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☆ China’s Alibaba stock drops almost 6% after earnings report shows profit tumbled 86%
▼ + stars: | 2024-05-14 | by ( ) edition.cnn.com time to read: +3 min

China’s largest e-commerce group by market share has had a tumultuous year since announcing the biggest shake-up in its 25-year history in March 2023, splitting into six units and refocusing on its core businesses, including domestic e-commerce. Group net income, however was 3.27 billion yuan ($452 million), compared with 23.52 billion yuan a year ago. The group reported revenue of 221.87 billion yuan in the three months ended March 31, compared with a consensus estimate of 219.66 billion yuan, according to LSEG data. The segment delivered with 45% growth, compared with an expected 39% revenue rise, according to LSEG data. It also saw losses nearly double to 4.1 billion yuan ($567 million) from 2.2 billion a year ago as it invested heavily to remain price competitive and shorten delivery times.

Persons: Joe Tsai, ”, “, Jacob Cooke Organizations: Reuters, Consumers, Tmall, Technologies Locations: Hong Kong, New York, China

☆ Here are Friday's biggest analyst calls of the day: Nvidia, Tesla, Apple, 3M, Bumble, Nike, Walmart, Palantir & more
▼ + stars: | 2024-05-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wedbush reiterates Apple as outperform Wedbush said it's standing by its outperform rating on shares of Apple . Bank of America reiterates Palantir as buy Bank of America said it's standing by its buy rating on shares of Palantir. Bank of America initiates Apogee Therapeutics at buy Bank of America said the biotech company has best-in-class potential. Bank of America upgrades Bumble to buy from neutral Bank of America sees "multiple expansion" for the dating app company. Bank of America reiterates Walmart as buy Bank of America said it's bullish heading into Walmart earnings on May 16.

Persons: Bernstein, Wedbush, Palantir, Wells, CRNC, Stifel, TD Cowen, Morgan Stanley, Raymond James, it's, Bumble, Lear, Tesla, Oppenheimer, Guggenheim Organizations: Nvidia, Citi, Cheesecake, Apple, Worldwide, " Bank of America, Bank of America, Mizuho, Apogee Therapeutics, Warner Brothers Discovery, HSBC, TPG, of America, Dominion, underperform Bank of America, Dominion Energy, Barclays, Nike, Walmart, Supercenters, Moffett Locations: WWDC, Palantir, OW, U.S

☆ Shopify says AI has helped keep its head count flat
▼ + stars: | 2024-05-08 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Shopify executives said during the company's first-quarter earnings call on Wednesday that its head count has stayed flat for the past three quarters and that using AI has been a major contributing factor. Shopify has been touting its "new shape" since it sold its logistics business and laid off 20% of its workforce in May 2023. This story is available exclusively to Business Insider subscribers. It's also found efficiencies by using AI throughout the company. Internal AI tools have also allowed Shopify to offer multilingual support 24/7, whereas it was previously offered only during set working hours.

Persons: Shopify, We've, Harley Finkelstein, It's, Jeff Hoffmeister, Hoffmeister, crafters, —, Charlie Miner Organizations: SEC, Business, Shopify's Locations: mstone@businessinsider.com

☆ Shopify embraced a 'new shape' after a post-pandemic slump and has charted an 18-month comeback
▼ + stars: | 2024-04-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +8 min

Read previewIn October 2022, Shopify's once high-flying stock hit its lowest price since before the Covid pandemic. AdvertisementNow, after two rounds of layoffs and a divestment of its fulfillment and logistics business, the picture looks a bit different for Shopify. Shedding a "money-losing logistics business"Dropping logistics and fulfillment is a major part of Shopify's stock comeback story. In May 2023, Shopify announced it would be selling the logistics business entirely to Flexport. In May 2023, Shopify cut another 20% of its workforce as it sold its logistics business to Flexport.

Persons: —, Shopify's, Shopify, Oppenheimer, Ken Wong, Wong, D.A, Davidson, Gil Luria, Tobi Lütke, Lütke, Luria, Morgan Stanley, Jeff Hoffmeister, Bhavin Shah, GMV, We've, Shah Organizations: Service, Business, Systems, Investors, SEC, Deutsche Bank Locations: Salesforce, mstone@businessinsider.com

Analyst Laura Champine also lowered her price target to $80 from $85, implying a 6% increase for the stock. "New York City office is one of the few REIT subsectors seeing improved demand," the analyst wrote. The bank double-upgraded the e-commerce platform to overweight from underweight and hiked its price target to $62 from $35. Feather added that eBay stock is currently trading at a discount versus peers, with Etsy trading around 35% higher. "JetBlue's DNA aligns with our broader preference for loyalty, premium, and international exposure ... albeit with less vigor than the Big 3," the analyst wrote.

Persons: TD Cowen, Morgan Stanley, Needham, Laura Martin, Andy, Martin, — Jesse Pound, Laura Champine, Champine, — Lisa Kailai Han, Tesla, Emmanuel Rosner, Elon Musk, Rosner, Fred Imbert, John Kim, Kim, SLG, KeyBanc, Eric Heath, Heath, Nathan Feather, Feather, James West's, West, Jamie Baker, Baker, Lisa Kailai Han, Matthew Ramsay, Ramsay Organizations: CNBC, Nvidia, Amazon, Wholesale, BJ's Wholesale, Deutsche Bank, Tesla, Reuters, BMO Capital Markets, Green Realty, New York City, SL Green Realty, SL Green, SL, KeyBanc, eBay, EBAY, GE, ISI, GE Vernova, General Electric, JPMorgan, JetBlue JPMorgan, JetBlue, Jetblue, Technology, NVIDIA, Match Group Locations: China, Manhattan, York City, Wednesday's, York

☆ What’s the cheapest way to the edge of space? Ride a balloon
▼ + stars: | 2024-04-16 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

There are three types of space tourism companies now vying to open up this experience to the wealthy, the superwealthy and the out-of-this-world wealthy. HALO SpaceLast week in London, HALO Space CEO Carlos Mira unveiled the interior design for its Aurora space capsule, which his team hopes will transport 10,000 passengers to near-space by 2030. HALO Space declared at the presentation that it’s offering “new, safe and zero-emissions alternatives to space flights,” and having already completed five successful test flights, that it’s the most advanced company in its sector. Within a very limited space, comfortable seating, generous viewing windows, storage areas and, most importantly, a toilet cubicle all had to be integrated. Flights will launch pre-dawn, so that guests can experience a “white” sunrise at the edge of the stratosphere with the deep black of space beyond.

Persons: what’s, ”, Yuri Gagarin, “, there’s Elon, Jeff Bezos, Richard Branson’s Virgin, Carlos Mira, Frank Stephenson, Alpha Romeo, Mira, Stephenson Organizations: London CNN, SpaceX, Richard Branson’s Virgin Galactic, HALO Space, Ferrari, CT Engineering, HALO Locations: Soviet, there’s, London, ”

☆ Here are Wednesday's biggest analyst calls: Tesla, Amazon, Alphabet, Meta, UPS, Tyson, Disney, SoFi & more
▼ + stars: | 2024-04-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

"We are initiating coverage of SoFi Technologies (SOFI) with a BUY rating and a $10 price target." "Weighing Robinhood's Compelling New Product Roadmap Against a Now More Demanding Stock Price / Valuation." "As a result of higher revenue and Adjusted EBITDA estimates, we are raising our price target to $230 from $160 previously, and maintaining our MP rating." Wells Fargo reiterates Alphabet as equal weight Wells lowered its price target on Alphabet to $141 per share from $144. Guggenheim reiterates Disney as buy Guggenheim raised its price target on the stock to $140 per share from $125. "

Persons: Needham, SoFi, Baird, INFA, Piper Sandler, Piper, KBW, DA Davidson, ZETA, Goldman Sachs, Goldman, it's, Carlisle, Raymond James, Jones Lang LaSalle, Eaton Deutsche, Wells, it's bullish, Tyson, Guggenheim, Tesla, Riley, Gordon Haskett Organizations: SoFi Technologies, Ecolab Inc, Citi, Zeta Global, DA, Carlisle Companies, Deutsche Bank, Eaton, Fluence, Meta, PepsiCo, Argus, JPMorgan, UW, Tyson Foods Citi, UPS, Barclays, Amazon, Disney, Guggenheim, Deutsche, Holdings, Booking Holdings, Inc, Costco, Northland, WT Locations: Northland

☆ Shopify's new price hikes could put pressure on its app developer ecosystem
▼ + stars: | 2024-02-14 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

The price hike comes a year after Shopify raised prices for its base subscription plan. Many have shrugged off the most recent price increase. Shopify frequently touts its third-party app ecosystem as an advantage for merchants looking to grow their business efficiently. Many of the most popular Shopify apps have also raised prices recently. It's possible that some lower-volume Plus merchants will downgrade to more basic subscription options due to cost.

Persons: —, Shopify, Andy Cloyd, Stephen Watson, Cloyd, ” Erman Küplü, Küplü, ” Watson, Jeff Hoffmeister, Hoffmeister Organizations: Service, Merchants, Business, Elysian Solutions, BI Locations: GMV, North America, mstone@insider.com

☆ Delivery Hero says it hit 2023 sales growth targets in early results after 26% stock plunge
▼ + stars: | 2024-02-05 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Delivery Hero CEO Niklas Östberg speaking at the Noah tech conference in Berlin on June 13, 2019. Delivery Hero said the results were driven by healthy order growth in many of its geographies. Most notably, Delivery Hero also gave some rosy guidance for 2024, with the delivery company forecasting group GMV growth of 7-9% for the year, higher than its performance in 2023. Delivery Hero said it would publish additional preliminary numbers for the fourth quarter in a trading update slated for Feb. 14, when it was originally due to report numbers. Delivery Hero is one of the largest food delivery services globally with more 2.2 billion users.

Persons: Niklas Östberg, Britain's Deliveroo Organizations: Noah, Analysts Locations: Berlin, Indonesia

☆ Ex-Shopify merchants built a no-code platform to simplify e-commerce. Check out the 13-slide pitch deck Krepling used to raise $3.3 million.
▼ + stars: | 2024-01-25 | by ( Madeline Stone | ) www.businessinsider.com time to read: +3 min

Brothers Liam, 23, and Travis Gerada, 20, were Shopify merchants before they decided to get into the more technical side of e-commerce. They found that running a modern e-commerce business requires many different software integrations that often don't share data with each other, making it difficult to manage and make decisions. Some use Shopify or other platforms like WooCommerce, while others have used Krepling to grow from the ground up. "We found that merchants were typically expanding their e-commerce stack to optimize the cost to reach different consumers across many different channels. Take a look at the 13-slide pitch deck that Krepling used to raise its seed round:

Persons: Liam, Travis Gerada, they're, Krepling, Jason Calacanis, Liam Gerada, Gerada Organizations: Business, Bull City Venture Partners, Ventures, Tribes Ventures, Colabora Ventures, Broadshade Investments Locations: GMV

☆ BYD and more: AllianceBernstein names top Asian stock picks for the next 6 months, gives one over 60% upside
▼ + stars: | 2024-01-19 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

"We also believe the demand for memories will remain strong thanks to the growing demand for generative AI and more broadly for compute," the bank's analysts wrote. AllianceBernstein expects the share price of Samsung to hit 92,000 Korean Won ($68.44) in the next 12 months, giving it potential upside of 29.4%. "BYD's unparalleled cost structure and vertical integration of powertrain will enable it to achieve a dominant market share in this segment," the bank's analysts wrote. AllianceBernstein's target price of 334 Hong Kong dollars ($42.71) gives it around 61.5% upside. AllianceBernstein gave the giant a price target of $170, giving it around 33% upside.

Persons: Bernstein, Ann Larson, AllianceBernstein, Tesla, Holdings AllianceBernstein, PDD, — CNBC's Michael Bloom Organizations: Street, Samsung Electronics, SK Hynix The South, Samsung, Won, SK Hynix, Hong, Holdings, PDD Holdings Locations: Asia, China, Hong Kong

☆ Poland's Allegro sees higher holiday-quarter earnings after Q3 core profit beat
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 16 (Reuters) - Poland's biggest e-commerce platform Allegro (ALEP.WA) said on Thursday it expects earnings to rise 20%-23% year-on-year at home in the crucial holiday quarter, after its third-quarter core profit topped expectations. Allegro's adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 32.4% to 778 million zlotys ($191.7 million) in the Polish market, compared to 760 million zlotys expected in a company-compiled consensus. Gross merchandise value (GMV), an industry metric used to measure transaction volumes, rose in Poland by 10.5% to 13.3 billion zlotys in the reporting quarter. The number of active buyers in Poland grew for a sixth consecutive quarter to 14.5 million, it added. ($1 = 4.0587 zlotys)Reporting by Anna Pruchnicka; Editing by Kim Coghill and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Roy Perticucci, Perticucci, Gross, Anna Pruchnicka, Kim Coghill, Varun Organizations: REUTERS, Thomson Locations: Slovakia, Hungary, Slovenia, Croatia, Czech Republic, Poland

☆ China's JD.com posts higher Q3 profit as supply snarls ease
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

A sign of China's e-commerce company JD.com is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 15 (Reuters) - Chinese e-commerce firm JD.com reported quarterly revenue below estimates on Wednesday, but posted a surge in profit as supply chain problems eased. JD.com has fewer popular livestreamers than its competitors, such as Austin Li, who exclusively streams on Alibaba Group's (9988.HK) platform. The company reported net revenue of 247.7 billion yuan ($34.19 billion) for the third quarter, missing analysts' average estimate of 249.26 billion yuan according to LSEG data. But it posted net income attributable to shareholders of 7.94 billion yuan, up 33% from 5.96 billion yuan a year earlier.

Persons: Aly, JD.com, Xu Ran, Austin Li, Alibaba's Tmall, Arsheeya Bajwa, Akash Sriram, Sophie Yu, Varun, Kim Coghill Organizations: CES, REUTERS, JD Retail, HK, Citi, Daiwa, Jefferies, PDD Holdings, Thomson Locations: Asia, Shanghai, China, Bengaluru, Beijing

☆ Here are Wednesday's biggest analyst calls: Nvidia, Netflix, Apple, Disney, Affirm, Dollar Tree, DraftKings & more
▼ + stars: | 2023-11-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

UBS reiterates Apple as neutral UBS said its survey checks show wait times for Apple's iPhone Pro have subsided. Wells Fargo initiates Matador Energy as overweight Wells said the energy company has a "strong track record of growth." Citi upgrades Vipshop to buy from neutral Citi upgraded the e-commerce company after its earnings report. Bank of America upgrades American Eagle to neutral from underperform Bank of America upgraded the stock ahead of earnings next week. Morgan Stanley reiterates DraftKings as overweight Morgan Stanley said it sees more upside for the stock after its investor day. "

Persons: Holley, Jefferies, Wells, Morgan Stanley downgrades Energizer, Morgan Stanley, Bracken Darrell, Matt Puckett, Investor Relations Allegra Perry, Redburn, RTX, Mizuho, AFRM, Cantor Fitzgerald downgrades, Myers, Cantor, We've, it's, DraftKings Organizations: Jefferies, UBS, Apple, Matador Energy, Citi, Bank of America, underperform Bank of America, Barclays, American, Bears, Netflix, Netflix Inc, Air Corp, Vertiv Holdings Co, Wells Fargo, Warner Music Group, JPMorgan, Corp, Investor Relations, Brands Conference, Raytheon, Canadian, TAM, Deutsche Bank, Disney, Deutsche, Nvidia, Partners Locations: China, Europe, Japan, AXP, Paris, CSIQ, Bristol, F4Q

☆ Delivery Hero slightly lifts annual GMV outlook
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

[1/2] Andreas Harte, a Foodora delivery cyclist poses in front of Delivery Hero headquarters in Berlin, Germany, June 2, 2017. Foodora is part of the Berlin-based company Delivery Hero, one of Europe's largest internet start-ups. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsNov 14 (Reuters) - German online takeaway food company Delivery Hero (DHER.DE) slightly raised its full-year outlook on Tuesday after reporting a better-than-expected gross merchandise value (GMV) for the third quarter. The Berlin-based company now sees 2023 GMV growth at the upper end of its previous forecast range of 5-7% in constant currency terms. Delivery Hero, which reports earnings numbers only on a half-year and annual basis, said its key Asia-Pacific business reached a positive adjusted EBITDA before group costs in the month of October.

Persons: Andreas Harte, Foodora, Fabrizio Bensch, Emmanuel Thomassin, Ozan Ergenay, Michal Aleksandrowicz, Milla Nissi Organizations: REUTERS, Thomson Locations: Berlin, Germany, Frankfurt, Asia, Pacific, Gdansk

☆ China’s Singles Day shows buyers’ commitment issue
▼ + stars: | 2023-11-13 | by ( Chan Ka Sing | ) www.reuters.com time to read: +3 min

The Alibaba Group logo is seen during the company's 11.11 Singles' Day global shopping festival at their headquarters in Hangzhou, Zhejiang province, China, November 11, 2020. The Singles Day sales period ended up with anemic growth in transactions, despite steep discounts by retailers. Alibaba (9988.HK), , the e-commerce giant behind Singles Day, used to hold a lavish gala in Shanghai to celebrate the consumption extravaganza. And China’s State Post Bureau said on Sunday that express delivery volume hit a record high during the Singles Day period, rising more than 23% between November 1 and November 11, compared to the previous year. Beijing may hope Chinese shoppers are more fatigued by the Singles Day’s barrage of promotions than consumption itself.

Persons: Aly, Xi, Taylor Swift, Alibaba, It’s, JD.com, Goldman Sachs, Francesco Guerrera, Thomas Shum Organizations: REUTERS, Reuters, HK, Post Bureau, Reuters Graphics Reuters, Thomson Locations: Hangzhou, Zhejiang province, China, HONG KONG, Shanghai, Beijing

☆ Xiaomi claims a record $3.11 billion in Singles Day sales
▼ + stars: | 2023-11-13 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

(Photo by Costfoto/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty ImagesBEIJING — Chinese smartphone and consumer electronics company Xiaomi claimed record sales across platforms during the Singles Day shopping festival. For a second-straight year, the two online shopping giants declined to share total figures for the Singles Day shopping festival. That's the same figure JD shared for Singles Day results in 2021. The company also claimed first place in different categories of Chinese brands' smartphone sales across other online shopping platforms. In 2022, during the Covid-19 pandemic, Alibaba had said its Singles Day sales were "in line" with the prior year, which had recorded the equivalent of $84.54 billion GMV at the time.

Persons: Xiaomi, JD.com, JD, Alibaba, Tmall Organizations: Getty, Nurphoto, Apple, HSBC, Bain and Company Locations: YICHANG, CHINA, Yichang, Hubei province, China, BEIJING, Hong Kong, Alibaba, 2023e, 2024e

NEW YORK, Nov 9 (Reuters) - Shares of Affirm Holdings (AFRM.O) surged by nearly 25% on Thursday as strong demand for the buy-now-pay-later (BNPL) lender's services and higher interest rates underpinned quarterly results that beat analysts' estimates. Affirm's gross merchandise value (GMV) rose 28% to $5.6 billion, which allowed net revenue to jump 37% to $496.5 million for the quarter ended Sept 30. The company's net loss narrowed to $171.8 million, down nearly 32% from a loss of $251.3 million a year earlier. Analysts had expected gross merchandise value of $5.4 billion, net revenue of $448.5 million, and a net loss of $219.6 million, according to LSEG data. Affirm said it expects GMV to reach between $6.7 billion and $6.9 billion in the current quarter, and net revenue to come in between $495 million and $520 million.

Persons: Max Levchin, John Hecht, Chibuike Oguh, Bill Berkrot Organizations: Holdings, Analysts, Wedbush, Bank of America Global Research, UBS, Jefferies, Amazon.com, Amazon Business, Thomson Locations: New York

☆ China's biggest shopping festival is set for a tepid 2023, survey finds
▼ + stars: | 2023-11-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — Most consumers in China are planning to keep a lid on spending during this year's Singles Day shopping festival, which ends Nov. 11. That's according to a survey of more than 3,000 consumers in the country by Bain and Company, released Tuesday. Originally launched by Chinese e-commerce giant Alibaba , Singles Day has expanded from a one-day shopping festival into a multi-week period of shopping promotions across different online platforms in China. Bain estimates that including other platforms, Singles Day e-commerce GMV rose by 3% to 934 billion yuan ($128.25 billion) in 2022. When factoring in another 181 billion yuan in livestreaming and content-led e-commerce, the total GMV for last year's festival topped 1 trillion yuan ($140 billion), the report said.

Persons: Bain, —, James Yang, Yang, Livestreaming Organizations: Nurphoto, Getty, Bain and Company, Bain, Adobe Analytics Locations: Lianyungang, East China's Jiangsu Province, BEIJING, China, Chinese

☆ Shopify shares surge 20% on earnings beat, rosy guidance
▼ + stars: | 2023-11-02 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Gross merchandise volume, or the total volume of merchandise sold on the platform, rose 22% to $56.2 billion during the quarter. The solid earnings beat comes after Shopify, which makes tools for companies to sell products online, has sharpened its focus on costs. The sale included Deliverr, the last-mile delivery company Shopify acquired for $2.1 billion last May. During the quarter, Shopify announced a partnership with Amazon that allows its merchants fast and free Prime delivery on their storefronts off Amazon. Shopify also invested in online marketplace Faire as part of a deal that will make it the recommended wholesale platform for Shopify merchants.

Persons: Shopify, Gross, FactSet, Jeff Hoffmeister Organizations: Amazon

[1/2] The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. Shein's lawsuit against Temu, filed last December in the U.S. District Court for the Northern District of Illinois, alleged that Temu told social media influencers to make disparaging remarks about the fast-fashion retailer, and tricked customers into downloading the Temu app using "imposter" social media accounts. In July, Temu filed its own lawsuit in Boston federal court, accusing Shein of violating U.S. antitrust law in its dealings with clothing manufacturers. Temu's complaint alleged Shein "forces manufacturers to sign loyalty oaths certifying that they will not do business with Temu." Temu, whose parent company PDD Holdings also owns Chinese shopping platform Pinduoduo, similarly sells low-priced clothing but is equally well known for stocking cheap headphones and home appliances.

Persons: Florence Lo, Shein, Temu, Casey Hall, Christian Schmollinger Organizations: PDD Holdings, REUTERS, Rights, Northern, Northern District of, Temu, HSBC, Thomson Locations: U.S, Chicago, Boston, Northern District, Northern District of Illinois, China, Europe, Asia

☆ How options traders are setting up for the major tech earnings this week
▼ + stars: | 2023-10-23 | by ( Michael Khouw | ) www.cnbc.com time to read: +15 min

Big Tech earnings This week is less about reading between the lines/through results, and contextualizing management comments, but rather it's about the market itself. AI - AI - AI! The options market is implying an earnings related move of 4.7%. Our options market sentiment score for GOOG/GOOGL is 80th percentile - which one may think of like a score/grade, so a B- in terms of options sentiment. Call open interest is 15% higher than put open interest, our options market sentiment score is 83% so B/B- territory.

Persons: ChatGPT, Bing, it's, AMZN, Mark Zuckerberg's, Zuckerberg, one's Organizations: Cambridge, JPMorgan Chase, Citigroup, Bank of America, BlackRock, Goldman, Equity, Big Tech, Microsoft, Apple, Nvidia, Inc, Investors, YouTube, Amazon, Google, Gaming, Activision, Logistics, Federal Express, CNBC, ExxonMobil, Chevron, Visa, Mastercard, Merck, Co Locations: financials, Wells Fargo

☆ China's Singles Day sales festival wraps up with e-commerce giants reporting sales growth
▼ + stars: | 2023-10-21 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +3 min

SHANGHAI, Nov 12 (Reuters) - Alibaba Group (9988.HK) reported that its Chinese e-commerce platforms Tmall and Taobao recorded "positive" year-on-year growth over this year's Singles Day sales period, which wrapped up at midnight on Saturday. Meanwhile competitor JD.com (9618.HK) said its festival GMV (gross merchandising volume) hit a "record high" over the sales period. A Bain and Company report released last week found that 77% of the 3,000 consumers it surveyed had planned to spend less or the same on Singles Day compared with last year. Though several consultancies were predicting Singles Day GMV growth across platforms would reach anywhere from 14% to 18% - returning to double-digit growth for the first time since the pandemic - the final sales picture will take longer to energe. Colour cosmetics, traditionally a strong performer throughout the Singles Day sales period, were expected to struggle this year as make-up demand remains low almost a year after China lifted strict COVID-19 restrictions.

Persons: Taobao, JD.com, Alibaba, Bain, Casey Hall, Simon Cameron, Moore Organizations: Alibaba, HK, PDD Holdings, Company, Nike, Thomson Locations: SHANGHAI, China

☆ Leaked TikTok campaign brief for Black Friday shows it plans to pump live shopping and reward sellers up to $1,500
▼ + stars: | 2023-10-09 | by ( Dan Whateley | Madeline Stone | ) www.businessinsider.com time to read: +4 min

One source familiar with TikTok Shop's strategy said the company typically recommends at least two hours for a successful shopping stream. A TikTok Shop exec in the UK told Insider in May that the company expects its e-commerce business to shift toward live shopping over time. The 100 top performing videos in each category will earn sellers some amount of credits to promote their shoppable content in-app. The top five posts in terms of order quantity will earn sellers $200 in promote coupons, for example. Similar offerings are available for sellers during TikTok Shop's Black Friday and Cyber Monday push.

Persons: TikTok, Sellers, it's, influencers, Etsy Organizations: TikTok, UK, Insider, Bloomberg, Black Locations: China

☆ 'Relentless pursuit of eyeballs': Analysts name China internet stocks to buy, give 2 over 50% upside
▼ + stars: | 2023-09-21 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Several stocks are set to benefit from the "relentless pursuit of eyeballs" in the Chinese internet sector, according to analysts at asset management firm AllianceBernstein. Mini programs are apps within WeChat and have functions in areas such as e-commerce, task management, coupons, and so on. Tech giant Alibaba was given a price target of $100, representing a 14.9% upside from its Sept. 18 close. Kuaishou and Bilibili were given target prices of HK$70 and $16, representing 10.9% and 17.0% upside, respectively. Outlook The analysts said the expansion of channels for spending could lead to accelerating growth in e-commerce penetration, though the extent of upside is "debatable."

Persons: Robin Zhu, Ronald Ma, Xuan Ji, Xiaohongshu, AllianceBernstein, PDD, JD, — CNBC's Michael Bloom Organizations: Douyin, JD, Hong Kong, HK, Tech Locations: China, Pinduoduo

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