Alibaba Group Holding Ltd - ADR BABA shares are trading lower by 2.80% to $85.41 going into the close of Friday's session. The stock is trading lower amid weakness in Chinese stocks, possibly due to concerns over China's economic recovery.
Shares gained on Thursday in sympathy with JD.Com Inc JD but have pulled back in Friday's session.
Additionally, our Benzinga team on Thursday noted China is faced with the monumental task of avoiding a hard-landing scenario due to a worrying demographic trend, a new and more short-term crisis begins to loom for the Asia giant.
China's 0.1% yearly inflation in April is substantially lower than the 0.7% registered in March, as Reuters reported...Read More
What Happened With JD.Com?
JD.Com reported quarterly earnings of 69 cents per share which beat the analyst consensus estimate of 50 cents.
The company reported quarterly sales of $35.38 billion which beat the analyst consensus estimate of $34.64 billion by 2.1%. This sales figure represents a 6.4% decrease over sales of $37.80 billion in the same period last year.
Meanwhile, JD.Com's net product revenue declined by 4.3% Y/Y to $28.5 billion. Net service revenues rose 34.5% Y/Y to $6.9 billion. JD Retail revenue declined by 2.4% Y/Y to $30.9 billion...Read More
According to data from Benzinga Pro, BABA has a 52-week high of $125.84 and a 52-week low of $58.01.
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