Michael Burry of ‘The Big Short' increases Alibaba stake, halves stock portfolio
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- Wall St tumbles on tech selloff as concerns about hawkish Fed, AI spending mount
- Chip stocks plunge, but bargain-hunters stem losses in other tech names
- Oil drops $1 as investors focus on Hormuz flows after peace talks
- South Korea leveraged ETF crisis sparks global chip selloff
- Trump announces nuclear deal with Iran, lifts Hormuz blockade
- Exclusive-China robot-hand-building unicorn Linkerbot targets $6 billion valuation
- Spain's ex-transport minister sentenced to 24 years for corruption
- China, US, UAE police arrest 276 telecom fraud suspects in Dubai
- Li Auto Inc. (LI) Breaks Ground on Chips R&D and Production Base
- 'Equal and opposite': BTIG's Krinsky sees sharp reversal ahead for chip stocks
BofA Securities Reiterates Buy Rating on Block Inc. (SQ)
August 16, 2024 2:55 PM EDTBofA Securities analyst Jason Kupferberg reiterated a Buy rating and $82.00 price target on Block Inc. (NYSE: SQ).
The analyst comments "Yesterday, we hosted a well-attended virtual investor meeting with SQ's IR team. Overall, we conclude that SQ has become re-focused on improving day-to-day... More
JPMorgan Upgrades JD.com, Inc (JD) to Overweight, 'Too cheap to ignore'
August 16, 2024 8:40 AM EDTJPMorgan analyst Andre Chang upgraded JD.com, Inc (NASDAQ: JD) from Neutral to Overweight with a price target of $36.00 (from $33.00).
The analyst comments "We believe JDs strategy adjustment and valuation have reached an inflection point for the stock to outperform in the next 6-12 months, leading us to upgrade it to OW with a new Jun-25 PT of US$36 on 8x 2025E P/E, suggesting 30%+ potential upside. Upside catalysts will... More
JD.com, Inc (JD) PT Lowered to $32 at Bernstein SocGen Group
August 16, 2024 6:00 AM EDTBernstein SocGen Group analyst Robin Zhu lowered the price target on JD.com, Inc (NASDAQ: JD) to $32.00 (from $35.00) while maintaining a Market Perform rating.
The analyst comments "Q2 core profits a small beat. JDs Q2 results showed revenue (RMB291bn, +1.2% year on... More
Alibaba (BABA) PT Raised to $85 at Bernstein SocGen Group
August 16, 2024 6:00 AM EDTBernstein SocGen Group analyst Robin Zhu raised the price target on Alibaba (NYSE: BABA) to $85.00 (from $80.00) while maintaining a Market Perform rating.
The analyst comments "Q1 a mixed bag. Alibaba group revenue of RMB243bn missed consensus by 2.6% (RMB250bn), although gross... More
JD.com, Inc (JD) PT Raised to $43 at Jefferies
August 15, 2024 4:01 PM EDTJefferies analyst Thomas Chong raised the price target on JD.com, Inc (NASDAQ: JD) to $43.00 (from $41.00) while maintaining a Buy rating.
The analyst comments "JD reported 2Q results with revenue coming inline and non-GAAP earnings exceeding expectations. During conference call, management highlighted solid... More
Citi Reiterates Buy Rating on Alibaba (BABA) Following Earnings
August 15, 2024 7:37 AM EDTCiti analyst Alicia Yap reiterated a Buy rating and $122.00 price target on Alibaba (NYSE: BABA).
The analyst comments "Ali reported mixed FY1Q25 result with total revs of Rmb243.2bn, +4% y/y, 2.7% below our estimate of Rmb250.0bn and 2.6% below... More
Citi Reiterates Buy Rating on JD.com, Inc (JD)
August 15, 2024 7:06 AM EDTCiti analyst Alicia Yap reiterated a Buy rating and $42.00 price target on JD.com, Inc (NASDAQ: JD).
The analyst comments "2Q24 total revenues of Rmb291.4bn, +1.2% yoy, slightly beat our/consensus estimates of Rmb290.3bn/Rmb290.5bn by 0.4%/0.3%. Non-GAAP NP reached Rmb14.5bn (5.0%... More
