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Alibaba stock trades lower on Morgan Stanley downgrade

12/02/2023 04:06
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Alibaba stock trades lower on Morgan Stanley downgrade

Shares of Alibaba (BABA) began to slide on Friday after Morgan Stanley analyst Eddy Wang gave the company a downgrade from 'Overweight' to 'Equal weight,' cutting the target price from $110 to $90. The downgrade comes from doubts over the company's performance in its key businesses and the rise of Pinduoduo (PDD). Yahoo Finance Anchors Josh Lipton and Julie Hyman break down the latest development for the company and what it could mean going forward. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

  • Reuters

    Walmart says it is not advertising on social platform X

    (Reuters) -Walmart said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. "We aren't advertising on X as we've found other platforms to better reach our customers," a Walmart spokesperson said. The platform has struggled to retain advertisers since Musk acquired the company in October 2022, and faced a fresh exodus in recent weeks over rising concern about antisemitic content.

  • Barrons.com

    7% Dividend Yields or Higher: The S&P 500’s 6 Best Payouts

    There’s still plenty of yield in the stock market even with the recent rally that has resulted in a 19% year-to-date gain in the this year. Plenty of stocks have been left behind and many carry outsize yields of 6% or more—including a total of about 40 in the S&P 500 and S&P MidCap 400 indexes, according to data from S&P Dow Jones Indices. For Boston Properties and Healthpeak Properties, we are using funds from operations, a cash-flow measure used by real estate investment trusts, rather than earnings per share, which is lower for both companies.

  • SmartAsset

    We're 67 Years Old With $1 Million in IRAs. Is It Too Late to Convert to a Roth?

    At 67, you’re presumably at or near retirement. If you have $1 million in IRAs, it may be attractive to converting to a Roth because it can provide tax-free income in retirement. It's not too late from legal or regulatory perspectives. The IRS does not restrict Roth conversions on the basis of age or income. […] The post We’re 67 Years Old With $1 Million in IRAs. Is It Too Late to Convert to a Roth? appeared first on SmartReads by SmartAsset.

  • Benzinga

    How To Earn $500 Per Month From Verizon (NYSE: VZ) Stock

    After a favorable trading session on Nov. 28, American telecom giant Verizon Communications Inc. (NYSE:VZ) closed at $37.50 with a market cap of $157.65 billion. The 52-week range of Verizon's stock price was $30.135 to $44.73. Verizon's dividend yield is 7.24%. It paid $8.2 billion in dividends during the nine months from January to September — $100 million higher than the same period last year, according to the company's 10-Q filing on Oct. 26, Investment advisers Mairs & Power highlighted bul

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