On Friday, Shares of Alibaba Group Holding Limited (NYSE:BABA), lost -3.04% to $68.18, hitting its lowest level, perilously close to breaking below the price set in the largest IPO in history as fears of a China-led global slowdown rattled investors, according to Reuters.
A potential move below $68 would make China’s largest e-commerce firm the second high-profile tech company to fall below its IPO price this week after Twitter Inc on Thursday dropped below its 2013 IPO price. Reuters Reports
It would also be a potential embarrassment to founder Jack Ma and the underwriters who engineered Alibaba’s market debut last September. Reuters added.
Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the Peoples 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 Ross Stores Inc. (NASDAQ:ROST), declined -9.50% to $50, during its last trading session.
Ross Stores declared that the Company’s Board of Directors declared a regular quarterly cash dividend of $.1175 per common share, payable on September 30, 2015 to stockholders of record as of September 4, 2015.
Ross Stores, Inc., together with its auxiliaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dds DISCOUNTS brand names in the United States. It primarily offers apparel, accessories, footwear, and home fashions.
Finally, Ascena Retail Group Inc. (NASDAQ:ASNA), ended its last trade with -1.84% loss, and closed at $11.22.
Ascena Retail Group declared that it has accomplished its acquisition of ANN INC. for a combination of cash and ascena stock in an accretive transaction.
With the completion of the merger, ANN INC. shares will be delisted from the NYSE and trading will cease at the close of business on Friday, August 21st. ANN INC. will continue to operate as a wholly-owned partner of ascena.
With the addition of the Ann Taylor, LOFT, and Lou & Grey brands, ascena is now one of North America’s largest and most diversified specialty apparel retailers, with $7.4 billion in trailing twelve month sales, a combined fleet of over 4,900 stores, and over 70,000 associates.
Ascena Retail Group, Inc., through its auxiliaries, operates as a specialty retailer of apparel for women, and tween girls and boys. It operates through five segments: Justice, Lane Bryant, maurices, dressbarn, and Catherines segments.
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