up 3.8%, while Sony shares trading in New York are down nearly 1%.
14:01 EDTBABAThird Point says established 'significant' position in eBay during Q3
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13:27 EDTBABAEarnings Preview: Yahoo expected to unveil turnaround plan with Q3 results
Yahoo (YHOO) is expected to report third quarter earnings after the market close on Tuesday, October 21 with a conference call scheduled for 5:00 pm ET. Yahoo is a digital media company that provides properties and services such as Yahoo! Search and Yahoo! News. EXPECTATIONS: Analysts are looking for EPS of 30c on revenue of $1.04B. The consensus range is 18c-38c for EPS, and $1.02B-$1.06B for revenue, according to First Call. LAST QUARTER: Yahoo reported Q2 EPS 37c against estimates of 38c on revenue ex-tac of $1.04B against estimates of $1.08B. It reported Q2 price-per-ad was down 24%, Q2 Display revenue down 7% and Search revenue up 6%. The company gave Q3 revenue ex-tac guidance of $1.02B-$1.06B. After releasing its Q2 results, CEO Marissa Mayer said the company was "not satisfied" with the results, with display remaining an area of investment and transition. NEWS: In the past quarter, Alibaba (BABA) opened to the larges IPO in U.S. history. The Wall Street Journal reported that Yahoo's core business was cut in half to $6.8B after Alibaba's first day of trading. Yahoo made $5.1B in cash from the sale of shares in Alibaba's IPO and its remaining stake is valued at about $23.4B.In late September, activist investor Starboard Value urged Yahoo to explore a strategic combination with AOL (AOL), believing a merger could create synergies of up to $1B. CEO Marissa Mayer is expected to unveil her turnaround plan at the earnings call today that could include cost-cutting efforts and its M&A strategy, according to the Wall Street Journal. Yahoo also confirmed that a security breach in Q3 compromised servers, but the hack did not disclose consumer data. The company acquired several companies in past few months, including Flurry, Zofari, ClarityRay, Luminate, and Bookdpad. A WSJ reports also said the company is in talks to invest in Snapchat. STREET RESEARCH: Following the Alibaba IPO, Yahoo was downgraded at Bernstein, BofA/Merrill and RBC Capital because it was unclear whether Yahoo's stock can advance meaningfully and the company was no longer the best way to gain Alibaba exposure. RBC Capital said the risk/reward is less attractive, and it does not see a turnaround in Yahoo's core fundamentals. BGC Financial, however, upgraded the company and said the company's remaining assets should get monetized in a more tax efficient manner. PRICE ACTION: Yahoo shares have risen $4.29, or more than 12%, since the first day of trading following the company's Q2 report. In Tuesday midday trading ahead of Q3 report, Yahoo shares are trading up nearly 2%.
October 20, 2014
11:28 EDTBABATesla taking online orders for Model S on Alibaba's Tmall.com, Bloomberg says
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October 16, 2014
16:10 EDTBABABrean starts Alibaba at Buy, calls core China Internet holding
Brean Capital rolled out coverage on shares of Alibaba (BABA) with a Buy rating $110 price target, calling the stock a core holding in the China Internet space. Brean believes Alibaba gives investors exposure to "robust Chinese secular ecommerce growth." The stock closed the trading day up $3.25 to $88.85.
16:05 EDTBABAAlibaba initiated with a Buy at Brean Capital
Target $110.
06:56 EDTBABAAlibaba changes payment unit's name, adopts strategy, Reuters reports
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06:16 EDTBABAAlipay Wallet has over 190M active users, WSJ reports
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October 14, 2014
10:19 EDTBABAAlibaba initiated with a Buy at BofA/Merrill
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10:05 EDTBABAAlibaba volatility flat as shares trend to post IPO lows
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07:12 EDTBABAAlibaba initiated with a Buy at UBS
Target $100.
05:58 EDTBABACostco debuts in China through Alibaba Tmall platform
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October 13, 2014
12:13 EDTBABAYahoo upgraded as BGC sees higher chances for tax efficient monetization
Research firm BGC Partners upgraded its rating on Yahoo (YHOO) to Buy from Hold, saying that the chances of the company monetizing its assets in a more tax efficient manner have increased now that Alibaba (BABA) has come public. Among the possible scenarios, Yahoo may be acquired by Alibaba, the firm added. WHAT'S NEW: Yahoo's chances of paying a relatively low tax rate on the sale of its stakes in Alibaba and Yahoo Japan, a Japanese Internet company, have risen, BGC Financial analyst Colin Gillis stated. Yahoo could owe up to $15B of taxes on its sale of the assets, the analyst estimated. If Yahoo pays full tax liability, its stakes would be worth $43.5B. If it pays no taxes, the assets would be worth $58.5B, he estimated. Gillis set his price target on Yahoo at $50, representing the midpoint of the two scenarios, he stated. Among various scenarios that could play out, Alibaba could choose to buy Yahoo and subsequently unload Yahoo's core business and the American company's stake in Yahoo Japan, the analyst said. Yahoo shareholders could receive cash and shares of Alibaba as part of such a deal, Gillis stated. If Yahoo is not acquired by Alibaba, the American company should combine with AOL (AOL), as recently proposed by activist investor Starboard Value, Gillis contended. Merging with AOL could accelerate Yahoo's revenue growth by over 50% and increase its EBITDA by over 35%, Gillis estimated. PRICE ACTION: In early afternoon trading, Yahoo fell 1% to $39.18.
09:28 EDTBABAYahoo upgraded to Buy from Hold at BGC Financial
BGC Financial analyst Colin Gillis upgraded his rating on Yahoo (YHOO) shares to Buy saying the company's remaining assets should get monetized in a more tax efficient manner now that Alibaba (BABA) is public. Gillis also points out that Alibaba could see benefits from acquiring Yahoo. He raised his price target for Yahoo shares to $50 from $37.
08:16 EDTBABAAlibaba to invest about $1.6B in rural expansion, Marbridge Daily says
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October 9, 2014
08:07 EDTBABAAlibaba invests in Peel app, Re/code reports
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October 8, 2014
10:00 EDTBABAOn The Fly: Analyst Initiation Summary
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07:56 EDTBABAAlibaba volatility decreases on tight share price movement
Alibaba October call option implied volatility is at 30, November is at 35, December is at 37; compared to its 1-week average of 38 according to Track Data, suggesting decreasing price movement.
07:17 EDTBABAAlibaba initiated with a Neutral at Macquarie
Macquarie initiated Alibaba with a Neutral and $88 price target citing valuation.

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