Yahoo’s (YHOO) plan to spin off of its core Internet business while retaining its 15% stake in China giant Alibaba Group (BABA) is drawing fire from shareholders including New York hedge fund SpringOwl Asset Management, which said that it wants to replace Yahoo CEO Marissa Mayer, according to a report in the Wall Street Journal. “I disagree with this notion that Yahoo can’t be fixed,” said Eric Jackson, managing director of SpringOwl, which has
A survey of China consumers convinced RBC Capital Markets to reiterate an outperform rating on Alibaba Group (BABA), which showed a much stronger position in the online sales marketplace than JD.com (JD) or Amazon.com (AMZN). The survey of more than 1,500 consumers also showed a robust spending behavior, with 90% of Chinese online shoppers hitting the buy button at least two to three times a month. The survey revealed that Alibaba e-commerce
In a move to expand its reach into digital content, Alibaba (BABA) announced it will acquire the South China Morning Post and other media assets of SCMP Group. The acquisition gives Alibaba control of the most prominent English-language publication in Hong Kong, with its coverage focused on China. It’s part of Alibaba’s diversification beyond e-commerce into online content for Chinese consumers Alibaba acquired the newspaper and other assets from