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Fly News Breaks for February 10, 2020
TCOM, BIDU, BABA, TME, TCEHY
Feb 10, 2020 | 07:35 EDT
Oppenheimer analyst Jason Helfstein expects the novel Coronavirus to have a negative impact on the overall Chinese economy, especially transportation, lodging, catering, and offline retail, potentially slowing China's GDP growth by 100bps-200bps in Q1. However, based on the SARS impact in 2003, the analyst believes that economic growth will rebound rapidly, after the nCoV outbreak is contained. He also expects a negative impact on e-commerce and online advertising and travel, as key industry participants cannot resume full operations. Nonetheless, the outbreak could potentially benefit some Internet sectors including online games, online video, online music, social media, live streaming, and public cloud, as people spend more time online. Given these impacts, Helfstein sees Tencent (TCEHY) and Tencent Music (TME) as more resilient near-term, and is more cautious on Alibaba (BABA), Baidu (BIDU), and Trip.com Group (TCOM) near-term.
News For TCEHY;TME;BABA;BIDU;TCOM From the Last 2 Days
BABA
Oct 19, 2020 | 09:02 EDT
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump and his administration with this weekly recap compiled by The Fly: 1. NY POST STORY... To see the rest of the story go to thefly.com. See Story Here
BABA
Oct 18, 2020 | 20:08 EDT
Alibaba announced it will invest approximately $3.6B in respect of Sun Art Retail Group that will raise its aggregate direct and indirect stake to approximately 72%. As part of the transaction, Alibaba will acquire 70.94% of equity interest in A-RT Retail Holdings from Auchan Retail and its subsidiary valued at approximately $3.6B. A-RT holds approximately 51% of the equity interest in Sun Art. Following the transaction, Alibaba will consolidate Sun Art in its financial statements. Additionally, Peter Huang has been appointed Chairman of Sun Art in addition to his current role as Chief Executive Officer.
TCEHY
Oct 18, 2020 | 09:01 EDT
Shares of Oaktree-backed (OAK) Array Technologies jumped as much as 50% in their trading debut after the company's expanded initial public offering raised $1. 05B... To see the rest of the story go to thefly.com. See Story Here