Alibaba warns of slower growth after missing Wall Street earnings

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Kabar Medsos – Alibaba reported sales and earnings for the third quarter that missed forecasts and warned that results for the year will be below estimates as well. The stock sank on the news. Shares of Alibaba (BABA) were down 10% in early trading Thursday. The Chinese e-commerce giant reported sales growth of 29% from a year ago, to $31.1 billion. But Wall Street was expecting revenue of $32.1 billion. Earnings per share fell 38% from a year ago and also were below expectations. The company also said that sales…

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Tesla Market Value Crosses $800 Billion for First Time Ever

Kabar Medsos – Shares of Tesla Inc jumped as much as 5.6% on Friday, pushing the electric-car maker’s market capitalization to more than $800 billion for the first time ever and inching closer to the trillion dollar club. Tesla’s stratospheric rally has helped Chief Executive Officer Elon Musk surpass Amazon.com Inc’s top boss Jeff Bezos to become the world’s richest man. At today’s session high, Musk’s 21% stake in the automaker as per Forbes contributes more than $170 billion to his net worth, dwarfing the combined market capitalization of General…

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