Tag Archives: baba

Chinese Tech ADRs Shrug Off Morgan Stanley China Cut

Chinese stocks received a downgrade for the first time in over seven years from Morgan Stanley (MS), which cut its MSCI China Index rating to equal weight from overweight, noting a “worsening technically overbought situation” and a lack of improvement in earnings growth. But many top Chinese techs, including Alibaba (BABA), shrugged off the news or even rallied. The move follows two straight days of losses for the Shanghai Composite Index that

Alibaba Soars On Q4 Earnings Beat; New CEO Named

Alibaba (BABA) reported fiscal fourth-quarter results above Wall Street estimates and said its CEO would step down. China’s No. 1 e-commerce company earned 48 cents per American depository share, above the 42 cents per share analysts polled by Thomson Reuters were expecting. Revenue climbed 45% to $2.81 billion, according to the company, above analysts’ views for $2.77 billion. Alibaba shares jumped 11% in premarket trading on the stock market

Alibaba Trading At All-Time Low Ahead Of Earnings

Alibaba Group (BABA) stock touched an all-time low Tuesday, in line to fall for a fifth straight trading day ahead of its earnings before the open Thursday. Alibaba stock is down nearly 25% this year and competition and other factors weigh on China’s No. 1 e-commerce company. Shares were down 1.5% in afternoon trading on the stock market today, near 79.30. Earlier, Alibaba stock hit an all-time low of 77.77. Alibaba priced its largest-ever U.S.