Alibaba Group Holding Limited (BABA) - NYSE
  • Fri, May 13, 3:50 PM
    • Amid objections from other members, an anti-counterfeiting group is suspending the membership of Alibaba (BABA -2.6%), long criticized as a leading marketplace for fake items.
    • The International Anti-Counterfeiting Coalition says it failed to inform the board about conflicts of interest around the coalition's president Robert Barchiesi -- who owns stock in Alibaba and had close ties to one of the company's executives, who had hired Barchiesi's son while at Apple.
    • So it will suspend the new class of membership that allowed Alibaba to join, as well as a couple of other members.
    • Companies including Gucci, Michael Kors and Tiffany have quit the coalition recently while objecting loudly over Alibaba's inclusion in the group.
    • Now read The Gaps In Chanos' Short Position In Alibaba »
    | Fri, May 13, 3:50 PM | 25 Comments
  • Thu, May 5, 1:25 PM
    • Though Yahoo's (YHOO +2.4%) efforts to sell its core business get far more ink, Alibaba's (BABA +3.7%) movements continue having a bigger impact on its shares. The web portal is trading near $37 today after Alibaba posted mixed FQ4 results - EPS missed due to large investments in areas such as local services and entertainment content, but revenue beat as annual sales growth accelerated to 39% from FQ3's 32%.
    • Driving the acceleration: Alibaba's Chinese retail marketplace (Taobao/Tmall) revenue rose 41% Y/Y to $2.84B, an improvement from FQ3's 35% growth. Marketplace GMV rose 24% to $115B, and Alibaba's monetization rate on these sales improved to 2.47% from 2.17%. International commerce revenue rose 21% to $308M, and cloud computing/Internet infrastructure revenue 175% to $165M.
    • Aggressive spending led Alibaba's costs/expenses to rise to 60% of revenue from 58% a year ago. Cost of revenue rose to 35% of revenue from 29%; R&D, sales/marketing, and G&A were either flat or down as a % of revenue. $118M in losses were recorded for Alibaba's share of its Koubei local services JV with Alipay parent Ant Financial. Alibaba ended FQ4 with $17.3B in cash and $9B in debt.
    • Yahoo's 384M-share Alibaba stake is currently worth $30.2B.
    | Thu, May 5, 1:25 PM | 16 Comments
  • Thu, May 5, 9:12 AM
    | Thu, May 5, 9:12 AM | 2 Comments
  • Thu, May 5, 7:24 AM
    • FQ4 non-GAAP net income of ¥7.635B or ¥3.02 per share vs. ¥7.741B and ¥3.00 one year ago. In dollar terms, EPS of $0.47 up 1% Y/Y on revenue of $3.751B up 39%.
    • China retail marketplaces revenue of $2.844B up 41% Y/Y; U.S. of $2.029B up 149%.
    • GMV in China of $115B up 24% Y/Y, with mobile accounting for 73% of that (vs. 51% a year ago). Mobile MAUs of 410M up 42% Y/Y.
    • Cloud computing operation grows 175% to $165M.
    • Non-GAAP FCF of $681M for quarter, $7.953B for fiscal 2016.
    • 5.8M shares repurchased during quarter for $365M.
    • Conference call at 7:30 ET
    • Previously: Alibaba misses by $0.58, beats on revenue (May 5)
    • BABA +4.6% premarket
    | Thu, May 5, 7:24 AM | 15 Comments
  • Wed, Apr. 20, 10:59 AM
    • With Yahoo's (YHOO +3%) first-round bid shortlist out, where was Daily Mail & General Trust (OTCPK:DMTGY)? The operators of the world's most-visited English-language website were a prominent late arrival to the Yahoo bidding scene, but took a back seat (joined by IAC, Comcast and Time Inc.) to Verizon, YP, Rakuten and private equity.
    • Daily Mail now says it didn't put a bid in with Yahoo by Monday's deadline, but it is in talks with parties interested in Yahoo. The publisher is up 0.6% in London.
    • Yahoo's process may become a full-fledged saga for 2016. Not only is the existing sale process quite likely to run into June, but secondary interest in the resulting asset mix from the likes of Alibaba (BABA +0.7%), SoftBank (OTCPK:SFTBY -0.1%) and Daily Mail could mean even more transfers of businesses ahead.
    • Alibaba had a strong (if less dramatic) case to become a dark horse, since it may have been able to pull off the functional equivalent of a highly tax-advantaged buyback.
    • Now read Yahoo: Who's Ready To Take On A Legacy Digital-Native Media Turnaround? »
    | Wed, Apr. 20, 10:59 AM | 15 Comments
  • Tue, Apr. 5, 4:25 PM
    • The buyout of Youku Tudou (NYSE:YOKU) by Alibaba (BABA -2.2%) is complete, the company says, following last month's shareholder approval.
    • The deal, about $4.2B, was completed through a merger with Alibaba merger subsdiary Ali YK Subsidiary Holding Limited. Barring excluded shares, shareholders received the equivalent of $27.60 per ADS in merger consideration.
    • The company has requested that trading ADS on the NYSE be suspended.
    • Now read Alibaba Group: The Most Attractive Growth Stock In 2016 »
    | Tue, Apr. 5, 4:25 PM | 5 Comments
  • Mon, Feb. 29, 3:49 PM
    • Alibaba (BABA +3.3%) has disclosed the company, founder/chairman Jack Ma, and vice chairman Joseph Tsai have taken part in a $500M buyback that's part of a $4B buyback program announced last August. Altogether, the purchases cover less than 0.5% of Alibaba's outstanding shares.
    • Alibaba has rallied back above its $68 IPO price on a slightly weak day for equities. Shares currently go for 20x an FY17 (ends March '17) EPS consensus of RMB22.20 ($3.39).
    | Mon, Feb. 29, 3:49 PM | 16 Comments
  • Fri, Feb. 26, 5:04 PM
    • Activist investor Eric Jackson, a persistent thorn in the side of Viacom (VIA -1.8%, VIAB -2.4%), isn't all down on the company's prospects -- saying that Paramount Pictures has an able management team whose hands have been tied by Viacom leadership.
    • Tuesday's news that Viacom would seek a minority investor into Paramount was the first positive move for shareholders from CEO/Chairman Philippe Dauman in the past two months, Jackson says. Over the past month he and his firm SpringOwl Management have been calling for the board to remove management, and for independent directors to quit.
    • He's now arguing for Viacom to spin Paramount into a tracking stock, to keep cash raised from a stake sale inside the unit rather than applying it to reduce Viacom debt -- though some of Viacom's debt should then be assigned to Paramount to reflect the support it got in film financing.
    • As for companies in the conversation to make the big move into Paramount, despite "one technology company" prominent in the rumors, Jackson thinks ultimately the investor will be Chinese, likely Dalian Wanda or Alibaba (NYSE:BABA). The studio is worth more than the $4B other analysts have figured, he says; higher than $5B is more likely.
    • VIAB has lost 31% of value over the past three months.
    • Previously: Paramount's likely suitors: Foreign firms, domestic tech (Feb. 24 2016)
    • Previously: Activist urges independent directors at reeling Viacom to quit (Feb. 10 2016)
    | Fri, Feb. 26, 5:04 PM
  • Wed, Feb. 24, 3:56 PM
    • With Viacom (VIA +1%, VIAB +0.3%) looking to sell a strategic stake in Paramount Pictures, who could be interested in buying?
    • Foreign investors are likely, amid a wave of investment in Hollywood from overseas. China's Perfect World is putting $250M into a development slate at Universal, while in-country counterpart Bona Film Group said in November it was putting $235M into a slate at Fox.
    • Analysts suggest the studio is worth about $5.5B today, notes The Hollywood Reporter, so a minority stake could still come to $2B. Viacom paid $9.8B for the studio a dozen years back.
    • Major conglomerates like Alibaba (BABA +0.6%), Dalian Wanda and Fosun (OTCPK:FOSUF) have an appetite for Hollywood deals -- and Wanda already owns cinema chain AMC and producer Legendary Entertainment, while exploring a stake in Lions Gate. A key interest with those firms is ability to get Paramount products into China, where Transformers is a major phenomenon. Tencent (OTCPK:TCEHY +0.2%) has similar international media appetites.
    • Fosun is trying to buy Bona and take it private, which would give it Bona's entry into Fox's slate.
    • Back home, Lions Gate (LGF +8.8%) is now a frequent source of tie-up rumors -- and is on the move today amid Amazon.com (AMZN +0.1%) content-deal chatter. Both Lions Gate and Amazon could use a piece of Paramount for different reasons.
    • Meanwhile, Apple (AAPL +1.5%) has been floated as a possible bidder for Time Warner, as it may be shopping for content to feed TV dreams -- but a stake in Paramount would come far cheaper than trying to swallow Time Warner whole for $50B-$80B.
    • Previously: Viacom, up 5%, confirms Paramount investment feelers (Feb. 23 2016)
    | Wed, Feb. 24, 3:56 PM | 5 Comments
  • Mon, Feb. 22, 8:07 AM
    • Groupon (NASDAQ:GRPN) is extending gains from Friday, following reports that Alibaba (NYSE:BABA) might buy a bigger stake or even mount a takeover bid for the company.
    • GRPN +6.1% premarket
    | Mon, Feb. 22, 8:07 AM | 8 Comments
  • Tue, Feb. 16, 11:10 AM
    • Many beaten-up Chinese tech names are up strongly on a morning the Nasdaq is up 1%. The gains comes after the Shanghai and Shenzhen exchanges respectively rose 3.3% and 4.1% overnight; strong new loan data and PBOC cash-removal efforts helped.
    • Alibaba (BABA +6.7%) is one today's standouts, and that naturally means Yahoo (YHOO +5.8%), which (for now) is still pursuing a reverse spinoff of its core business to better monetize its 384M-share Alibaba stake, is also posting big gains. Fellow Chinese e-commerce firms JD.com (JD +7.6%), Vipshop (VIPS +7.9%), LightInTheBox (LITB +6.7%), and Dangdang (DANG +8.3%) are also doing well.
    • Other big gainers include Weibo (WB +9.5%), Momo (MOMO +16.8%), Leju (LEJU +9.4%), NetEase (NTES +6.7%), Changyou (CYOU +6.5%), Bitauto (BITA +8.9%), 58.com (WUBA +6.8%), Cheetah Mobile (CMCM +5.8%), NQ Mobile (NQ +5.4%), 500.com (WBAI +5.6%), Baozun (BZUN +6.7%), and Xunlei (XNET +6.8%).
    • ETFs: CQQQ, KWEB, QQQC, EMQQ
    | Tue, Feb. 16, 11:10 AM | 16 Comments
  • Thu, Jan. 28, 8:00 AM
    • Alibaba's (NYSE:BABA) is up 2.8% premarket after posting an FQ3 beat fueled by improving Chinese marketplace monetization. Yahoo (NASDAQ:YHOO), whose value remains heavily tied to its 384M-share Alibaba stake, is up 2.4% ahead of its Feb. 2 Q4 report. Top Alibaba rival JD.com (NASDAQ:JD) is also up 2.4%.
    • Chinese marketplace performance: Alibaba's Chinese retail marketplace (Taobao/Tmall) GMV rose 23% Y/Y in FQ3 to $149B, a slowdown in growth from FQ2's 28% and FQ1's 34%. However, monetization/take rate improved to 2.98% from 2.7% a year ago, thanks to a surge in mobile monetization rate to 2.88% from 1.96%. That allowed Chinese retail commerce revenue to rise 35% to $4.4B (83% of total revenue), even with FQ2's growth rate.

      Marketplace annual active buyers rose by 21M Q/Q to 407M; mobile MAUs rose by 47M to 393M. Mobile was 68% of GMV vs. 62% in FQ2 and 42% a year ago, and 65% of Chinese retail revenue. Alibaba predicts Chinese commerce revenue will grow faster than GMV "for the foreseeable future." The company also says it has "taken aggressive steps to capture market share in key cities and key categories."
    • Other businesses: Chinese wholesale commerce revenue +35% Y/Y to $179M. International commerce +17% to $318M, with retail revenue totaling $97M and wholesale $221M. Cloud computing & Internet infrastructure (inc. AliCloud) +126% to $126M. Other businesses -7% to $277M.

      The Koubei local services JV with Alipay parent Ant Financial produced GMV of $2.4B, with daily transactions average more than 5M in December. Same-day delivery is offered in seven major cities via Alibaba's logistics platform, and next-day delivery in 88 cities (up from 41 in FQ1).
    • Financials: Cost of revenue rose to 32% of revenue from 29% a year ago, thanks to higher traffic acquisition costs and investments in new businesses. R&D and sales/marketing spend each fell to 11% of revenue from 12%, and G&A to 7% from 9%. Overall, costs/expenses were 64% of revenue if including stock compensation, and 51% if excluding it.

      Free cash flow totaled $3.66B, topping net income of $2.53B. Alibaba ended FQ3 with $18.3B in cash and $8.3B in senior notes/bank borrowings.
    • In other news, the WSJ reports Alibaba has agreed to sell its stake in Chinese local services leader Meituan-Dianping (MEIT - competes with Koubei) for ~$900M. The sale price involves a ~$12.5B valuation, less than the $15B Meituan-Dianping was valued at in a recent funding round.
    • Alibaba's FQ3 results, earnings release
    • Update (11:08AM ET): Alibaba has given back its premarket gains: Shares are now down 1.7%. Yahoo is down 1%.
    | Thu, Jan. 28, 8:00 AM | 34 Comments
  • Wed, Jan. 20, 11:47 AM
    • Tech large-caps aren't being spared as the Nasdaq drops 2.6%, and the S&P 2.7%, in the market's latest plunge. A slew of companies with $10B+ market caps are seeing declines that on many recent days were largely reserved for smaller ex-momentum plays.
    • The casualty list includes Alibaba (BABA -5.3%), and that of course means Yahoo (YHOO -6%) is along for the ride. Top Alibaba rival JD.com (JD -6.2%) is also down strongly; Chinese macro fears continue to run high.
    • Facebook (FB -4.9%), which (unlike most peers) remains well above where it traded 12 months ago, has fallen towards $90. Q4 results arrive on Jan. 27.
    • Cisco (CSCO -5.2%) has fallen below $23. Possibly weighing: Piper's Troy Jensen has reported weak Q4 networking reseller survey results, and predicts Cisco will issue light FQ3 (April quarter) guidance next month with its FQ2 report. His FQ3 sales estimate has been cut by $400M to $11.9B (below a $12.07B consensus).
    • DRAM/NAND flash maker Micron (MU -10.3%) is among the biggest decliners, with shares falling into the single digits. Micron now trades for 6.6x an FY17 (ends Aug. '17) EPS consensus of $1.48. Online payments leader PayPal (PYPL -4.4%) is having a rough day as well.
    • IBM (IBM -4.7%), meanwhile, has made new multi-year lows after providing soft 2016 EPS guidance to go with a slight Q4 beat. Netflix (NFLX -6%) has sold off in spite of reporting strong Q4 subscriber adds.
    | Wed, Jan. 20, 11:47 AM | 15 Comments
  • Thu, Jan. 7, 2:00 PM
    • Hammered three days ago as U.S. and Chinese markets tumbled, the story is much the same today for U.S.-traded Chinese tech firms. The Nasdaq is down 2.7%, and the Shanghai and Shenzhen exchanges respectively fell 7% and 8.3% overnight amid an ongoing selloff in the yuan, which now trades at 6.59 per dollar.
    • The Guggenheim China Tech ETF (CQQQ -4.7%) is now down 8% in 2016. It's still 30% above an August low of $25.36.
    • Internet giants Baidu (BIDU -7.1%) and Alibaba (BABA -6.5%) are among the names seeing steep losses. Others include Sina (SINA -6%), Weibo (WB -8.5%), Qunar (QUNR -12.4%), JD.com (JD -6.4%), ChinaCache (CCIH -9.6%), Jumei (JMEI -8.7%), Zhaopin (ZPIN -5.7%), Baozun (BZUN -7.4%), NQ Mobile (NQ -5.8%), and Momo (MOMO -6.1%). Over in Hong Kong, messaging/gaming leader Tencent (OTCPK:TCEHY) fell 4%.
    • ETFs: QQQC, KWEB, EMQQ
    | Thu, Jan. 7, 2:00 PM | 16 Comments
  • Mon, Jan. 4, 12:58 PM
    • With concerns about macro issues both inside and outside China's borders running high, the Shanghai and Shenzhen exchanges respectively fell 6.9% and 8.2% overnight before getting halted. Today in the U.S., the Nasdaq is down 2.6% and the S&P 2.1%.
    • Naturally, U.S.-traded Chinese tech stocks are having a rough day. Big decliners include e-commerce firms Alibaba (BABA -6.2%), JD.com (JD -7.9%), Vipshop (VIPS -7.8%), and Baozun (BZUN -6.8%). Others include auto site owners Bitauto (BITA -7.2%) and Autohome (ATHM -8.5%), Sohu (SOHU -6.9%) and gaming subsidiary Changyou (CYOU -8.8%), mobile app developer Cheetah Mobile (CMCM -7%), online classifieds leader 58.com (WUBA -5.9%), and CDN owner ChinaCache (CCIH -6.4%).
    • SouFun is down sharply after naming a new CFO. Qunar is seeing big losses after naming a new CEO, COO, and CFO.
    • In other news, Alipay parent Ant Financial is looking to raise more funds ahead of a long-expected IPO. Bloomberg reports Alipay is seeking at least $1.5B; the Chinese online payments leader was valued at $45B in a June round. Alibaba is entitled to 37.5% of Alipay's pre-IPO profits, and a 37.5% stake at IPO time.
    • ETFs: CQQQ, KWEB, QQQC, EMQQ
    | Mon, Jan. 4, 12:58 PM
  • Dec. 30, 2015, 11:53 AM
    • China's Yibada.com reports Alibaba (NYSE:BABA) is ending its travel services partnership with Ctrip (CTRP -2.7%), through which Ctrip's offerings are promoted on Alibaba's travel platform, on Jan. 1.
    • The report comes two months after Ctrip struck a deal with Baidu to obtain a major stake in rival Qunar in exchange for Ctrip shares. Alibaba and Baidu compete in numerous markets (I, II). Alibaba launched its Alitrip travel brand in late 2014.
    | Dec. 30, 2015, 11:53 AM | 4 Comments
Company Description
Alibaba Group Holding Ltd. operates as an online and mobile commerce company. It provides online and mobile marketplaces in retail and wholesale trade, as well as cloud computing and other services. The company's major businesses include Taobao Marketplace, which is a China's online shopping... More
Sector: Services
Industry: Specialty Retail, Other
Country: China