China’s Alibaba beats quarterly revenue estimates (up 7% yoy), profit drops primarily due to valuation changes from equity investments (reuters)
Alibaba sees most profitable year since 2021 amid a refocus on e-commerce, AI businesses and rising competition at home (scmp)
Alibaba sees AI traction. “During the quarter, our core public cloud offerings, which include products such as elastic compute, database and AI products, recorded double-digit year-over-year growth in revenue,” Alibaba said. Alibaba’s board of directors has approved a dividend consisting of two parts. This includes an annual cash dividend of $1.00 per ADS and a “one-time extraordinary cash dividend” of 66 cents per ADS. (marketwatch)
BofA Strategist Hartnett Warns Stock Rally Is Exposed to Stagflation Risk (bloomberg)
BofA’s Moynihan Talks US Economy, Lending and M&A (bloomberg)
BABA-SW (09988.HK) Expects to Finish Conversion to Dual Primary Listing in HK by End-Aug 2024 (aastocks)
Alphabet to spotlight AI innovations at developer conference (reuters)
The Fed Depends on Data but Numbers Are Getting Shakier. That’s a Problem. (barrons)
Berkshire Hathaway’s Mystery Stock Purchase Could Be Revealed on Wednesday (barrons)
On May. 08, 2024, James P. Gorman – Director of The Walt Disney Company (DIS) – purchased 20,000 shares of DIS at $106.03. His out of pocket cost was $2,120,628.