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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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February 12, 2016
09:10 EDTBABAAlibaba names Target's Jodee Kozlak as Global SVP of Human Resources
Alibaba (BABA) announced the appointment of Jodee Kozlak as Global Senior Vice President of Human Resources. Kozlak will be responsible for helping to build Alibaba Group's international leadership team as the company continues to expand globally. Jodee will jointly report to Alibaba Group Deputy Chief People Officer, Jane Jiang and to Alibaba Group President, Michael Evans. Kozlak previously served as Executive Vice President and Chief Human Resources Officer for Target (TGT).
06:38 EDTBABAAmazon expands logistics service into mainland China, SCMP reports
Amazon (AMZN) is expanding its logistics service into mainland China and other major hubs to cut down logistics costs in an effort to expand into the cross-border e-commerce market, South China Morning Post reports. The move represents an effort to challenge Alibaba (BABA) in the cross-border e-commerce market, the report says. Amazon might be leasing planes to further its ambitions beyond challenging FedEx (FDX) and UPS (UPS), the report says, citing "one rumour doing the rounds this month." Reference Link
February 11, 2016
06:30 EDTBABATime Inc. announced Michael Zeisser elected to Time's boardAlibaba
Time Inc. (TIME) announced that Michael Zeisser, Chairman of U.S. Investments for Alibaba (BABA), has been elected to Time Inc.'s board.
February 9, 2016
12:50 EDTBABAAmazon working on global delivery business to challenge Alibaba, Bloomberg says
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09:34 EDTBABAActive equity options trading on open
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February 8, 2016
11:12 EDTBABAStocks with call strike movement; BABA C
Alibaba (BABA) July 75 call option implied volatility increased 4% to 38, Citi (C) May 42.5 call option implied volatility increased 11% to 38 according to iVolatility.
February 5, 2016
11:54 EDTBABAStocks with call strike movement; TSLA BABA
Tesla (TSLA) June 200 call option implied volatility increased 6% to 53, Alibaba (BABA) July 70 call option implied volatility increased 3% to 40 according to iVolatility.
February 4, 2016
05:52 EDTBABAYahoo upgraded to Buy from Neutral at Citi
Citi analyst Mark May upgraded Yahoo (YHOO) to Buy saying the risk/reward is favorable at current share levels. The stock is down 21% since Yahoo suspended its plan to spin out its Alibaba (BABA) stake, May tells investors in a research note. His analysis suggests the implied value for the core Yahoo business could be negative at current levels. May raised his price target for the shares to $32 from $31. Yahoo closed yesterday down $1.38 to $27.68.
February 3, 2016
10:47 EDTBABAStocks with call strike movement; BABA AMZN
Alibaba (BABA) July 70 call option implied volatility increased 6% to 40, (AMZN) May 600 call option implied volatility increased 5% to 38 according to iVolatility.
09:15 EDTBABAYahoo CEO says separating Alibaba stake 'most direct path' to maximizing value
Yahoo CEO Marissa Mayer is speaking on CNBC.
08:28 EDTBABAHackers steal info on 20.6M active Taobao users, Marbridge Daily says
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06:52 EDTBABAYahoo CEO: Recent announcements move to 'reassure people,' NY Times says
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06:27 EDTBABAPiper's Munster says Yahoo growth to remain challenged for years
Piper Jaffray analyst Gene Munster says Yahoo's (YHOO) core business "seems even more challenged than before" following the company's Q4 results. Yahoo's fundamental growth challenges "will remain for multiple years," Munster tells investors in a post-earnings research note where he cut his price target for the shares to $31 from $39. He keeps an Overweight rating on Yahoo, however, pointing out that the shares still trade below a fully taxed value for both its Alibaba (BABA) and Yahoo Japan (YAHOY) stakes. The current share price seems to imply zero value for the core business, which is unfair given Verizon's (VZ) $4.4B acquisition of AOL last year, Munster contends. He believes Alibaba still provides upside to the story. Yahoo is trading down 51c to $28.55 in pre-market trading following its Q4 results.
February 2, 2016
19:42 EDTBABAYahoo shares fall after reporting Q4 results, announcing strategic alternatives
Yahoo (YHOO) shares fell Tuesday after the company reported its fourth quarter results and announced a strategic plan to simplify the embattled Internet firm. WHAT'S NEW: Yahoo reported Q4 earnings per share of 13c, in line with analyst expectations of 13c, and revenue of $1.27B, against consensus estimates of $1.19B. Yahoo also reported Q4 display revenue was up 13% year-over-year to $601M, while gross search revenue was down 7% to $866M. The company indicated that the number of ads sold during the quarter rose 8%, while price-per-ad increased 6% and paid clicks fell 10%. The company also provided first quarter and fiscal 2016 guidance, forecasting Q1 adjusted operating income of ($50M)-($30M) and revenue of $1.05B-$1.09B under Generally Accepted Accounting Principles, against consensus estimates of $1.14B. The company expects FY16 operating income of $150M-$250M and sees yearly GAAP revenue of $4.4B-$4.6B, against consensus estimates of $4.78B. WHAT'S NOTABLE: Yahoo announced it will pursue a reverse spin of its stake in Alibaba (BABA) alongside an "aggressive" strategic plan to simplify the company. Yahoo plans to reduce its workforce by roughly 15% and exit five offices in Dubai, Mexico City, Buenos Aires, Madrid and Milan. The company also announced it will simplify its product portfolio to emphasize the products that "distinguish the company competitively" and drive the most substantial portion of users, revenue, and market opportunity. It plans to shift most of the resources in its search business toward more forward-leaning mobile search investments, positioning it to "redefine" search for mobile devices as it seeks long-term growth and differentiation. Yahoo noted it will continue to invest in its Mavens strategy to counterbalance legacy business declines, with an emphasis on mobile. In the earnings release, Yahoo's chairman Maynard Webb commented, "The board believes that exploring additional strategic alternatives, in parallel to the execution of the management plan, is in the best interest of our shareholders. Separating our Alibaba stake from our operating business continues to be a primary focus, and our most direct path to value maximization. In addition to continuing work on the reverse spin, which we've discussed previously, we will engage on qualified strategic proposals." Separately, the company disclosed in a regulatory filing that Charles Schwab gave notice he was resigning from Yahoo's board of directors effective February 2. ANALYST REACTION: Piper Jaffray analyst Gene Munster released a note following Yahoo's earnings release indicating the firm is maintaining its Overweight rating on the stock. Munster said he believes the company's focus should remain on the Alibaba split as the company reorganizes in FY16, adding that he continues to see $10 upside potential if the company is able to reach a tax-free resolution. PRICE ACTION: Shares of Yahoo are down 1.58% to $28.60 in after-hours trading. TECHNICAL ANALYSIS: At Yahoo's price, the next support is at the 52-week low at $27.20. Resistance is at the closing price at $29.06.
18:39 EDTBABAAlibaba leads $794M funding round for augmented reality firm Magic Leap
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11:28 EDTBABAEarnings Watch: Yahoo set to unveil cost reduction plan following Q4 report
Yahoo (YHOO) is expected to report fourth quarter earnings after the market close on Tuesday, February 2 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 earnings per share of 13c on revenue of $1.19B. The consensus range is 6c-18c for EPS, and $1.17B-$1.22B for revenue, according to First Call. LAST QUARTER: Yahoo reported third quarter EPS 15c against estimates of 17c on revenue of $1.23B against estimates of $1.26B. The company reported Q3 Gross Search revenue down 2% to $870M, Display revenue down 14% to $509M, price-per-ad up 8%, and price-per-click down 2%. Looking ahead, Yahoo guided Q4 revenue of $1.16B-$1.20B, net income of $10M-$50M, and adjusted EBITDA of $160M-$200M. CEO Marissa Mayer commented that the Q4 guidance is "not indicative of the performance we want." Mayer added that the company will be disciplined on its headcount and will work differentiate search product over the next few quarters. In its Q3 earnings report, Yahoo also announced a services agreement with Google (GOOG, GOOGL) that runs through 2018. Google will provide Yahoo with search advertisements through Google's AdSense for Search service web algorithmic search services through Google's Websearch Service, and image search services. CEO Marissa Mayer said the partnership will be nonexclusive and will remain supplementary to the existing Microsoft (MSFT) relationship. NEWS AND STREET RESEARCH: In the past quarter, Yahoo announced that it suspended work on its plan to spin off remaining holdings in Alibaba (BABA). The company said it will evaluate alternative transaction structures to separate Alibaba stake following concerns about the market's perception of tax risk. Yahoo added that a reverse spin of the Alibaba stake may take a year or more to conclude. In a call to discuss the decision, Yahoo said it was "prudent" to explore options given the tax uncertainty while an Alibaba spin would take too long to get clarity. On an interview with CNBC, Mayer said the core business sale is on a "board level consideration," but no determination was made to sell the company or part of it. Following the announcement, SunTrust said Yahoo made a "great" decision given the tax risks of selling the Alibaba stake. The firm added that a sale of Yahoo's core or the entire company is the most likely outcome after reasoning that investors will not want to undergo "a year long spin process." Analysts at Sterne Agee CRT say the investors should begin to apply tax discounts to the Yahoo Japan stake and the Yahoo core, instead of Alibaba stake. Different reports from the NY Times and the NY Post said staffers and shareholders were beginning to lose faith in CEO Marissa Mayer. In January, Starboard sent a letter to Yahoo's board, expressing its belief that shareholders have lost confidence in the ability of current management. It added, "Despite over three years of effort and billions spent on acquisitions, the management team that was hired to turn around the Core Business has failed to produce acceptable results, in turn, causing massive declines in profitability and cash flow." In response, Yahoo said it will maintain "regular, open dialogue" with all its shareholders. A few days later, a Bloomberg report stated that Yahoo is considering an outright sale of the company. According to sources in a Reuters report, the company will wait to decide on its future strategic steps until it releases the Q4 report. The company wants to gauge shareholder reaction after outlining its "strategic vision" during the conference call. Mayer is expected to announce plans to slash costs and shift the focus away from an improving market share. She is also expected to unveil a plan to cut the company's costs, including several business unit closures, and lashing up to 15% of the company's workforce. Ahead of the earnings report, Re/code's Kara Swisher said investors are looking at how Mayer and CFO Ken Goldman may lay out plans to spin off core assets and other detailed cost reductions. Swisher notes that what may be essential is whether there are "explicit" signs from the CEO and whether the company is open for a buyout. PRICE ACTION: Yahoo shares have dropped more than 11.5%, since the first day of trading following the company's Q2 report. In Tuesday afternoon trading ahead of the Q4 report, Yahoo shares are trading down over 2.5%.
February 1, 2016
09:36 EDTBABAActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
January 29, 2016
16:00 EDTBABAOptions Update; January 29, 2016
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07:58 EDTBABAAlibaba reported good results, says Wells Fargo
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