Alibaba Group has acquired an 18 percent stake in SINA Corp (NASDAQ:SINA)’s Weibo, which is a micro-blogging service similar to Twitter, for a total of $596 million. In December, there were rumors that the e-commerce giant Alibaba is looking to invest in micro-blogging service Weibo. According to the announcement made by SINA Corp (NASDAQ:SINA), one option, which Alibaba had, was to acquire 30 percent of Weibo in the future. Weibo will earn revenue of...
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Jonathan Lu Zhaoxi was named as the new Chief Executive of China’s e-commerce giant Alibaba.com Limited (HKG:1688). The new CEO will step in the shoes of the Group’s founder Jack Ma who announced in January that he will be leaving the position to make way for the younger leaders at the firm. The move at this point in time could well indicate the concluding plans for a share sale, a management revamp in January,...
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Alibaba.com Ltd. (PINK:ALBIY) (HKG:1688) hired Credit Suisse Group AG (NYSE:CS) (CSGN) and Goldman Sachs Group, Inc. (NYSE:GS) (GS) to handle its IPO arrangement, which was officially announced in December last year, reported Bloomberg today. Accredited as the biggest e-commerce company in China, Alibaba has been preparing for its initial public offering since December 2012, after having bought half of its stake from Yahoo! Inc. earlier in the same year. The IPO is anticipated to raise about $3 billion – $4...
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Alibaba Group Holding Limited announced today that its founder, Jack Ma, will step down as chief executive on May 10, hinting speculations that the company is preparing for an initial public offering. Jack Ma, one of China’s best known corporate leaders, will continue to act as the executive chairman in China’s largest e-commerce company. This move hinted a possibility that the e-commerce company will finalize its initial public offering with a management restructuring announced...
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Chinese Internet juggernaut, Alibaba.com Limited (HKG:1688), is likely to come up with its much anticipated IPO, claims a report from Kara Swisher of AllThingsD (who has incredible sources, especially at Yahoo). In the recent loosely-sourced report, a circular referred to the Chinese site on a leaked note that purportedly said the planning would begin in the second half of 2013 for a public offering in the end of 2013 or early 2014. However according to a...
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Yahoo! Inc. (NASDAQ:YHOO) is taking a major step towards reshaping the company for the future. The Internet firm has come a long way in the previous five months, with shares of the company easily outperforming S&P 500, by gaining 8.9% against 1.23% of S&P. Through restructuring efforts, Yahoo seeks to grow and respond quickly to customer needs. The capital reallocation by Yahoo is driving the stocks of the company for the revaluation. Yahoo, who...
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Alibaba.com Limited (HKG:1688), Chinese e-Commerce giant, announced that Jacqueline Reses, EVP of people and development at Yahoo! Inc. (NASDAQ:YHOO) is the latest to join Alibaba’s Board of Directors. Yahoo is at liberty by its shareholding agreement to appoint one person to the Board at Alibaba, out of the total of four. The company sold its 40 percent stake of Alibaba for $7.6 billion, but still holds a 23 percent stake in the company. However, indicating...
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On Wednesday, after the closing bell, Yahoo! Inc. (NASDAQ:YHOO) reported third quarter earnings. The company beat estimates with 3Q revenues coming in at $1.09bn and EPS at $0.35, vs Street estimates of $1.08bn in revenue and EPS of $0.26. EPS primarily beat forecasts due to a $135mn foreign tax credit. Net display, at flat y/y missed analysts’ +1% estimate (page views light, macro pressure in Europe), but search grew 11% and beat, due to RPS improvements and...
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Yahoo! Inc. (NASDAQ:YHOO) reports third quarter results on Monday October 22nd after the market close. All eyes will be on the new CEO, Marissa Mayers. BGC Partners, is even out with a report titled; YAHOO EARNINGS PREVIEW: WHAT WILL BE DIFFERENT UNDER MARISSA ? However, investors will be focusing on many other things, besides the CEO. But first we will focus a bit New COO: Yahoo! Inc. (NASDAQ:YHOO) recently announced Henrique de Castro as its new...
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Several major companies are reporting earnings today. We have a calendar/preview of the companies reporting (mostly third quarter) below. We highlight the companies reporting before and after the market close. The companies include, Caterpillar Inc. (NYSE:CAT), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Hasbro, Inc. (NASDAQ:HAS), SunTrust Banks, Inc. (NYSE:STI), Peabody Energy Corporation (NYSE:BTU), V.F. Corporation (NYSE:VFC), Yahoo! Inc. (NASDAQ:YHOO), Texas Instruments Incorporated (NASDAQ:TXN), Western Digital Corp. (NASDAQ:WDC), and Zions Bancorporation (NASDAQ:ZION) Caterpillar Inc. (NYSE:CAT) is reporting third quarter earnings on Monday Morning before the open....
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Goldman Sachs Group, Inc. (NYSE:GS) has changed its outlook for Yahoo! Inc. (NASDAQ:YHOO) to a ‘buy’ rating. As per a report from Goldman, Yahoo’s balance sheet and core business are worth more than the company’s current stock price. The revised outlook also highlights the reduced uncertainty over the Alibaba.com Limited (HKG:1688) stake’s value. The company’s future looks secure, as they have a new CEO, and also Yahoo! Inc. (NASDAQ:YHOO) Japan’s stake has appreciated by...
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