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Stock Market & Financial Investment News

News Breaks
August 12, 2014
17:09 EDTBABA, YHOO, 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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July 31, 2015
08:22 EDTBABAChina may make Alibaba, Tencent to offer others' payment services, Reuters says
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July 30, 2015
06:30 EDTSFTBFSoftBank's Arora: Still committed to turning Sprint around, WSJ reports
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06:02 EDTBABAAlibaba and Chinese Academy of Sciences partner for Quantum Computing Lab
Alibaba’s cloud computing subsidiary, Aliyun, and the Chinese Academy of Sciences have signed a memorandum of understanding in Shanghai to co-found the Chinese Academy of Sciences – Alibaba Quantum Computing Laboratory. Under the terms of the MoU, the Laboratory will conduct pioneering research in quantum theory with a view to discovering ground-breaking security techniques for e-commerce and data centers, as well as to enhancing computing performance.
05:46 EDTYHOOLivetext falls somewhere between Snapchat and Periscope, says Piper Jaffray
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July 29, 2015
12:06 EDTYHOOYahoo introduces live video texting app Livetext
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06:18 EDTYHOOYahoo could launch messaging app at NYC press event, Swisher says
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05:33 EDTBABAAlibaba to invest additional $1B to drive Aliyun global growth
Alibaba announced that it will invest an additional $1B to fuel further growth at Aliyun, its cloud computing arm, a testament to cloud computing as an important growth area for Alibaba. The additional funding will be used to expand Aliyun’s international presence, extend and support an alliance-based global cloud computing ecosystem, and for the development of new cloud and big data solutions that enable customers to increase productivity, lower costs and scale quickly as their businesses grow. Part of the additional $1B investment will contribute to further international expansion for Aliyun as part of this globalization strategy. Aliyun currently provides public cloud computing services in five data centers in China and in Hong Kong, and earlier this year launched its first overseas data center in Silicon Valley. Part of this new investment will be used to set up a global network of Aliyun cloud computing centers in the Middle East, Singapore, Japan and Europe. Aliyun and Yonyou Software also announced a strategic collaboration that will expand business opportunities for both parties and help forward-thinking businesses in the fields of cloud computing, big data, digital marketing and e-commerce. Aliyun will also assist Yonyou on its journey to the cloud and big data. Through this partnership Aliyun can further tap into the enterprise market and deliver a more comprehensive set of services to meet business needs, addressing domestic and international enterprise challenges more quickly. The cooperation will also allow Yonyou to leverage on the extensive resources that Alibaba Group has in place around the world to further grow its enterprise software business.
July 27, 2015
17:36 EDTBABAOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, with weakness attributed to the Chinese market suffering its worst one day loss in over eight years. The U.S. indexes remained in the negatives throughout the day as traders prepare for one of the heaviest weeks for this earnings season. ECONOMIC EVENTS: In the U.S., durable goods orders advanced 3.4% in June versus expectations for a 3.2% increase. Excluding transportation items, the core reading was up 0.8% against estimates for a 0.5% gain. In China, the Shanghai composite index fell 8.5% and the Shenzhen composite dropped 7%, with the moves generally attributed to concerns over growth and fears that the government may pull its market support. Note that Dow Jones quoted the country's top securities regulator this morning as saying China plans to increase stock purchases by the state. COMPANY NEWS: Shares of Teva (TEVA) jumped $10.15, or 16.41%, to $72.07 after the generic drugmaker dropped its pursuit of Mylan (MYL), opting instead to acquire Allergan's (AGN) global generic pharmaceuticals business for $40.5B. Allergan shares rose 6.09% for the session, and Mylan fell 14.51% to $56.37 while reiterating its commitment to pursue Perrigo (PRGO), whose shares gained 3.81% to $193.60. MAJOR MOVERS: Among the notable gainers was Wabtec (WAB), which rose $6.59, or 7.21%, to $97.93 after agreeing to buy Faiveley Transport for roughly $1.8B, noting that it expects EPS accretion in 2016. In other M&A news, Magnetek (MAG) finished the session up $17.27, or 53.55%, to $49.52 after Columbus McKinnon (CMCO) agreed to acquire the company for $50 per share, while Beacon Roofing Supply (BECN) jumped $2.62, or 8.71%%, to $32.70 after agreeing to buy Roofing Supply Group at a transaction value of about $1.1B. Also higher were shares of Xueda Education (XUE), which surged 50.63% after Xiamen Insight Investment announced a deal to purchase the company for $5.50 per American Depository Share. Xueda's positive move came in stark contrast to numerous Chinese stocks traded in New York, with Baidu (BIDU) slipping 4.16% and Alibaba (BABA) losing 2.01% after China's Shanghai composite index plunged overnight. Also lower was McGraw Hill Financial (MHFI), declining $6.01, or 5.69%, to $99.59 after agreeing to acquire SNL Financial for roughly $2.225B in cash. Additionally, GrubHub (GRUB) lost 8.37% to $30.99 following a downgrade from Cowen citing competitive concerns and market saturation. INDEXES: The Dow fell 127.94, or 0.73%, to 17,440.59, the Nasdaq lost 48.85, or 0.96%, to 5,039.78, and the S&P 500 declined 12.01, or 0.58%, to 2,067.64.
14:25 EDTBABAAlibaba August weekly volatility increases into Q2 and outlook
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12:03 EDTBABAOn The Fly: Top stock stories at midday
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11:22 EDTBABAAnalyst says Chinese Internet firms seeing 'healthy' consumer demand
Chinese Internet stocks are among the many classes of Chinese stocks traded in New York that are weak this morning, though research firm Pacific Crest wrote in a note to investors today that after traveling to China and conducting checks, the firm is more upbeat on e-commerce company 58.com (WUBA), online travel agency Qunar (QUNR) and online video company Youku Tudou (YOKU). WHAT'S NEW: After speaking with Chinese advertising and e-commerce companies, as well as with Chinese companies that are exposed to online services, Pacific Crest analyst Cheng Cheng believes that consumer demand for Internet products and services is "stable and healthy." The decline in the stocks of Chinese Internet companies has created buying opportunities, Cheng believes. He identified 58.com and Qunar as his favorite picks in the sector heading into second quarter results. Both stocks have declined about 20% over the last 1-2 months, but the core businesses of both companies are accelerating, the analyst stated. Specifically, most of 58.com's end markets "are showing strong or at least healthy underlying demand," while Qunar is poised to benefit from an acceleration of demand for its hotel rooms, the analyst believes. Meanwhile, Youku is benefiting from strong demand from advertisers, wrote Cheng, who kept Overweight ratings on 58.com and Qunar and maintained a Sector Weight rating on Youku. WHAT'S NOTABLE: Cheng added that he remains "positively biased" towards Baidu (BIDU) and Alibaba (BABA). Baidu is slated to report its second quarter results tonight. He kept Overweight ratings on both stocks. PRICE ACTION: In late morning trading, 58.com slid 4.6% to $62, Qunar retreated 5.7% to $40.65 and Youku fell 4.7% to $19.20 amid broad weakness in Chinese stocks trading in New York after China's home Shanghai composite index fell 8.5% overnight.
11:03 EDTYHOOYahoo to unveil new consumer product at NYC event this week, Re/code says
Yahoo will hold an event in New York City midweek to unveil a new consumer product, Re/code reports, citing sources familiar with the matter. The new product will be mobile in focus, the report says. Reference Link
09:04 EDTYHOOYahoo recommends shareholders reject TRC Capital mini tender offer
Yahoo said it received notice of an unsolicited “mini-tender” offer by TRC Capital Corporation to purchase up to 3M shares of Yahoo’s common stock at a price of $37.45 per share in cash. The offering price is 4.56% below the closing price per share of Yahoo’s common stock on July 22, 2015, the last trading day before the offer was commenced. The offer is for approximately 0.32 percent of the outstanding shares of Yahoo’s common stock. Yahoo said it does not endorse TRC Capital’s unsolicited mini-tender offer and recommends that shareholders do not tender their shares. Yahoo is not associated with TRC Capital, its mini-tender offer or the mini-tender offer documentation.
06:28 EDTYHOOYahoo bought Media Group One in Q1 for $23M, TechCrunch reports
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July 23, 2015
09:05 EDTYHOOYahoo names Lisa Utzschneider chief revenue officer
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July 22, 2015
12:32 EDTYHOOOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as slides in a number of big name tech stocks following their earnings reports dominated the news flow and largely dictated the market's direction. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: The tech sector has been weak, headlined of course by a 5% pullback in shares of Apple (AAPL) after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. Adding to the negative tone in tech stocks, and contributing further to the decline in the Nasdaq, was the 3% drop seen in Microsoft (MSFT) shares after its quarterly report as well as Yahoo's (YHOO) 1% decline after its revenue outlook missed the consensus forecast... Shares of Boeing (BA) and Coca-Cola (KO) fared better than Dow peer Apple after each reported better than expected sales and profits, though neither stock was moving far from where they closed yesterday's trading. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose 10% after the company agreed to be acquired by St. Jude Medical (STJ) for $3.4 billion in cash, or $63.50 per share. St. Jude shares advanced fractionally after the deal, which had been foreshadowed by media reports yesterday, was announced. Also higher following their earnings reports were Intuitive Surgical (ISRG), which gained 10%, Chipotle Mexican Grill (CMG), which advanced 8% and Whirlpool (WHR), which was up 6%. Among the noteworthy losers were a number of suppliers to Apple that declined in tandem with the tech giant after it reported a sequential drop in iPhone sales. Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report. Also sharply lower was antibody-based therapeutics maker XOMA (XOMA), which plunged more than 73% and was downgraded to Neutral at Piper Jaffray after a Phase III trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint. INDEXES: Near midday, the Dow was down 82.22, or 0.46%, to 17,837.07, the Nasdaq was down 42.68, or 0.82%, to 5,165.44, and the S&P 500 was down 6.93, or 0.33%, to 2,112.28.
07:51 EDTBABAAlibaba cloud services president says can catch AWS in 3-4 years, Bloomberg says
Speaking at an event about Alibaba Group's (BABA) accelerated investment in its data centers, the president of the company's Aliyun cloud services arm, Simon Hu said, "It took Amazon (AMZN) 10 years to get where it is today. It took us six years, and we hope to match or even surpass Amazon in three to four years,” according to Bloomberg. Reference Link
07:45 EDTBABABaozun signs cooperation agreement with Alibaba logistics arm Cainiao
Baozun (BZUN) announced that the company has signed a cooperation agreement with Alibaba's (BABA) logistics arm Cainiao Network Technology. The agreement is part of the company's plan to strengthen its logistics network in southern China by opening its sixth and newest logistics warehouse in Guangzhou's Alibaba Cainiao Logistics Park. According to the terms of the agreement, Baozun's Guangzhou warehouse will sync directly with Cainiao's platform, allowing the Company to improve the experience for both its brand e-commerce partners and buyers by closely monitoring and improving each step of the fulfillment process.
07:31 EDTYHOO, BABAYahoo price target lowered to $51 from $54 at JPMorgan
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05:04 EDTBABAAliyun initiates data protection for worldwide cloud consumers
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