Consumer stocks were narrowly lower in late Thursday trading, with the Consumer Staples Select Sector SPDR Fund (XLP) and the Consumer Discretionary Select Sector SPDR Fund (XLY) each sinking 0.1%, erasing much larger midday declines.
Consumer stocks were lower in Thursday trading, with the Consumer Staples Select Sector SPDR Fund (XLP) dropping 0.6% and the Consumer Discretionary Select Sector SPDR Fund (XLY) sinking 0.8%.
Alibaba Group (NYSE: BABA) rose in pre-market trading in New York; its shares increased by more than 6%. The online retailer considerably surpassed the average expectation of 35 billion yuan by reporting net profits of 46.8 billion yuan ($6.8 billion). Just above expectations, r
So, how should investors play that? My preference would be for Livent. They are a pure play lithium miner who are profitable already, something unique in the space.
Over the last few decades, technology has been a driving force behind much of the world’s economic growth. The technology industry is always changing, with new innovations and technologies appearing on a regular basis. For investors looking to invest in technology stocks, t
The stock market has been under pressure this week, as investors have grown concerned that January's big gains in the Nasdaq Composite (NASDAQINDEX: ^IXIC) and other major stock indexes could prove to be just another head fake in a bear market that has lasted more than a year now
Consumer stocks were steady pre-bell Thursday. The Consumer Staples Select Sector SPDR Fund (XLP) was recently inactive while the Consumer Discretionary Select Sector SPDR Fund (XLY) was up 0.3%.
The NASDAQ 100 Pre-Market Indicator is up 125.33 to 12,191.6. The total Pre-Market volume is currently 62,376,320 shares traded.The following are the most active stocks for the pre-market session: Terran Orbital Corporation (LLAP) is +0.1685 at $3.10, with 5,162,768 shares trade
Alibaba Group Holding Ltd reported better-than-expected quarterly revenue on Thursday, as the Chinese e-commerce giant benefited from the country easing COVID-19 curbs.
Alibaba Group (
NYSE:BABA
) is slated to release its third quarter Fiscal 2023 results on February 23, before the market opens. The Chinese e-commerce giant’s performance is likely to have been impacted by the lockdown in China and a slowing economy, partially offset by strong momentum in international commerce business.
The Street expects
BABA to post an adjusted profit of $2.42 per ADS in Q3, compared with the year-ago quarter figure of $2.46 per ADS. Meanwhile, revenue is pegged at $35.83 billion, lower than last year’s revenue of $37.94 billion.
Factors Affecting Q3 Performance
As per data provided by the National Bureau of Statistics of China, total retail sales declined 1.8% year-over-year in December. This marked the third straight month of a fall in sales. It is likely that the regional lockdowns due to China’s strict COVID-19 policy played a role in the decline.
Nevertheless, Alibaba’s international commerce business might have provided some respite. The segment has been witnessing growth in the number of users across its platforms.
The TipRanks’ Website Traffic Tool suggests that things are improving for Alibaba. Our website traffic screener shows that the number of visits to Alibaba’s websites — aliexpress.com, alibaba.com, and taobao.com
increased by 14.6% (year-over-year) for the quarter ending in December.
Moving on to Alibaba’s cloud business, strong domestic demand for its products is expected to have supported Alibaba’s fiscal Q3 performance. Further, the company’s focus on diversifying its other businesses, such as digital media & entertainment and its logistics arm, seems to be paying off. The units witnessed solid growth in the last quarter, with the trend expected to have continued in the to-be-reported quarter as well.
Is BABA a Buy or Hold?
On TipRanks,
BABA stock is a Strong Buy. It has nine unanimous Buy recommendations. Moreover, the analyst’s price target of $143 implies 50.4% upside potential.
Ending Thoughts
Alibaba’s performance in the to-be-reported quarter is less likely to be impressive owing to a slowing economy, tight Chinese government regulations, and the impact of COVID lockdowns.
On the other hand, investors are likely to keep a close watch on the management’s commentary about the benefits to the company from the reopening of China’s border. Also, Alibaba’s progress in the launch of its own version of ChatGPT is likely to attract attention.
Disclosure
The following companies are expected to report earnings prior to market open on 02/23/2023. Visit our Earnings Calendar for a full list of expected earnings releases.American Tower Corporation (REIT) (AMT)is reporting for the quarter ending December 31, 2022. The reit company's
The following companies are expected to report earnings prior to market open on 02/23/2023. Visit our Earnings Calendar for a full list of expected earnings releases.American Tower Corporation (REIT) (AMT)is reporting for the quarter ending December 31, 2022. The reit company's
Alibaba Group Holding Limited’s BABA third-quarter fiscal 2023 results, slated for release on Feb 23, are expected to reflect the impacts of the strengthening cloud computing segment.Moreover, the segment has turned out to be one of the key contributors to the company’s o
The stock market dropped hard after Friday’s option expiry. Once spec shorts were wiped out of the way by the mini-short squeeze, the market could resume its natural trend. Down.
Since the end of the December, shares of Alibaba (BABA) have been on an impressive run, suggesting renewed optimism that a rebound in China might be underway as the country emerges from its zero-COVID sluggishness.
Michael Burry has made quite the name for himself in the investing world thanks to his legendary call prior to the Great Recession that the housing market would collapse. Burry proceeded to buy credit default swaps on mortgage bonds right before the Great Recession and made a kil
Alibaba Group (
NYSE:BABA
) is slated to release its third quarter Fiscal 2023 results on February 23, before the market opens. The Chinese e-commerce giant’s performance is likely to have been impacted by the lockdown in China and a slowing economy, partially offset by strong momentum in international commerce business.
The Street expects
BABA to post an adjusted profit of $2.42 per ADS in Q3, compared with the year-ago quarter figure of $2.46 per ADS. Meanwhile, revenue is pegged at $35.83 billion, lower than last year’s revenue of $37.94 billion.
Factors Affecting Q3 Performance
As per data provided by the National Bureau of Statistics of China, total retail sales declined 1.8% year-over-year in December. This marked the third straight month of a fall in sales. It is likely that the regional lockdowns due to China’s strict COVID-19 policy played a role in the decline.
Nevertheless, Alibaba’s international commerce business might have provided some respite. The segment has been witnessing growth in the number of users across its platforms.
The TipRanks’ Website Traffic Tool suggests that things are improving for Alibaba. Our website traffic screener shows that the number of visits to Alibaba’s websites — aliexpress.com, alibaba.com, and taobao.com
increased by 14.6% (year-over-year) for the quarter ending in December.
Moving on to Alibaba’s cloud business, strong domestic demand for its products is expected to have supported Alibaba’s fiscal Q3 performance. Further, the company’s focus on diversifying its other businesses, such as digital media & entertainment and its logistics arm, seems to be paying off. The units witnessed solid growth in the last quarter, with the trend expected to have continued in the to-be-reported quarter as well.
Is BABA a Buy or Hold?
On TipRanks,
BABA stock is a Strong Buy. It has nine unanimous Buy recommendations. Moreover, the analyst’s price target of $143 implies 50.4% upside potential.
Ending Thoughts
Alibaba’s performance in the to-be-reported quarter is less likely to be impressive owing to a slowing economy, tight Chinese government regulations, and the impact of COVID lockdowns.
On the other hand, investors are likely to keep a close watch on the management’s commentary about the benefits to the company from the reopening of China’s border. Also, Alibaba’s progress in the launch of its own version of ChatGPT is likely to attract attention.
Disclosure
Below is Validea's daily guru fundamental report for ALIBABA GROUP HOLDING LTD - ADR (BABA). Of the 22 guru strategies we follow, BABA rates highest using our Earnings Revision Investor model based on the published strategy of Wayne Thorp. This strategy looks for companies with
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