Morning Beat: Alibaba Group Holding Ltd (BABA), Nokia Corporation (ADR) (NOK), And Microsoft Corporation (MSFT)
It was a mixed day for markets across the world except China’s Shanghai which was up by 4.9% on stimulus policy speculation. Bad numbers on Trade balance report and decline in the producer price index gave rise to speculation of stimulus package. Europe is currently trading mixed with the FTSE 100 trading down while CAC 40 is trading up.
Alibaba Group Holding Ltd (NYSE:BABA) announced it would invest $4.63 billion in Chinese electronics retailer Suning Commerce Group. Through this investment both companies plan to integrate their online and offline retail. This is the second investment from Alibaba Group Holding Ltd (NYSE:BABA) in commerce company after it invested in India’s e-commerce player Snapdeal.
Nokia Corporation (ADR) (NYSE:NOK) has made its intentions clear of coming back to mobile business once its non-compete agreement with Microsoft Corporation (NASDAQ:MSFT) ends in 2016. Nokia Corporation (ADR) (NYSE:NOK) has started hiring software experts and is looking for sales partners, According to Reuters.
In an interview with Wall street week Olstein Capital Management’s Chairman and Investment officer Robert Olstein said that General Motors Company (NYSE:GM) and Dillard’s, Inc. (NYSE:DDS) both are undervalued. According to Olstein, the automobile company provides opportunity because the company’s balance sheet has improved and Dillard’s, Inc. (NYSE:DDS) is trading at a discount.
In an interview to Barron, Commodity strategist Roland Morris made a case for Energy, Oil and Gold stocks. Oil has fallen by 55% in the past one year while Gold is off by 43% from its 2011 high of $1900. He went on to say that oil majors like Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), and Royal Dutch Shell plc (ADR) (NYSE:RDS.A) are trading at multi-year lows and provide a good opportunity to start accumulating for long term.
Microsoft Corporation (NASDAQ:MSFT) and Blackberry Ltd (NASDAQ:BBRY) have something to ponder upon after Cyanogen claimed that it has more users than Windows mobile and Blackberry combined. The revelation was made at Seattle Code Rush developer conference which took place over the weekend.
Latest posts by Viraj Shah (see all)
- Tesla Motors Inc (NASDAQ:TSLA)’s Elon Musk Is Going After Semi Truck Industry - November 17, 2017 04:37 AM PDT
- Tesla Motors Inc (NASDAQ:TSLA) Is Not “Hotbed for Racist Behavior” - November 15, 2017 06:58 AM PDT
- Nikola Tesla and Tesla Motors Inc (TSLA) – The Past & Future of the World You Cannot Ignore- Part 1 - May 15, 2017 05:11 AM PDT