U.S. stock market update: Alibaba's net profit fell short of expectations, down 8.23%, Citigroup lowers target price
Price Alert·- Alibaba fell 8.23 % after reporting a first-quarter adjusted net profit of 20.72 billion yuan, which missed market estimates due to increased AI investments. - Wall Street stocks declined broadly, with Amazon dropping over 2 % amid retail sector weakness sparked by Walmart, despite Amazon expanding its Prime Air service. - Latin American Business Services rose 0.58 % driven by strong profitability and macroeconomic resilience, while Pinduoduo and Sea experienced varied market movements amid industry challenges.U.S. stock market midday update: Futu pre-market up over 10%: Q2 revenue and net profit both increased, investment bank market share consolidated
Price Alert·- Futuro Holdings reported a Q 2 revenue of 7.2 billion HKD and net profit of 3.6419 billion HKD, while Robinhood launched its public mainnet for tokenized assets. - Goldman Sachs increased its stake in InnoLight to 10.57 % and acquired Neos Investments for 2.25 billion USD. - Morgan Stanley participated in Anthropic 's IPO underwriting group, and Charles Schwab expanded its technology center in India.U.S. stock night market fluctuations: Alibaba fell 3.59% in night trading: earnings missed expectations + U.S. Treasury rebound, heavy asset investments dragged down stock price
Price Alert·- During US after-hours trading, Alibaba shares dropped 3.59% due to weaker-than-expected earnings, a 75% surge in capital expenditures, and rising US Treasury yields. - Amazon shares rose 0.31% driven by the expansion of Prime Air and strong AWS revenue growth, which reached 422.3 billion USD with a 36.7% year-on-year increase. - JD.com fell 0.44% amid market concerns over EU regulatory scrutiny regarding its acquisition of Ceconomy, despite announcing a major robot strategy investment.China’s former richest man Zhong Shanshan slams e-commerce platforms for stifling physical retail, worsening price wars
vnexpress·- Nongfu Spring founder Zhong Shanshan criticized e-commerce platforms for acting as dominant middlemen, stifling physical retail, and fueling damaging price wars through algorithmic control. - His remarks sparked a debate, with supporters echoing concerns over platform dominance and merchants' heavy reliance on discounts, while critics argued he overlooked e-commerce efficiencies and weak demand. - Zhong, ranked second in China with a net worth of $60.9 billion, has repeatedly warned that algorithm-driven pricing and internet price wars undermine product quality and the broader economy.