42.60 -1.16 (-2.65%)
Pre-market: 6:18AM EDT
|Bid||42.50 x 1000|
|Ask||42.69 x 1100|
|Day's range||43.12 - 45.23|
|52-week range||34.76 - 50.68|
|PE ratio (TTM)||355.77|
|Earnings date||13 Aug 2018 - 17 Aug 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||48.11|
JD.com and Google-parent Alphabet forged a wide-ranging alliance, with the U.S. internet search giant taking a small stake in the Chinese e-commerce firm.
Stifel analyst Scott Devitt wrote Monday that Google's recently announced investment in JD.com Inc. is an endorsement of the internet economy in Southeast Asia. "This transaction will better-position Google's retail efforts in the region," he said. Alphabet Inc.'s Google announced Monday that it would be investing $550 million in JD and that the two companies would begin a strategic partnership.
Stocks slid lower Monday as global markets remained rattled by the U.S.-China trade standoff. China stocks were highly active, however, led by JD.com.
Alphabet Inc.’s (NASDAQ: GOOGL) Google subsidiary announced that it will be investing $550 million in Chinese e-commerce powerhouse JD.com (NYSE: JD) in exchange for 27,106,948 newly issued Class A shares at a price of $40.58 per ADS. JD.com’s stock has responded to the news by rising more than 5% in pre-market trading, while the stock of Google’s parent company, Alphabet, is down just over 0.5%.
Google is investing $550 million in cash in China’s JD.com Inc. as the U.S. search giant pushes deeper into online commerce. Alphabet Inc.’s Google will buy newly issued Class A shares at $20.29 per share, equivalent to $40.58 per ADS, the companies said in a joint statement Monday. The pair plan to explore joint development of retail solutions in regions, including Southeast Asia, the U.S. and Europe.
JD.com, Inc., China’s leading technology-driven e-commerce company, and Google, announced today that Google will invest $550 million in cash in JD.com as part of a strategic partnership. Google and JD plan to collaborate on a range of strategic initiatives, including joint development of retail solutions in a range of regions around the world, including Southeast Asia, the U.S. and Europe.
Shares of Alibaba Group Holding Ltd. and JD.com Inc. are up 1% and 3.5%, respectively, after Stifel analyst Scott Devitt commented on China's latest retail-sales numbers for May. Total retail sales rose ...