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☆ Ad transparency tools are 'major disappointment' ahead of election, new study shows
▼ + stars: | 2024-04-16 | by ( Hayden Field | ) www.cnbc.com time to read: +5 min

That's according to research out Tuesday from Mozilla and CheckFirst, which concludes that leading tech platforms are lagging in their ad transparency tools. None of the results were great, and some were "a major disappointment," according to the researchers. "This is now no longer something that's voluntary," Claire Pershan, EU advocacy lead at Mozilla, told CNBC. It's troubling news as the major platforms prepare for a huge year of elections that affect upward of 4 billion people in more than 40 countries. Lesplingart told CNBC that users had to know the advertiser name, targeted country and date of the advertisement in order to export to an ad file.

Persons: Sundar Pichai, Microsoft's Bing, Claire Pershan, Amaury Lesplingart, CheckFirst, Josh Becker, Lesplingart, Bing, Alibaba's, Zalando, Booking.com, TikTok, it's, we'd Organizations: Inc, Government, Society, Mozilla, Google, LinkedIn, Union's Digital Services, CNBC, Democratic, X, European Commission, DSA, Meta, YouTube Locations: Stanford , California, U.S, Meta, California

☆ Jack Ma is praising Alibaba. Wall Street is more cautious
▼ + stars: | 2024-04-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Alibaba shares got a boost last week from news founder Jack Ma is pleased with the company's turnaround so far. They cut their price target to $100 a share, down from $105 previously, while maintaining an overweight rating. Eddie Wu became CEO of Alibaba in September, and is also acting head of the cloud business. They cut their price target by $1 to $105 a share and maintained their buy rating. They have a price target of $85, and, in contrast to the many buy ratings, rate the stock equal weight.

Persons: Jack Ma, Joe Tsai, Ma, Alex Yao, Tsai, Nicolai Tangen, We've, Eddie Wu, Trudy Dai, Daniel Zhang, Kenneth Fong, Douyin, Nomura, Doubao, Ernie, Qianwen, monetization, Morgan Stanley, Gary Yu, — CNBC's Michael Bloom, Arjun Kharpal Organizations: CNBC, Wall Street, JPMorgan, Norges Bank Investment, Alibaba, Commerce, UBS, PDD Holdings, Norges Bank Investment Management Locations: China, U.S, Taobao, BABA

☆ Jack Ma sends longest memo to Alibaba employees in 5 years
▼ + stars: | 2024-04-10 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Jack Ma has some words of encouragement for Alibaba Group employees. AdvertisementAlibaba employees received a rare memo from cofounder Jack Ma, and the message was motivational. Ma spent years out of the public eye but resurfaced with some appearances and quiet business moves in 2023. His most recent venture into the spotlight is a long message shared to employees on an internal Alibaba forum, Reuters reported. This story is available exclusively to Business Insider subscribers.

Persons: Jack Ma, —, Ma, Eddie Wu, Joe Tsai Organizations: Alibaba Group, Service, Reuters, Business

☆ Stocks making the biggest moves midday: Cava, Nvidia, Deckers, Block, Taiwan Semiconductor and more
▼ + stars: | 2024-04-10 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Cava — Shares jumped 4.4% after Argus upgraded the Mediterranean food chain to buy from hold, saying investors should buy the dip. Cava has a "long runway to growth," the firm said. Nvidia — Shares rose 1.7% as the "Magnificent Seven" leader tried to claw its way out of correction territory . Earnings came in at 45 cents per share, 9 cents ahead of the 36 cents expected by analysts polled by LSEG. Alibaba — Shares rose 1.2% on news that Jack Ma, co-founder of the China-based e-commerce company, touted Alibaba's management and talked about the potential for AI in an internal memo to employees.

Persons: Truist, Cava —, William Blair, Vital, Jefferies, Wednesday's, Albemarle, Jack Ma, Samantha Subin, Michelle Fox Theobald, Lisa Kailai Han Organizations: Hoka, Argus, Nvidia, Vital, Mizuho, Zillow, National Association of Realtors, GoodRx Holdings, Delta Air Lines, LSEG, Bank of America, Taiwan Semiconductor Manufacturing Locations: Cava, China

☆ Alibaba scraps IPO of logistics unit Cainiao, says it will take full ownership
▼ + stars: | 2024-03-26 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

The Alibaba Group company logo is displayed on a screen at the New York Stock Exchange during morning trading on February 14, 2024 in New York City. Alibaba on Tuesday said it was scrapping a planned initial public offering for its smart logistics unit Cainiao, adding to recent woes for the former Chinese tech darling. The shelving of the planned IPO — which would have been a boon to Alibaba, handing it an injection of cash with a key exit deal — comes after deteriorating market conditions in China. In a press release Tuesday, Alibaba said that it was withdrawing its IPO and listing application for Cainiao, and would also buy the remaining shares of the company it does not already currently own. Cainiao, which Alibaba first launched in May 2013, provides warehousing and fulfillment services, last-mile delivery and pick-up posts, and reverse logistics to customers of Alibaba's Taobao and Tmall e-commerce sites.

Persons: —, Alibaba, Joe Tsai Organizations: Alibaba Group, New York Stock Exchange, Investors, Baidu, U.S, Dow Jones Industrial, Tech Locations: New York City, Alibaba, China, U.S, Cainiao, Hong Kong

☆ EU opens probe into Alibaba's AliExpress over illegal content, pornography on platform
▼ + stars: | 2024-03-14 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The logo of the Alibaba office building is seen in the Huangpu District in Shanghai, June 16, 2023. The Commission, the executive arm of the European Union, opened the probe into AliExpress under its landmark Digital Services Act, which came into effect this month. The European Commission on Thursday said it opened a formal investigation into AliExpress, an international e-commerce website run by Chinese tech giant Alibaba , over concerns surrounding the dissemination of illegal content. Other areas of the probe include how AliExpress recommends products to users and whether the e-commerce site complies with a rule that allows a searchable repository of ads that are provided on the platform. This is the third formal probe under the DSA, following those opened into TikTok and social media platform X.

Persons: AliExpress Organizations: European Union, Digital Services, European, DSA Locations: Huangpu District, Shanghai

☆ This Big Tech stock has an 'absolutely compelling' valuation, top fund manager says
▼ + stars: | 2024-02-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

However, the company's revenues and profits have surged since then, and one outperforming fund manager sees the current valuation as a buying opportunity. Alibaba shares are traded in the U.S., Hong Kong and Germany. BABA 1Y line The slump in the company's share price came amid concerns of an economic slowdown in China and increased regulation of the internet sector by authorities in Beijing. Alibaba's cheap share buyback Lapping also pointed to the impact of Alibaba's share buyback program as distinct compared to many richly valued U.S. tech darlings. However, with its share price now 65% off its peak, Alibaba's compensation costs have dwindled dramatically.

Persons: Sean Peche, BABA, It's, Andrew Organizations: Ranmore Fund Management, Wall Street, Tech, Ranmore Global Equity Fund Locations: China, U.S, Hong Kong, Germany, Beijing

☆ CNBC Daily Open: Americans sour on the economy
▼ + stars: | 2024-02-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Mixed bag on Wall StreetU.S. stocks ended mixed Tuesday as investors prepared for key inflation data due out later this week. South Korea's Japan-style measures to boost corporate governance may not work to lift its undervalued stock markets and tackle the so-called "Korea discount." Honor's foray into flip phonesChinese technology firm Honor will launch a foldable flip phone this year, the company's CEO George Zhao told CNBC.

Persons: Joe Biden, Dow, Bitcoin, Tesla, George Zhao, Andrew Organizations: CS Wind America Inc, CNBC, Wall Street, Nasdaq, Apple, Bloomberg, Will, Korea's, Financial Services Commission, Samsung Locations: Pueblo , Colorado, Korea's Japan, Korea

☆ Watch CNBC's full interview with Joe Tsai, Alibaba's new chairman
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Joe Tsai, Alibaba's new chairmanJoe Tsai, Chairman of Alibaba Group speaks to CNBC exclusively on the share performance, business strategy and intensified competition in China's e-commerce space.

Persons: Joe Tsai, Alibaba's Organizations: Alibaba, CNBC, China's

☆ Alibaba's Joe Tsai says China-U.S. relations have reached a new normal
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba's Joe Tsai says China-U.S. relations have reached a new normalIn this new era of U.S.-China relations, Alibaba Chairman Joe Tsai says the countries will still compete fiercely on some fronts but also have to work together on other issues.

Persons: Joe Tsai Locations: China, U.S

Trader works at the post where Alibaba is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 28, 2023. REUTERS/Brendan McDermid Brendan Mcdermid | ReutersChinese e-commerce giant Alibaba is back on track to be a top market player after a period of pressure, co-founder Joe Tsai told CNBC's Emily Tan in an exclusive interview Friday. Questions about Alibaba's future have mounted after a series of internal changes, a scrapped cloud computing IPO and competition for its core e-commerce business. "Where we didn't feel as confident as before, we felt the competitive pressure, but now we're back." watch nowStock Chart Icon Stock chart icon Alibaba

Persons: Brendan McDermid Brendan Mcdermid, Joe Tsai, Emily Tan, Tsai Organizations: New York Stock Exchange, REUTERS, PDD Holdings, ByteDance, Alibaba Locations: New York City, U.S, China, Alibaba

☆ Alibaba's Joe Tsai says his investment in the company is an important show of confidence
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba's Joe Tsai says his investment in the company is an important show of confidenceAlibaba Chairman Joe Tsai says organizational structure and non-core asset sales are key to the company's restructuring efforts as the tech giant focuses on e-commerce and cloud computing.

Persons: Joe Tsai

☆ CNBC Daily Open: U.S. consumers upbeat on the economy
▼ + stars: | 2024-02-20 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Alibaba's overseas betChinese e-commerce giant Alibaba Group is placing its bets on overseas businesses as domestic growth remains weak. [PRO] Only two ETFs shineThere were only two exchange-traded funds in the world that made money every year for the past decade. Both invested in defensive stocks and stood out among 8,300 equity ETFs worldwide, screened by CNBC Pro using FactSet data.

Organizations: Macy's Herald, CNBC, Nasdaq, Dow Jones, Home Depot, Walmart, Discover Financial Services, Alibaba, Bank, CNBC Pro Locations: Macy's, New York City, U.S

☆ Alibaba bets on overseas e-commerce unit amid sluggish growth in China
▼ + stars: | 2024-02-20 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

Costfoto | Nurphoto | Getty ImagesChinese tech giant Alibaba Group is betting on its overseas businesses while domestic consumption growth remains sluggish. James Dong, CEO of Southeast Asian e-commerce giant Lazada Group, was named as Daraz's acting CEO. Dong took over as Lazada Group CEO from Chun Li in June 2022, after running the company's Thailand and Vietnam operations. Intense competitionThe e-commerce business that once propelled Alibaba to success has run into challenges with upstart competitors such as PDD, while consumption growth in China remains sluggish. Alibaba posted 9% year-on-year revenue growth in the third quarter to about $31 billion.

Persons: Eddie Wu, Yinglan Tan, AliExpress, Bjarke Mikkelsen, Jan, James Dong, Lazada, Tan, Alibaba, Zhang, Dong, Chun Li, Li, Pierre, Lucy Peng, PDD Organizations: Nurphoto, Getty, Digital Commerce, Tmall, Tmall Group, Alibaba, Ventures, Lazada, CNBC, Ventures Partners, Alibaba Group, PDD Holdings, Hong Kong, HK Locations: Huangpu District, Shanghai, Taobao, monetization, Alibaba, Pakistan, Asia, China, Thailand, Vietnam, Hong Kong

☆ CNBC Daily Open: U.S. consumers stay bullish on the economy
▼ + stars: | 2024-02-20 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Alibaba's overseas betChinese e-commerce giant Alibaba Group is placing its bets on overseas businesses as domestic growth remains weak. The company's latest earnings showed its international e-commerce business unit was a bright spot, with revenue up 44% from a year ago. [PRO] UBS picks 'hidden gems'Small-and medium-sized stocks are often overlooked but "have the charm of being hidden gems," according to UBS.

Persons: Hong Organizations: CNBC, People's Bank of China, CSI, Nasdaq, Dow Jones, Home Depot, Walmart, Alibaba, Citi, Discover Financial Services, UBS Locations: Chicago, China, Asia, U.S, Europe

☆ Temu's Super Bowl ad reveals we've been saying its name wrong
▼ + stars: | 2024-02-12 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

The ultra-discount retailer Temu bought an eye-popping three $7 million Super Bowl ad spots. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Though not quite a rebranding, this pronunciation is new for the two-year-old e-commerce site, which aired its first (single) Super Bowl commercial last year. In that ad, Temu is clearly (and predictably) pronounced "tee-moo." Those results make the estimated $21 million look like money well spent for Temu's parent company, PDD Holdings.

Persons: —, PDD Organizations: Temu, Service, Super, PDD Holdings, JPMorgan Locations: Temu, China

☆ Analyst explains why Alibaba's recent results 'don't matter that much'
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst explains why Alibaba's recent results 'don't matter that much'Jiong Shao, analyst at Barclays, discusses the "three things" that have moved the stock, two of which are negative.

Persons: Shao Organizations: Barclays

BANGKOK (AP) — Share were mostly higher in Asia on Thursday after the S&P 500 neared the 5,000 level for the first time. Hong Kong’s benchmark fell while Shanghai advanced after China replaced its top stock market regulator. Late Wednesday, China's top stock regulator was replaced by a former chairman of the Shanghai Stock Exchange as part of those efforts. On Thursday, the Shanghai Composite index gained 1.3% to 2,865.90 and the Shenzhen Components index in China's smaller main market also added 1.3%. The S&P 500 gained 0.8%, coming within a fraction of a point of the 5,000 level before ending the day at 4,995.06.

Persons: Wu Qing, Yi Huiman, Hang Seng, Australia's, SET, Snapchat Organizations: Shanghai Stock Exchange, China Securities Regulatory Commission, Communist Party, Nikkei, Ford, Dow Jones, Nasdaq, . New York Community Bancorp, Signature Bank, Ford Motor, Enphase Energy, CVS Health, Corp, Vans, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Shanghai, China, Tokyo, Beijing, Shenzhen, Seoul, India, Wall

☆ Here are Jim Cramer’s rapid-fire takes on 5 stocks in the news Wednesday
▼ + stars: | 2024-02-07 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

"I think you should still buy Baba in light of the fact the Chinese government is panicking about their stocks," Jim Cramer said, referencing recent stimulus efforts in the country . CVS Health : Despite lowering its 2024 adjusted earnings outlook due to higher medical costs, shares of CVS Health climbed more than 3% Wednesday. "Aetna is better than people think, and I think that [CEO] Karen Lynch is better than people think," Jim said. New York Community Bancorp : Moody's Investor Service downgraded the regional bank's credit rating to junk, roughly a week after NYCB reported a surprise fourth-quarter loss and cut its dividend payout. However, "you can't boost confidence once you cut your dividend," Jim said, adding that "you can't buy" shares of NYCB right now.

Persons: Jim Cramer, Aetna, Karen Lynch, Jim, NYCB, Morgan Stanley, Uber, Roblox Organizations: CVS, CVS Health, Aetna, York Community Bancorp, Moody's Investor Service, CNBC, Club, Technologies Locations: Wells Fargo

☆ Alibaba's long descent: What this means for the Chinese market
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba's long descent: What this means for the Chinese marketCNBC's Deirdre Bosa reports on Alibaba as the company's stock took a hit after it missed market expectations for revenue in the December quarter.

Persons: Deirdre Bosa Locations: Alibaba

☆ Alibaba shares jump 4% in premarket trade after it hikes share buyback program by $25 billion
▼ + stars: | 2024-02-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Shares of Alibaba jumped in premarket trade, as the company missed market expectations for revenue in the December quarter, but announced it is increasing the size of its share buyback program by $25 billion. U.S.-listed shares in the Chinese e-commerce giant were more than 4% higher in pre-market trade. Here's how Alibaba did in its fiscal third quarter, compared to LSEG estimates:Revenue: 260.35 billion Chinese yuan ($36.6 billion) versus 262.07 billion yuan expected. On top of its structural changes, Alibaba also scrapped the hotly-anticipated spinoff of its cloud computing business last year. More recently, two of Alibaba's co-founders, Jack Ma and Joe Tsai, in January bought shares worth around $200 million in the Chinese e-commerce giant.

Persons: Alibaba, Pinduoduo, Eddie Wu, Daniel Zhang, Alibaba's, Jack Ma, Joe Tsai, Evelyn Cheng Organizations: Revenue, Alibaba Locations: Suqian City, Jiangsu Province, China, premarket, U.S, Beijing

☆ Bill Gates and Jeff Bezos-backed startup discovers large-scale copper deposit in Zambia
▼ + stars: | 2024-02-05 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

KoBold Metals, a California-based metals exploration company backed by billionaires including Bill Gates and Jeff Bezos, said that it has discovered a vast copper deposit in Zambia. A spokesperson for KoBold Metals told CNBC on Monday that the company believes its Mingomba copper project in Zambia "will be one of the world's biggest high-grade large copper mines." "It is Kakula-scale in size and grade," KoBold Metals President Josh Goldman said in a statement shared on the firm's social media site X. Ivanhoe Mines, a Canadian mining company founded by billionaire magnate Robert Friedland, owns nearly 40% of the Kamoa-Kakula copper mine. KoBold Metals says it uses artificial intelligence to create a "Google Maps" of the Earth's crust to help find new deposits of copper, lithium, cobalt and nickel.

Persons: Bill Gates, Jeff Bezos, Josh Goldman, Robert Friedland, Andreessen Horowitz, Ray Dalio, Virgin Group's Richard Branson, Alibaba's Jack Ma Organizations: KoBold Metals, CNBC, Democratic, Ivanhoe Mines, KoBold, BHP, Breakthrough Energy, Bridgewater Associates Locations: Victoria, Zambia, Zimbabwe, Livingstone, California, Democratic Republic of the Congo, Canadian, Norwegian

☆ Alibaba, ASML and more: Jefferies reveals its 'highest-conviction' stocks to buy — and one has 118% upside
▼ + stars: | 2024-02-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Investment bank Jefferies has revealed its top stock picks that are exposed to major themes like innovation, new products, and emerging markets. The investment bank forecasts Prudential shares will rise 118% to 18,000 British pence over the next 12 months. The investment bank expects Hong Kong-listed shares of Alibaba to rise to 128 Hong Kong dollars ($17), which implies an 84% upside potential. The investment bank expects shares to rise 57% over the next 12 months. The investment bank believes ASML's current valuation of 33 times forward earnings is too low since it forecasts 49% earnings growth over the next two years.

Persons: Jefferies, Prudential Jefferies, Prudential's, Anil Wadhwani, Eddie Wu, Wu, Alibaba's, Joe Dickerson, Dickerson, — CNBC's Michael Bloom Organizations: Prudential, Jefferies, Hong, U.S, HSBC Jefferies, HSBC, ASML Semiconductor, DexCom Locations: U.K, Asia, China, India, Africa, Hong Kong, Alibaba

☆ Meta's continued rally could hinge on the fortunes of upstart retailers Temu and Shein
▼ + stars: | 2024-01-31 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +9 min

Temu is owned by PDD Holdings , a Chinese company that moved its principal office to Ireland last year. Meta is expected to report revenue growth of 22% for the quarter to $39.2 billion, according to analysts surveyed by LSEG, formerly Refinitiv. JMP analysts estimated that Temu and Shein spent roughly $600 million and $200 million, respectively, on Facebook and Instagram ads in the third quarter. In December, Temu sued Shein, alleging questionable business practices and a "mafia-style intimidation of suppliers," according to legal documents. Meta isn't the only U.S. internet company effected by the speedy growth from Temu and Shein.

Persons: Mark Zuckerberg, Jack Ma, Shu Zhang, Victor Lee, Lee, who's, Shein, Meta, Pavlo Gonchar, Temu, didn't, Susan Li, data.AI, It's, Chris Mack, Harding Loevner, they've, Mack, Shein confidentially, Mike Gallagher, Gallagher, Brian Wieser, Josh Silverman, Silverman Organizations: Alibaba, China Development Forum, Reuters, Facebook, Hasbro, Unified Commerce, Amazon, PDD Holdings, U.S, Mobile, Meta, LSEG, Getty, CNBC, Cyberspace Administration, China, Street Journal, Google Locations: Beijing, China, Ireland, Singapore, UKRAINE, U.S, United States, Wall, Asia, Pacific, Temu, Meta

☆ Here are five stocks to buy as the market keeps rallying to record highs
▼ + stars: | 2024-01-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

The market has officially entered a new bull market, leaving investors wondering which stocks can continue to outperform. Will Rhind, CEO at GraniteShares, thinks AI remains one of the strongest market themes in 2024. Nvidia Nvidia is "very much the leader in terms of AI stocks," said Rhind. AMD shares are up more than 20% year to date, and 135.8% during a 12-month period. Alibaba The China-based tech giant has experienced some turbulence, amid greater concerns of a weak Chinese economy and battered stock market.

Persons: Will Rhind, Rhind, hasn't, Alibaba, Jack Ma, Joe Tsai, Meta Rhind, we're Organizations: Dow Jones, Nasdaq, Nvidia, AMD, Meta Locations: China

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