The IPO was expected to be the largest in history and to give Alibaba a massive valuation—making founder Jack Ma one of the world's richest men.» Read More
eBay rose$. 75 or 1.4 percent, to $52.70. Groupon Inc. fell$. 08 or 1.1 percent, to $6.89. LinkedIn Corp. rose$. 46 or. 2 percent, to $210.50.
The company priced its initial public offering of stock at $68 per share on Thursday, the top end of the expected price range, according to IPO investment adviser Renaissance Capital. That's bigger than the current market value of Amazon, Cisco, and eBay.
NEW YORK, Sept 18- Alibaba Group Holding Ltd's shares do not begin trading until Friday, so investors hungry for a bite of the Chinese e-commerce giant have turned their attention to Yahoo Inc's options in recent days. The volume of options trading in Yahoo- which has a big stake in Alibaba- has risen steadily over the last month.
Sept 18- Alibaba Group Holding priced its initial public offering at $68 a share, the top end of the expected range, raising $21.8 billion on Thursday. "I'd put them in a class of Facebook and Google with the scale they have, growth prospects and profitability," said Scot Wingo, CEO of e-commerce software provider ChannelAdvisor.
NEW YORK, Sept 18- U.S. stocks were higher in afternoon trading on Thursday, with the S&P 500 hitting a record peak a day after the U.S.
eBay rose$. 36 or. 7 percent, to $52.31. Groupon Inc. fell$. 14 or 2.0 percent, to $6.83. LinkedIn Corp. fell$. 05 or percent, to $209.99.
Apple Inc. rose. 2 percent to $101.79 with 35,902,100 shares traded. Facebook Inc. rose. 7 percent to $77.00 with 22,472,500 shares traded. Gilead Sciences Inc. rose 2.0 percent to $105.93 with 16,071,400 shares traded.
NEW YORK, Sept 18- U.S. stocks were higher in afternoon trading Thursday, with the Dow and S&P 500 hitting fresh record highs after the U.S. Goldman Sachs, up 1.6 percent to $187.84, was the top boost to the Dow.
NEW YORK, Sept 18- U.S. stocks were rising in late morning trading on Thursday, with the S&P 500 hitting a record high a day after the U.S. However, the central bank's outlook included forecasts for higher-than-expected rates in 2015 and 2016, which helped financial stocks lead gains on Wall Street.
Alibaba's IPO will generate a lot of money for Yahoo, reports CNBC's Josh Lipton.
The largest percentage gainer on the New York Stock Exchange was Penn West Petroleum, up 11.54 percent, while the largest decliner was Pier 1 Imports, down 17.57 percent a day after it slashed its full-year earnings forecast.
NEW YORK, Sept 18- U.S. stock index futures were higher in light volume on Thursday, setting up the S&P 500 to test resistance at its record high, a day after the Federal Reserve said interest rates would remain low for a considerable while.
SAN FRANCISCO/ BOSTON, Sept 18- Alibaba Group Holding Ltd's upcoming public offering will give Yahoo Inc billions of dollars for a potential shopping spree that investors hope will jumpstart its comeback. But with numerous holes to fill and soaring tech company valuations, Yahoo will have to make tough choices with any acquisitions.
Alibaba's IPO will unleash a flood of wealth for Jack Ma and Joseph Tsai, but unlike some other tech IPOs, the big money isn't being spread around the company.
BEIJING— Control over Alibaba Group will stay in the hands of founder Jack Ma and other company veterans after the Chinese e-commerce giant goes public on the New York Stock Exchange in a record busting share sale.
eBay rose$. 34 or. 7 percent, to $51.95. Groupon Inc. rose$. 02 or. 3 percent, to $6.97. LinkedIn Corp. fell $2.34 or 1.1 percent, to $210.04.
NEW YORK, Sept 17- U.S. stocks edged higher in volatile trading on Wednesday after the U.S.
Alibaba's long-awaited IPO is finally around the corner, making this a good time to take a look at just how an IPO works.
Apple Inc. was unchanged at $100.91 with 26,598,500 shares traded. Auxilium Pharmaceuticals Inc. rose 44.1 percent to $31.00 with 10,563,000 shares traded. Cisco Systems Inc. was unchanged at $25.23 with 11,326,700 shares traded.
eBay rose$. 07 or. 1 percent, to $51.68. Groupon Inc. fell$. 02 or. 3 percent, to $6.93. Zynga Inc. rose$. 07 or 2.3 percent, to $3.09.