Tag: E-Commerce Discretionary

China’s Alibaba Cloud on Monday said it will cut prices for products that are powered by its offshore data centers by as much as 59% amid rising competition to attract artificial intelligence software developers.

Chinese e-commerce company previously planned multiple spinoffs of business units in an attempt to unlock greater value for shareholders.

PDD posted a monster beat on Wednesday, reporting fourth-quarter earnings and revenue far above Wall Street’s expectations as the company behind budget online retailers Pinduoduo and Temu continued to impress.

Eli Lilly said Amazon Pharmacy will help deliver certain prescription drugs, including the popular weight loss treatment Zepbound, directly to patients’ homes through the drugmaker’s new direct-to-consumer website. 

Shares in JD.com surged Wednesday after the Chinese e-commerce company reported fourth-quarter earnings and sales ahead of expectations. There also was more for investors to be happy about.

Sea Ltd. shares advanced after the company reported a smaller-than-expected drop in quarterly earnings and predicted improving prospects for its e-commerce and gaming businesses.

Alibaba Cloud on Thursday said it is cutting prices across more than 100 core public cloud products to make cloud computing more accessible in the AI boom.

EBAY shares are gaining ground in late trading Tuesday after the online marketplace company posted fourth-quarter results that edged both guidance and Street estimates.

Latin American e-commerce giant MercadoLibre on Thursday reported a $165 million fourth-quarter net profit, as higher sales were offset by a tax hit, with results flat versus the year-ago period.

Amazon is set to join the Dow Jones Industrial Average, replacing Walgreens Boots Alliance effective next week, S&P Dow Jones Indices said on Tuesday.

Chinese e-commerce operator JD.com Inc. is the latest company to consider buying UK electronics retailer Currys Plc, as a path to toward new avenues for growth away from home.

Amazon com founder Jeff Bezos has sold $2 billion of the retail and cloud company’s stock, his first sale in more than two years.

Temu, the e-commerce app run by Chinese company PDD Holdings, plans to run a Super Bowl ad on Sunday, a spokesperson told CNBC, as it looks to continue growing rapidly in the United States.

Alibaba stock rose then fell on Wednesday after the Chinese tech giant narrowly missed Wall Street’s quarterly earnings expectations but announced that it was increasing its share buyback program.

Amazon trounced analysts’ expectations for fourth-quarter earnings and revenue.

Chinese internet giant Alibaba Group is looking to sell a number of consumer sector assets, including grocery business Freshippo and retailer RT-Mart, three sources with knowledge of the situation said.

Chinese stocks slumped on Monday after the country’s central bank left interest rates unchanged, a decision that does little to inspire confidence among investors worried about a slowdown in the world’s second-largest economy.

Amazon is laying off hundreds of employees at its studio division as well as its subsidiary Twitch to reduce costs, the latest in a wave of new job cuts hitting the tech industry.

Employees across all Southeast Asia markets from all levels are affected by the layoffs, according to the person who declined to be named due to the sensitive nature of the subject.

Chinese online retailer JD.com said on Friday that it won a lawsuit against rival Alibaba which was fined 1 billion yuan ($140.68 million) for monopolistic practices.