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Stock Market & Financial Investment News

News Breaks
August 12, 2014
17:09 EDTYHOO, BABA, SFTBFYahoo says Alibaba to sell assets relating to its SME loan business for $518M
Yahoo disclosed in a regulatory filing that on August 12, Yahoo (YHOO), entered into a Share and Asset Purchase Agreement, the SAPA, by and among Yahoo, Alibaba Group Holding (BABA), Alipay.com, Zhejiang Ant Small and Micro Financial Services Company, SoftBank (SFTBF), APN Ltd., Jack Ma Yun, Joseph Chung Tsai and certain of their affiliates. Alibaba Group agreed to sell certain securities and assets primarily relating to its SME loan business to Small and Micro Financial, in exchange for aggregate cash consideration of RMB3,219M, US$518M. The sale of the SME loan business is subject to receipt of regulatory approvals and other customary closing conditions. Such cash consideration will be paid to Alibaba Group no later than the earlier of the second anniversary of the closing of such sale and a “qualified IPO” of Small and Micro Financial or Alipay. In addition, pursuant to certain software system use and service agreements, Alibaba Group will receive annual fees for a term of seven years. These fees will be determined as follows: for calendar years 2015 to 2017, Alibaba Group will be paid an annual fee equal to 2.5% of the average daily balance of the SME loans provided by SME loan entities; and in calendar years 2018 to 2021, Alibaba Group will be paid an annual fee equal to the amount of the fees paid in the calendar year 2017.
News For YHOO;BABA;SFTBF From The Last 14 Days
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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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08:28 EDTSFTBFSoftbank to acquire DramaFever, terms not disclosed
SoftBank Internet and Media and DramaFever announced a definitive agreement under which SIMI will acquire DramaFever. Morrison & Foerster LLP acted as legal advisor to the SoftBank Group. The Raine Group LLC acted as financial advisor and Gunderson Dettmer acted as legal advisor to DramaFever.
08:08 EDTYHOOYahoo to close Amman, Jordan office by end of year, TechCrunch reports
Yahoo will close its office in Amman, Jordan by the end of the year, TechCrunch reports, citing a confirmed statement by a company spokesperson. The company will funnel its Arab-language and English-language Arab-focused Internet portal to an office in Dubai and other regions. A Yahoo spokesperson says the move is part of its "global efforts to streamline operations." Reference Link
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
13:10 EDTYHOOGoogle's Schmidt says Amazon is company's biggest search rival, FT reports
Eric Schmidt, the executive chairman of Google (GOOG), says Amazon (AMZN) is his company's biggest rival in search, not Bing (MSFT) or Yahoo (YHOO), the Financial Times reports. Schmidt also argued in Berlin that Google should not be regulated "as if it were the gatekeeper of the internet," given the influence of Amazon and Facebook (FB). Reference Link
12:13 EDTYHOO, BABAYahoo 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.
10:08 EDTYHOOOn The Fly: Analyst Upgrade Summary
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09:28 EDTYHOO, BABAYahoo 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
14:37 EDTYHOOYahoo looking to make Tumblr another YouTube, Business Insider says
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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.
06:19 EDTYHOOYahoo lays off 400 employees in India, WSJ reports
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October 7, 2014
10:02 EDTYHOOYahoo volatility at low end of one-year range
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09:40 EDTYHOOYahoo lays off up to 2,000 employees in India, TechCrunch reports
Yahoo has laid off up to 2,000 employees in India as a result of a move to consolidate into fewer offices, TechCrunch reports, citing local blog The Next Big What. Yahoo has confirmed the consolidation, but did not confirm how many people are affected by the effort. Reference Link
09:24 EDTYHOOFormer Yahoo CFO says AOL merger makes 'little sense,' CNBC reports
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