Alibaba Sharply Higher

Alibaba Group Holding Ltd BABA shares are trading higher by $2.36 at $77.81 in Tuesday's session. The catalyst for the rally is the announcement that the company expects revenue growth of 48 percent in 2017.

After a higher open, it retreated only $0.14 to $76.75 before continuing its move higher. So far, it has reached $78.45 before falling back under $78. The current high coincides with a pair of highs from June 7 ($78.37) and June 8 ($78.53).