Text size SoftBank’s Masayoshi Son was a major early investor in Alibaba. Koki Nagahama/Getty Images SoftBank is positioned to sharply sell down its stake in the Chinese tech giant Alibaba through a flurry of deals that have provided much-needed cash to the investment group amid a market downturn, according to a report. The Japanese tech … Read more
It’s the peak stretch of second-quarter earnings season, with roughly 150 S&P 500 firms scheduled to report this week. The highlights on the economic calendar will be a pair of purchasing managers’ index readings and jobs Friday. Wednesday’s earnings highlights will be Booking Holdings , CVS Health , eBay , spirit Modern . Thursday will … Read more
Hong Kong-listed shares of Alibaba Group Holdings Ltd. continued to sink overnight, after US regulators last week added the e-commerce giant to a list of Chinese-owned companies that could be delisted. Alibaba shares fell as much as much as 5.1% in early trading in Hong Kong late Sunday night, Eastern time, although it had recently … Read more
It’s the peak stretch of second-quarter earnings season, with roughly 150 S&P 500 firms scheduled to report this week. The highlights on the economic calendar will be a pair of purchasing managers’ index readings and jobs Friday. Wednesday’s earnings highlights will be Booking Holdings , CVS Health , eBay , spirit Modern . Thursday will … Read more
NEW YORK—The US Securities and Exchange Commission on Friday added Alibaba Group Holding to a list of Chinese companies at risk of being delisted from the US exchanges if their auditors cannot be inspected before spring 2024. Under the Holding Foreign Companies Accountable Act of 2020—which took effect in 2021—the US can ban the trading … Read more
Text size Alibaba shares have slumped since the company said it would apply for a primary listing in Hong Kong. (Photo by GREG BAKER/AFP via Getty Images) Shares of Alibaba , the Chinese e-commerce giant, fell sharply Friday following a report that said billionaire Jack Ma plans to cede control of Ant Group. Alibaba (ticker: … Read more
Amazon.com Inc. decided to cut back after years of pouring money into growth, and the result was a second consecutive quarterly loss, but a beat on sales and continued strong growth from Amazon Web Services helped push the stock higher in after-hours trading Thursday. Amazon AMZN, +1.08% reported a second-quarter loss of $2 billion, or … Read more
Text size Hedge funds have a net short position in Apple stock, according to Jefferies. Nicholas Kamm/AFP via Getty Images Some of the big-money investment funds on Wall Street have been moving out of Big Tech stocks and into other growth names. Hedge funds, in aggregate, cut the percentage of their portfolios invested in a … Read more
Visa Inc. topped expectations with its latest results Tuesday and gave an upbeat signal to investors about the resilience of spending volumes in the current macroeconomic climate. Amid increasing unease about the state of the consumer given factors like rising inflation and higher interest rates, Visa V, -0.83% joined fellow card company American Express Co. … Read more
Activist Elliott Management Holds Stake in PayPal.