The battle for the hearts and wallets of Chinese consumers got more intense Monday, with Alibaba Group making a wide-ranging deal that takes aim at JD.com. Alibaba (BABA), China’s No. 1 provider of e-commerce platforms and services, will pay $4.63 billion for 19.99% of Suning Commerce, one of the largest consumer electronics retail chains in China. It has more than 1,600 stores in 289 cities. The move puts Alibaba in direct
Tiny Aquinox Pharmaceuticals on Monday had a trading day that was crazy even by biotech standards, halted twice by the Nasdaq due to volatility as it soared more than fivefold to a peak of 55.75, ending the day up a mere 81%, at 18.88. That’s on top of a 482% gain on Friday, bringing the two-day stock advance to 955%. The stock closed Thursday at 1.79. The trigger was Aquinox’s (AQXP) positive midstage trial results for AQX-1125, its only
A base just recently started to take shape for JD.com (JD), but that pattern could be at risk as news of Alibaba’s (BABA) investment in an e-commerce rival has sent shares plunging in the stock market today . Alibaba is pumping $4.6 billion dollars into Suning Commerce, one of the largest consumer electronics retail chains in China. Among its wide variety of products, Suning sells Apple (AAPL) iPhones and iPads, as does JD. JD shares gapped down