On Wednesday, Shares of Alibaba Group Holding Limited (NYSE:BABA), lost -5.12% to $73.38, hitting its lowest level.
Alibaba Group Holding Limited declared an exclusive agreement with Macy’s China Limited, a joint venture between Macy’s Inc, one of America’s most iconic fashion retailers and the largest U.S. department store by retail sales, and Hong Kong-based Fung Retailing Limited, a leading retailer in Greater China (1). Under the agreement, Macy’s China Limited will launch an exclusive online flagship store on Tmall Global providing a wide selection of authentic, high-quality Macy’s merchandise to shoppers in China. This partnership will enable Macy’s brands to reach hundreds of millions of Chinese consumers by leveraging Alibaba’s data-driven ecosystem.
This is a major milestone as Macy’s, through the joint venture, will be the first U.S. department store to join Alibaba’s Tmall Global. With more than 150 years of tradition and heritage, Macy’s is a revered retail institution that has truly embraced the spirit of e-commerce counting the effort to merge online and offline commerce. Alibaba continues to assist brands to expand their customer reach in providing comprehensive end-to-end solutions to make it easier for brands to sell premium imported goods to China, making this win-win partnership.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Shares of Oasis Petroleum Inc. (NYSE:OAS), inclined 5.55% to $11.60, during its last trading session, as oil closed higher on Wednesday as a weaker dollar and lower U.S. crude stockpiles offered a modest bounce off six-year lows hit the previous session, when worries about China’s plummeting currency and economic slowdown sank prices, according to CNBC.
U.S. light crude oil settled up 22 cents, or 0.5 percent, at $43.30 a barrel, after gaining almost 80 cents at the session high. On Tuesday, the market fell $1.88, or more than 4 percent, to settle at $43.08 a barrel, its lowest close since March 2009.
Benchmark Brent crude oil was up 53 cents a barrel at $49.70, after a session high at $49.91. CNBC Reports
Oasis Petroleum Inc., an independent exploration and production company, focuses on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin. The company’s principal projects are located in West Williston and East Nesson.
Finally, The Wendy’s Company (NASDAQ:WEN), ended its last trade with 2.78% gain, and closed at $9.99.
The Wendy’s Company’s rating was boosted by research analysts at JP Morgan from a Neutral rating to a Overweight rating in a research report issued on 8 June. The firm after the upgrade has a $12 target on the stock. JP Morgan’s target would suggest a potential upside of 20.48%.
The firm recently declared a quarterly dividend, which will be issued on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 2.17%.
The Wendy’s Company, through its auxiliaries, owns and franchises Wendys restaurant system. The company is involved in operating, developing, and franchising a system of quick-service restaurants. As of May 26, 2015, its restaurant system comprised of about 6,500 franchised and company-operated restaurants worldwide.
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