The Alibaba Group Holding Ltd. (NYSE: BABA) stock price today quickly climbed 0.8% to $91.41 around 10:00 a.m. The spike came after the company announced its film unit, Alibaba Pictures Group Ltd., will be raising an additional $1.57 billion.
According to The Wall Street Journal, Alibaba Pictures will be selling 4.2 billion new shares to raise the capital.
Stock futures today (Thursday, June 4) forecast an 83-point increase from Wednesday's close as bonds around the world fall to eight-month lows.
Yesterday the DJIA rose 67 points after investors cheered domestic economic data and the Federal Reserve affirmed the U.S. economy was growing at a "modest to moderate pace" in the second quarter. The Fed said that the economy expanded between April and May in the Beige Book, which surveys respondents on overall economic activity.
Here's everything you need to know about the stock market today...
Good morning! For May 14, 2015, U.S. stock futures forecasted a 30-point increase from Thursday's close as continued weakness in the dollar squeezes out even more from the markets' bull run.
The S&P 500 soared to a new high on Thursday and the DJIA Index rose 191 points on news that weekly jobless claims remained near a 15-year-low. A falling U.S. dollar fueled optimism about the possibility of stronger international sales for domestic-based companies.
The Alibaba stock price today is climbing 0.6%, after new CEO Daniel Zhang announced a new plan to globalize the Chinese e-commerce company.
This came as no surprise to us at Money Morning. We've been following the company's expansion closely, well before the IPO.
Alibaba Group Holding Ltd. (NYSE: BABA) stock opened up 11% today (Thursday) at $88.78 after a stellar earnings report.
Alibaba officials reported earnings per share (EPS) of $0.48 on revenue of $2.81 billion. Analysts had expected EPS of $0.42 and $2.77 billion in revenue. The revenue figure was 45% higher than last year.
Alibaba Group Holding Ltd. (NYSE: BABA) stock has fallen 25% in 2015. Today, it hit its lowest value to date at $77.77.
As the company prepares to announce quarterly and fiscal-year earnings on Thursday, May 7, now is one of the best times to buy Alibaba stock.
Money Morning experts are extremely bullish on BABA stock now. In fact, Money Morning's Defense and Tech Specialist Michael Robinson recently said Alibaba "could be the single-greatest wealth opportunity of our lifetime."
Here are the five biggest reasons to buy Alibaba stock now...
A group of 35 analysts surveyed by Thomson/First Call have an average price target of $106.9 for Alibaba Group Holding Ltd. (NYSE: BABA) stock. That represents a gain of almost 32% from today's opening price of $81.17.
But our Alibaba stock price prediction sees BABA climbing much higher than that in the long term.
The Alibaba earnings date is set for May 7, and the company is expected to report earnings per share (EPS) of $0.43 and revenue of $2.78 billion.
But with the Alibaba Group Holding Ltd. (NYSE: BABA) earnings date just around the corner, some investors are worrying the stock could continue to fall.
But according to Money Morning experts, Alibaba stock is one of the best long-term buys on the market despite the recent hiccups.
One of the key parts of a successful wealth-building strategy is finding the best long-term stocks and holding them for years.
Solid long-term stocks let you collect gains steadily for five, 10, or 20 years while you focus on finding other investments and opportunities. You can check in with them every quarter and see if anything has changed or adjust your holdings if your investment priorities are different. But for the most part, they are low maintenance, low risk, and high reward.
Now, we've picked three of the best long-term stocks on the market today. Each of these three stocks are leaders in their respective industries. They also have solid balance sheets and growth projections.
One just saw its revenue jump 40% in the most recent quarter. Another has annual revenue of $226 billion with gross profit margins near 40%. The third expects its industry to fill $5.2 trillion worth of orders in the next two decades.
With the expiration of a lockup period 340 million shares of Alibaba stock are now free to sell for Alibaba's institutional holders.
And while investors feared that this lockup expiration would prompt massive sell-off of a stock already down nearly 20% this year, Alibaba stock is actually up today (Wednesday).
Here's why the end of the lockup isn't killing Alibaba right now...
One our best stocks to invest in this week is a play on China's booming e-commerce.
This time it's not Alibaba Group Holding Ltd. (NYSE: BABA) stock. China's No. 2 in e-commerce is giving Alibaba stock a run for its money.
This stock is up more than 20% this year and has the potential to go much higher...
The Chinese stock market has performed relatively well this year. But it's rushing headlong into an outpouring of China bears souring on the country's growth.
A number of other indicators - weak factory production, slowing car sales - have international investors questioning whether the so-called "Chinese Economic Miracle" is losing steam.
It hasn't, and Western analysts currently have these three stock picks wrong...
Alibaba Group Holding Ltd. (NYSE: BABA) stock has sold off in 2015, dipping nearly 21% through March 9. On Monday, shares closed at $82.35.
But this is not a time to sell Alibaba stock. In fact, this is the best opportunity for buying BABA stock since the September IPO.
"Most investors are right now looking at the steep skid in Alibaba as a major cause for concern. But I only see opportunity," Money Morning's Executive Editor Bill Patalon told his Private Briefing readers. "I see an opportunity for you to create the kind of wealth that you'll be able to pass along to future generations."
The Alibaba Group Holding Ltd. (NYSE: BABA) stock price hit its lowest level since its IPO this week when shares fell to $80.03 Tuesday afternoon.
That's 14.8% from Alibaba's first-day closing price of $93.89. It's 33.3% from BABA's high of $120 hit on Nov. 10.
Alibaba Group Holding Ltd. just picked up a major catalyst for the BABA stock price - despite the market's muted reaction to the news...
The BABA stock price was up 1% this morning (Tuesday), one day after (NYSE: BABA) invested $590 million in Chinese smartphone-maker Meizu.
As Money Morning experts have been telling readers for months, the mobile market will be the biggest catalyst for the Alibaba stock price.
And this week's deal highlights how...
