Citi shares popped after Berkshire Hathaway announced it had acquired 55 million shares of the company, the FDA approved Pfizer's COVID booster for ages 5-11, and JD.com topped Q1 sales estimates despite China lockdowns.
Shares of Alibaba Group Holding (NYSE: BABA) were running 7% higher at 10:32 a.m. ET Tuesday after J.P. Morgan upgraded the Chinese online retailer. The new rating on the shares comes just weeks after the investment bank had deemed Chinese technology stocks such as Alibaba, JD.com, and Tencent Holdings "uninvestable" for the next six to 12 months. The negative view had come amid a mounting crackdown by Beijing that also threatened them with delisting.
Alibaba (BABA) closed the most recent trading day at $86.48, moving -1.72% from the previous trading session.