Here's your Investing Action Plan for Friday: what you need to know as an investor for the coming day. Chinese e-commerce giant Alibaba (BABA) and apparel maker VF Corp. (VFC) will report before the market opens, leading the notable earnings for the day. Highly anticipated tech IPO Carbon Black (CBLK) will also have its trading debut. But the Labor Department's April jobs report will set the tone for the market after the Federal Reserve backed its outlook that inflation is heading higher. Alibaba X Estimates: EPS to jump 40% to 88 cents, as revenue surges 63.7% to $9.175 billion, according to Zacks Investment Research. Stock: Shares were down 0.9% at 179.77 on the stock market today, hitting resistance at their 50-day line while in a base with a 206.30 entry point. Online spending trends in China are positive, with growth accelerating, according to a recent Baird Equity Research report. While Baird expects healthy e-commerce growth, it notes that the company is spending heavily on … [Read more...] about Alibaba, VF Corp., Carbon Black IPO, Jobs Report: Investing Action Plan
Ipo
Spotify misses on revenue in first earnings report since IPO
The record company had owned 5.7% of Spotify's stock, totalling 10,164,560 shares before Spotify's successful IPO at the start of April in which it gained a market valuation of $26.6 billion."Sony owned 5.707% of Spotify's shares (5.082% on a fully diluted basis) at the time of the public listing, approximately half of which have been sold to date", the filing reads. The exact price at which shares were sold was not revealed.Revenue: $1.14 billion. In the first quarter a year ago, Spotify posted $902 million in sales.Spotify announced today that it has 170 million active users, 75 million of which are paying for its premium subscription service.Dividing it among the artists and indies will be no simple task."Spotify has continued to generate cash from operations since 2016; although the firm has incurred hefty operating losses in recent years, Spotify's cash flow has been better as a good portion of these costs, which are accrued fees to rights holders, have not yet been paid out in … [Read more...] about Spotify misses on revenue in first earnings report since IPO
China’s Xiaomi files for mega Hong Kong tech IPO, lifts lid on…
BEIJING/HONG KONG (Reuters) - Smartphone and connected device maker Xiaomi [IPO-XMGP.HK] filed for a Hong Kong initial public offering on Thursday that could raise $10 billion and become the largest listing by a Chinese technology firm in almost four years. FILE PHOTO: The logo of Xiaomi is seen inside the company's office in Bengaluru, India January 18, 2018. Picture taken January 18, 2018. REUTERS/Abhishek N. Chinnappa/File photo Xiaomi’s IPO, which will be one of the first in Hong Kong under new rules to attract tech firm listings, is a major win for the bourse as competition heats up between Hong Kong, New York and the Chinese mainland. The listing is expected to raise about $10 billion via the public offering, giving Beijing-based Xiaomi a market value of between $80 billion and $100 billion, people familiar with the plans told Reuters. Those targets, if achieved, will make it the biggest Chinese tech IPO since Chinese internet giant Alibaba Group Holding Ltd … [Read more...] about China’s Xiaomi files for mega Hong Kong tech IPO, lifts lid on…
Chinese smartphone maker Xiaomi files for Hong Kong IPO
HONG KONG (AP) — Chinese smartphone maker Xiaomi filed documents Thursday with Hong Kong's stock exchange operator for an initial public offering that could be the world's biggest share sale in years.Beijing-based Xiaomi is the world's fourth biggest smartphone maker by shipment volume, according to International Data Corp.The listing documents provided no financial details about the share sale or the company's valuation. A date for the listing was not disclosed. The newspaper South China Morning Post cited unnamed banking sources saying Xiaomi plans to raise up to $10 billion in a deal that would value the company at $100 billion. × Advertisement That would make it the biggest IPO since Chinese e-commerce giant Alibaba's $21.8 billion IPO in 2014 on the New York Stock Exchange.Xiaomi, founded in 2010, has grown quickly on the strength of smartphone handsets priced as low as $115 and Internet-based marketing and distribution.The listing documents offered a glimpse of … [Read more...] about Chinese smartphone maker Xiaomi files for Hong Kong IPO
Xiaomi Picks Hong Kong for IPO; Seeks to Raise at Least $10 Billion
HONG KONG—Xiaomi Corp., one of China’s top smartphone makers, said it would launch its initial public offering in Hong Kong—bringing to the city what is expected to be the world’s biggest IPO this year. The Thursday exchange filing with Hong Kong’s stock exchange didn’t disclose details about the size of its planned offering or a projected valuation, but the company is seeking to raise at least $10 billion, which could value it at around $100 billion, according to people familiar with the matter.... … [Read more...] about Xiaomi Picks Hong Kong for IPO; Seeks to Raise at Least $10 Billion