On Friday, Shares of Alibaba Group Holding Limited (NYSE:BABA), gained 1.59% to $80.30.
Alibaba Group Holding Limited, declared it has invested in Mei.com, China’s leading flash sales platform for luxury and fashion products. This cooperation will enhance Mei.com’s supply chain services of the sales of limited time discounted quality products from well-known international luxury and fashion brands to consumers in China.
The investment will enable Alibaba Group to integrate resources from its B2C platform Tmall.com, China’s largest third-party platform for brands and retailers, to form a specialized services team to support Mei.com’s development and assist them in growing their user base, brand cooperation base, logistic services and IT infrastructure services. Mei.com’s close cooperation with a wide selection of luxury brands will complement Tmall.com’s existing selection of affordable luxury goods for Chinese consumers.
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 Rex Energy Corporation (NASDAQ:REXX), declined -3.65% to $3.70, during its last trading session.
Rex Energy Corporation, declared that it, together with its partners in Water Solutions Holdings, LLC, has closed on the formerly declared sale of Water Solutions to American Water Works Company, Inc.. The sale of Water Solutions comprises all auxiliaries, counting Keystone Clearwater Solutions. Rex Energy, which held a 60% interest in Water Solutions, is selling its entire interest and received net proceeds from the sale of about $67 million. The proceeds will be used to pay down the revolving line of credit and for general corporate purposes.
Rex Energy Corporation operates as an independent oil, natural gas liquid, and natural gas company in the Appalachian and Illinois basins in the United States. The company focuses on the Marcellus Shale, Utica Shale, and Burkett Shale drilling and exploration activities in the Appalachian Basin, in addition to on developmental oil drilling and the implementation of improved oil recovery on its properties in the Illinois Basins.
Finally, Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), ended its last trade with 0.94% gain, and closed at $4.29.
Arena Pharmaceuticals, declared that Robert E. Hoffman, Senior Vice President, Finance and Chief Financial Officer, has decided to leave the company after nearly 18 years of service to pursue another opportunity in the biotechnology industry. Mr. Hoffman is predictable to remain in his current role at Arena until July 10, 2015.
Following Mr. Hoffman’s departure, Jennifer K. Bielasz, Arena’s Vice President, Accounting and Controller, will continue to play a key leadership role in Arena’s finance department. Ms. Bielasz joined Arena in 2001 and is responsible for managing all accounting activities. Preceding to joining Arena, Ms. Bielasz served as the controller of both public and private companies and began her career at KPMG LLP.
Arena Pharmaceuticals, Inc., a biopharmaceutical company, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The company offers BELVIQ, a drug used to treat chronic weight administration in adults.
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