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Alibaba has reshuffled the leadership at Lazada, its e-commerce firm in Southeast Asia, after CEO Lucy Peng -- an original Alibaba co-founder -- stepped down to be replaced by Lazada executive president Pierre Poignant. Alibaba owns more than 90 percent of Lazada but it has been involved in the business since April 2016 when it bought 51 percent of Lazada for $1 billion from Rocket Internet.
While Washington and Beijing battle over trade, a worrisome cross-border financial link has escaped scrutiny: Americans now collectively own most of the public equity of China’s biggest tech companies, including Alibaba, Baidu and Weibo. China’s tech darlings began tapping U.S. investors in the early 2000s, when mainland capital markets were unsophisticated and strict profitability requirements shut out most fast-growing tech firms. Dozens of Chinese unicorns and near-unicorns went to New York to raise capital from Americans eager for exposure to China’s explosive growth.
Adobe Systems Inc. on Thursday raised revenue targets for 2019, saying it now expects to deliver about $11.15 billion in revenue and its high-margin digital-media business to add about $1.45 billion of recurring revenue. Adobe’s upgraded forecast implies a revenue growth rate of about 23%, compared with its forecast in October of 20% growth. The company’s digital-media business, which accounts for most of its subscription revenue, had been expected to add about $1.4 billion in recurring revenue.
NIKE's (NKE) earnings and sales are likely to benefit from robust innovation efforts as well as strength in international business and the global NIKE Direct business.
Jim Cramer breaks down Tencent Music's initial public offering and and says context is the biggest deterrent to buying shares.
In the latest trading session, United Technologies (UTX) closed at $119.25, marking a -0.34% move from the previous day.
Jim Cramer speaks with Adobe Chairman and CEO Shantanu Narayen about his company's recent acquisitions after earnings.
Adobe (ADBE) delivered earnings and revenue surprises of -2.66% and 1.64%, respectively, for the quarter ended November 2018. Do the numbers hold clues to what lies ahead for the stock?