Tag: E-Commerce Discretionary

Shares of Chinese tech giant Alibaba fell 3.5% on Monday, after the company said in a surprise move that outgoing CEO Daniel Zhang will also be stepping down as chairman and CEO of its cloud business.

A gloomy economic backdrop has weighed on Alibaba and other Chinese stocks, with grim factory data Thursday continuing the trend. But there is reason for hope, because the latest release wasn’t as bad as expected and there are other glimmers of resilience.

Alibaba launched on Friday two new artificial intelligence models — Qwen-VL and Qwen-VL-Chat — the company says can understand images and carry out more complex conversations.

Amazon.com Inc. has relaunched its Amazon Shipping delivery service after a pandemic-era pause, the company confirmed on Friday. The news, reported on earlier in the day by the Wall Street Journal, marks the return of a segment of the online retailer that went head-to-head with the likes of FedEx Corp. FDX, -0.85% and United Parcel Service Inc.

Shares of Farfetch were tumbling after the e-commerce company for luxury fashion posted mixed results and lowered its forecast of the value of orders processed.

Chinese e-commerce firm JD.com beat Wall Street estimates for second-quarter revenue on Wednesday, as its focus on lower-priced products to attract customers amid an economic slowdown paid off.

Technology firm Sea Ltd missed estimates for second-quarter revenue on Tuesday, as consumers held back spending on Internet and discretionary services, sending its U.S.-listed shares down 12% in trading before the bell.

TOKYO, Aug 14 (Reuters) – Rakuten Group (4755.T) shares surged on Monday morning after the e-commerce giant reported narrowing losses at its cash bleeding mobile unit last week alongside assurances that it can cover its debt burden for the next financial year.

China’s Alibaba Group Holding reported its strongest quarterly revenue growth in almost two years on Thursday, boosted by a mid-year shopping festival that attracted bargain hunting consumers amid a sober economic environment.

Alibaba ’s cloud unit is bringing Meta Platform’s open-source artificial intelligence model to its clients, in a significant moment for the global AI race.

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U.S.-listed Chinese stocks rose on Tuesday on hopes that authorities’ three-year crackdown on technology companies is coming to a close.

Alibaba’s Hong Kong-listed shares rose 3% Monday amid hopes that the yearslong scrutiny of its financial arm Ant Group is coming to an end.

Alibaba’s grocery unit Freshippo expanded its number of physical stores in China, the company said on Friday, as the business prepares to spin off from its parent company and go public.

The U.S. antitrust regulator is planning to file a suit targeting Amazon.com’s core online marketplace in the coming weeks, Bloomberg News reported on Thursday, citing documents and people familiar with the matter.

Shein, the fast-fashion e-commerce juggernaut, is poised to keep gobbling up market share in the U.S., according to UBS .

Alibaba Group said in a surprise announcement Tuesday Eddie Wu will succeed Daniel Zhang as its chief executive, a move that will free Zhang to focus on the company’s cloud intelligence business.

Alibaba on Thursday began rolling out its ChatGPT-style technology as Chinese tech giants look to take a lead in the country’s artificial intelligence race.

As famed money manager Michael Burry made headlines boosting bullish bets on stocks including Alibaba Group Holding Ltd. in the first quarter of this year, other top hedge funds were also piling in.

PDD Holdings Inc beat analysts’ estimates for first-quarter revenue on Friday as more price conscious customers turned to its discount e-commerce platforms including Pinduoduo.

Alibaba announced plans to spin off its cloud division as a separate, publicly-traded company, while the e-commerce titan’s quarterly revenues missed expectations.