Sunday, 5 May 2024

Alibaba eyes mutli-billion dollar Hong Kong IPO despite raging protests

Your first trade for Wednesday, November 13

The "Fast Money" traders shared their first moves for the market open.

Karen Finerman was a buyer of Disney. 

Dan Nathan was a seller of the SPDR S&P Retail ETF.

Lori Calvasina was a buyer of small caps. 

Guy Adami was a buyer of PayPal. 

Disclosure

Trader disclosure: Dan is Long TLT Dec call spread. XLP Nov put spread. NKE Nov / Dec Call calendar. DIS Nov / Dec Call Calendar. AMZN Dec/Feb put spread. Guy Adami is long CELG, EXAS, GDX, INTC. Guy Adami's wife, Linda Snow, works at Merck. Karen Finerman's firm is long ANTM, C, CBS, CPRI, FB, FDX, FL, FNAC, GOOG, GOOGL, GLNG, GMLP, HD, JPM, LYV, REZI, RRGB, SPY puts, SPY put spreads, TBT, TGT, TIF, URI, WIFI. Her firm is short HYG, IWM, LQD. Her firm is short TGT calls. Karen Finerman is long AAL, AYR/CN BAC, BOT Bitcoin, Bitcoin Cash, Ethereum, C, CAT, CBS, CPRI, DAL, DVYE, DXJ, EEM, EPI, EWW, EWZ, DVYE, FB, FL, GM, GMLP, GLNG, GOOG, GOOGL, JPM, LOW, LYV, KFL, MA, MTW, REAL, REZI, SEDG, TACO, WIFI, WFM. Karen Finerman is long FB spread calls. Karen Finerman is long GOOG put spreads. Karen Finerman is long SPY puts. Bitcoin and Ethereum are in her kids' Trust. Lori Calvasina's disclosure is N/A.

Read the full text of George Kent’s opening statement in public impeachment hearing

WASHINGTON – State Department official George Kent appeared before the House Intelligence Committee on Wednesday in the first open hearing of the impeachment inquiry into allegations that President Donald Trump used the power of his office to pressure Ukraine into pursuing investigations into his political rivals. 

Kent is a deputy assistant secretary who oversees policy in a half-dozen former Soviet states, including Ukraine. 

“I have served proudly as a non-partisan career Foreign Service officer for more than 27 years, under five Presidents, three Republicans and two Democrats,” Kent said in the text of his opening statement ahead of the hearing. 

Kent spoke of the importance of battling corruption in Ukraine, but he added, “As a general principle, I do not believe the United States should ask other countries to engage in selective, politically associated investigations or prosecutions against opponents of those in power, because such selective actions undermine the rule of law regardless of the country.” 

Trump impeachment hearing begins: Democrat Schiff says ‘future of the presidency’ at stake

Read the full text of his opening statement here: 

A broken social care system for people with autism

On today’s podcast we discuss NHS data suggesting hundreds of people with a learning disability and/or autism are being held in mental health units in England even though they have been identified as no longer needing inpatient care.

:: Listen to the Daily podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker

Martha Stewart takes page from Trump’s playbook with branded real estate

Martha Stewart World Center? Stewart Tower? Stewart Taj Mahal? Yes, the domestic goddess is getting into branded real estate á la President Donald Trump.

Marquee Brands, the company that picked up both Stewart and Emeril Lagasse brands in a more then $200 million deal this spring, has tapped a real estate agency to explore projects for Stewart.

The firm, Brand Labs International, is on the prowl for cities, developers and real estate projects that are a match for Stewart’s brand of elevated DIY comfort, CEO Florian Haffa tells the Real Deal. Haffa added that Stewart would be involved in the design process for various new developments and that talks are already underway with specific developers in the U.S., Europe and Asia.

But branded real estate isn’t the only thing Stewart has in common with Trump. Stewart and the president have a long and tenuous relationship going back decades. In 2005, Stewart even played the executive on NBC’s “The Apprentice” for a season, causing friction between the two television personalities. Stewart claimed that she was supposed to have fired Trump on air but that Trump refused to leave the show.

Trump fired back in a statement at the time saying: “I knew it would fail as soon as I first saw it — and your low ratings bore me out.”

Now, with lucrative branded real estate entering her portfolio, all Stewart needs is a presidential bid to make her Trumpification complete.

Alibaba eyes mutli-billion dollar Hong Kong IPO despite raging protests

Little pressure on President Xi to back down in Hong Kong: Eurasia Group president

Eurasia Group president Ian Bremmer discusses Hong Kong protests, Beijing’s pushback against pro-democracy protesters, China’s human rights abuses, and China trade negotiations as well as reports of Turkish forces targeting civilians in Syria.

NEW YORK (AP) — China’s Alibaba moved closer Wednesday to its anticipated listing in Hong Kong.

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The online retail giant filed an application to list its shares on the Hong Kong Stock Exchange, though it did not provide details on the amount of the new offering.

PHOTOS SHOW HONG KONG CAMPUS ERUPTING IN EPIC BATTLE

It has long been expected to launch a multibillion-dollar stock listing in Hong Kong but appeared to postpone the offering because of political and economic turmoil.

Hong Kong has been dealing with waves of pro-democracy protests since this summer that have hurt its economy. Hong Kong is part of China but has its own legal system and greater freedoms than the mainland.

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Alibaba Group Holding has been listed on the New York Stock Exchange since 2014 under the symbol ‘BABA’.

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