Summit Research Maintains Buy on Alibaba (BABA) Despite Challenging Environment

Market Wrap: Markets Tumble on Continued China Fears; Google Debuts New Look; U.S. August Auto Sales Outpace

September 1, 2015 5:20 PM EDT

Market wrap for September 1st

End of the Day: S&P 500 down 58.3 to 1,913.85; Dow Jones down 469.7 to 16,858.35; Nasdaq down 140.4 to 4,636.10

Market Brief: Markets moved lower Tuesday following data showing China's PMI fell from 50.0 in July to 49.7 last month. The metric was the lowest reading since August 2012 and a number below 50. indicates contraction.

The ISM Manufacturing index slipped to 51.1 percent in August, missing expectations.

U.S. light-vehicle sales outpaced in August.

McDonald's is going to start offering breakfast all day. You read that... More

Alibaba (BABA) Announces Opening of Robert Mondavi Wines on Tmall

September 1, 2015 6:03 AM EDT

Alibaba (NYSE: BABA) announced the opening of the Robert Mondavi Wines exclusive flagship store on Tmall.com, to officially kick off its newly launched Tmall Vineyard Direct program on its Tmall.com marketplace, Chinas largest third-party platform for brands and retailers.

Robert Mondavi, one of the most historic and esteemed wine brands in California, has chosen Tmall.com as the first and only online destination to reach hundreds of millions of... More

Yahoo CEO Marissa Mayer expecting twin girls in December

September 1, 2015 2:00 AM EDT

(Reuters) - Yahoo Inc (NASDAQ: YHOO) Chief Executive Marissa Mayer said she was pregnant with identical twin girls, likely due in December, but promised she would take limited time away as she works toward turning around the company's struggling online ad business.

Yahoo is also preparing to spin off its stake in Chinese e-commerce giant Alibaba Group Holding Ltd (NYSE: BABA) and is considering the future of its holding in Yahoo Japan Corp .

Yahoo shares fell 1.5 percent at $31.77 in morning trading amid a selloff... More

Internet entrepreneurs back Chinese Tesla rival NextEV

August 31, 2015 2:37 PM EDT

By Edward Taylor and Paul Lienert

FRANKFURT/DETROIT (Reuters) - A group of deep-pocketed China-based internet entrepreneurs and financial investors, including Tencent  and Hillhouse Capital, is backing an effort to create NextEV, a new rival to U.S. electric car maker Tesla Motors Inc (NASDAQ: TSLA).

Hillhouse is also an investor in Uber, the U.S. ride sharing service.The backers have hired ex-Ford Motor Co (NYSE: F) executive Martin Leach to build a global automaker, a NextEV spokeswoman said on Monday. The backers have... More