Tag Archives: baba

Alibaba Price Target Cut On China Economy Concerns

Alibaba Group (BABA) received two price target cuts following its revelation that purchases made on its e-commerce sites are coming in lower than expected for the current quarter. Analyst Youssef Squali at Cantor Fitzgerald clipped his price target on Alibaba to 88 from 95 but maintained a buy rating. Pacific Crest Securities analyst Cheng Cheng lowered his price target on Alibaba to 80 from 94, but held an outperform rating. Alibaba stock, which

What’s Yahoo’s ‘Plan B’ For Tax-Free Alibaba Spinoff?

Yahoo (YHOO) received at least two price target cuts Wednesday following news that the Web portal’s planned tax-free spinoff of its remaining stake in Alibaba Group (BABA) could be in peril. The cuts came after the Internal Revenue Service said Tuesday that it won’t grant Yahoo’s request for a ruling saying the spinoff meets the agency’s active trade or business requirement. Both Alibaba and Yahoo shares were rising as of early afternoon in the

Yahoo’s Alibaba Tax-Free Spinoff Plan Hit By IRS

Web portal Yahoo (YHOO)’s planned spinoff of its 384 million share stake in Alibaba Group (BABA) ran into a major roadblock on Tuesday after the Internal Revenue Service said its lawyers won’t grant Yahoo’s request for a ruling saying the spinoff meets the agency’s active trade or business requirement. Yahoo has withdrawn its request for the ruling, the Sunnyvale, Calif.-based Web portal said in a filing made Tuesday with the U.S. Securities and