Yahoo (YHOO) stock was up Wednesday after the company responded to a media report on Tuesday by saying a possible Internal Revenue Service rule change would not jeopardize the Web portal’s plan to hold a tax-free spinoff of its shares in China Internet giant Alibaba Group (BABA) . Yahoo was up more than 3.5% in morning trading in the stock market today, near 42.50. Yahoo fell 7.6% Tuesday on a Bloomberg report about comments by a senior technician
On the heels of a lawsuit over the sale of fake goods, Alibaba (BABA) and Israeli startup Visualead on Monday unveiled a new, scannable code designed to prevent counterfeiting. The “Dotless Visual Codes” are much like black-and-white QR codes, except that they include colorful logos or images. The new codes, part of Alibaba’s new “Blue Stars” platform, are more secure than traditional QR codes, claims Visualead. Alibaba has a stake worth several
Netflix stock surged to a record high Friday on reports that the subscription Internet television service is negotiating with partners to launch in China. Netflix (NFLX) jumped 4.5% to close at 613.25. Intraday its shares notched an all-time high of 618.44. Year to date, Netflix stock is up 67%. In just the past four weeks, it has climbed 29%. Netflix is in talks with several Chinese online broadcast firms to enter China through a partnership, according to reports by Bloomberg and the Wall Street Journal. Netflix has spoken with Shanghai-based BesTV New Media and Wasu Media, which is partially owned by Alibaba (BABA) founder Jack Ma.