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Stock Market & Financial Investment News

News Breaks
August 18, 2014
06:38 EDTBABAIrregularities at subsidiary may raise questions about Alibaba, NY Times says
After the disclosure of accounting irregularities at Alibaba's Alibaba Pictures Group, investors may question the quality of Alibaba's due diligence process, The New York Times stated Friday afternoon. Besides its acquisition of a 60% stake in Alibaba Pictures, Alibaba has made at least six major deals recently, the newspaper reported. The irregularities at Alibaba Pictures date to before the purchase of the company in June, AP reported Friday. Reference Link
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September 12, 2014
06:52 EDTBABAUpdate: Alibaba initiated with an Outperform at Wedbush
Wedbush initiated Alibaba (BABA) with an Outperform rating and $80 price target. The firm believes Alibaba offers compelling growth and profitability on a global basis and that Chinese e-commerce can grow 30%+ for several years given low penetration. The analyst said Alibaba will be able to drive gross merchandise volumes greater than eBay (EBAY) and Amazon.com (AMZN) combined given leveraged network effects and a marketplace business model in the largest e-commerce market in the world.
06:38 EDTBABAAlibaba initiated with an Outperform at Wedbush
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September 11, 2014
13:02 EDTBABANoted investors Cooperman, Tepper, Loeb interested in Alibaba, CNBC says
Famed investor Leon Cooperman told CNBC in an email that his hedge fund "like[s] what we see so far" from Alibaba and are highly impressed with Jack Ma and the company's management team. Three other notable hedge fund investors who attended Alibaba's first road show presentation were Dan Loeb of Third Point, David Tepper of Appaloosa Management and Dan Benton of Andor Capital Management, according to CNBC, citing witnesses in New York. Note that Yahoo! (YHOO) has a significant stake in Alibaba, some of which it has agreed to sell as part to the Chinese company's upcoming IPO. Reference Link
06:37 EDTBABAMuddy Waters founder says Alibaba could defraud investors, NY Times reports
Alibaba could defraud investors if it wanted to do so, as any Chinese company could be fraudulent, short-seller Carson Block, the founder of Muddy Waters, told The New York Times. "China is to stock fraud as Silicon Valley is to technology, the newspaper quoted Block as saying. Reference Link
September 10, 2014
06:54 EDTBABAAlibaba IPO three times oversubscribed, China Daily says
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06:08 EDTBABACentury 21 China Real Estate to offer properties on Alibaba Taobao.com
IFM Investments, the exclusive franchisor for the Century 21 brand in China, announced that its subsidiary Shanggu has begun displaying property inventory on Alibaba Group's Taobao.com, China's leading B2C e-commerce platform. In addition to standard inventory listings, Shanggu will hold online property auctions in cooperation with leading property consulting company Fangpaipai, providing buyers with a flexible, safe and authentic platform to search for their ideal property.
September 9, 2014
11:22 EDTBABAAlibaba raises fair value estimate to $63 per share, BrightWire says
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September 8, 2014
17:40 EDTBABAYahoo exploring ways to minimize taxes on sale of Alibaba shares, Barron's says
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16:18 EDTBABAOn The Fly: Closing Wrap
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12:18 EDTBABAOn The Fly: Midday Wrap
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10:03 EDTBABAAlibaba initiated with an Overweight and $100 price target at Atlantic Equities
Atlantic Equities initiated Alibaba with an Overweight and $100 price target. The firm said Alibaba is the dominant Chinese ecommerce company in a rapidly growing market. The analyst expects its take rate expansion to accelerate as sales mix shifts to Tmall and the drag from the mobile shift eases.
08:05 EDTBABAAlibaba lower than forecast valuation seen giving room to raise, Bloomberg says
Alibaba is seeking a valuation of as much as $162.7B and could raise as much as $21.1B via its U.S. initial public offering, but analysts surveyed in July put its value at $187B and JG Capital analyst Henry Guo believes the lower than expected value estimate will give the company room to raise the IPO price during its roadshow, said Bloomberg. Reference Link
06:45 EDTBABAYahoo to receive $8.8B in first tranche of Alibaba stake, says Cantor
Cantor Fitzgerald says that based on Alibaba's (BABA) updated F1 on Friday, Yahoo (YHOO) will receive $8.8B in the first tranche of its Alibaba stake. Cantor estimates that at the mid-point, Alibaba's proposed market cap is $158.3B, with Yahoo's stake valued at $33B. The firm notes this is below its $180B estimate. Cantor says Yahoo is only selling 140M shares in the first tranche, leaving 384M shares to be sold in a year-plus, likely at a higher valuation and on better tax terms. Cantor keeps a Buy rating on the stock.
06:28 EDTBABAAlibaba recently added three new partners, WSJ reports
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September 5, 2014
15:51 EDTBABAAlibaba to set IPO price in $60-$66 range, CNBC says
12:05 EDTBABAAlibaba to begin trading on Thursday, September 18, CNBC says
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11:49 EDTBABAAlibaba to let employees, 'friends,' buy shares in upcoming IPO, WSJ reports
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September 4, 2014
06:10 EDTBABAGoldman overseeing early share trading in Alibaba IPO, Reuters says
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August 31, 2014
18:19 EDTBABAAlibaba delays investor meetings as it answers SEC questions, Bloomberg says
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16:17 EDTBABAAlibaba to launch IPO week of September 8, WSJ says
Alibaba, which is in the process of completing a monthslong dialogue with U.S. regulators, is looking to launch its U.S. IPO early in the week of September 8, says the Wall Street Journal, citing sources. Alibaba shares could begin trading by September 18 or 19 in New York, added the Wall Street Journal. Reference Link
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