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Today’s Research Reports on Stocks to Watch: Amazon and Alibaba

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / October 19, 2018 / Amazon shares were in the red on Thursday on the news that eBay is suing Amazon for allegedly stealing away its sellers. Shares of Alibaba Group also closed in the red after an analyst cut his price target on the stock. The company is investing around $288 million into a domestic wine and spirits importer and retailer called 1919.cn.

RDI Initiates Coverage on:

Amazon.com, Inc.
https://rdinvesting.com/news/?ticker=AMZN

Alibaba Group Holding Limited
https://rdinvesting.com/news/?ticker=BABA

Amazon.com, Inc. shares closed down 3.33% on about 5.8 million shares traded on Thursday. eBay filed a complaint on Oct. 17 in Santa Clara, California, alleging that Amazon has for years violated its user policies to poach eBay sellers for its own e-commerce platform. “Since 2015, dozens of Amazon sales representatives in the U.S. and overseas set up eBay member accounts to access eBay’s ‘M2M’ email system and used that system to solicit many hundreds of eBay sellers to sell on Amazon’s platform,” the company writes in its complaint. “Amazon’s misuse of eBay’s M2M system has been coordinated, targeted, and designed to inflict harm on eBay.” In other news, a Seattle judge has granted Amazon.com Inc.’s request to use subpoenas in order to reveal scammers it said are harming the internet retailer's customers and brand through a concerted "malvertising" scheme. Yesterday, Chief U.S. District Court Judge for Western Washington Ricardo Martinez gave permission to Amazon to serve subpoenas on six companies Amazon said the scammers used to carry out a campaign of fake ads. “Amazon is not granted leave at this time to serve additional ... subpoenas on other companies or individuals (e.g., banks, credit card companies, internet service providers, etc.) that may be discovered from the information possessed by the companies identified,” the judge wrote in his order.

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Access RDI’s Amazon.com, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AMZN

Alibaba Group Holding Limited shares closed down 4.13% on Thursday on about 20.5 million shares traded. Oppenheimer analyst Jason Helfstein cut his price target on the Chinese e-commerce giant based on concerns about slower revenue growth and the impact that aggressive investments will have on profit margins. Analyst brought down its price target on the stock from $230 to 210. In other news, the Company said that it would be investing 2 billion yuan ($288.25 million) in domestic wine and spirits importer and retailer 1919.cn. 1919.cn., which is listed on China's over-the-counter equities exchange, said to the National Equities Exchange and Quotations (NEQ) that Alibaba would buy over 39.3 million shares in a share subscription. Wine fair operator Vinexpo has said that China is expected to become the second largest wine market in the world behind the U.S. Alibaba will be reporting its unaudited financial results for the quarter ended September 30,2018 before the U.S. market opens on Friday, November 2nd.

Access RDI’s Alibaba Group Holding Limited Research Report at:
https://rdinvesting.com/news/?ticker=BABA

Our Actionable Research on Amazon.com, Inc. (NASDAQ: AMZN) and Alibaba Group Holding Limited (NYSE: BABA) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com