On Wednesday, Shares of Alibaba Group Holding Limited (NYSE:BABA), gained 0.31% to $90.79.
Alibaba Group, declared it has signed a planned agreement with Shanghai Media Group (“SMG”) to leverage both companies’ Internet technology and media resources in order to penetrate China’s financial information services industry.
As part of the planned agreement, Alibaba Group intends to invest RMB1.2 billion ($193.6 million) into China Business News (CBN), a leading Chinese financial media company under SMG, to create a financial data and information services company that will assist Chinese small and medium enterprises tap a rich mine of financial data. By utilizing Alibaba Group’s big data and cloud computing capabilities, both companies will jointly develop a comprehensive financial data and information platform that will provide users with timely financial news and information in order to enhance their investment and financial decision-making capabilities.
The aim of this platform is to raise the bar on enterprise efficiency in China by leveling the information playing field. By giving a greater number of Chinese enterprises access to precious financial data that can be easily mined and analyzed for actionable investment and business decisions, this platform is predictable to assist these enterprises scale and expand their businesses.
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 business-to-business marketplace that focuses on global trade among businesses; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.
Shares of Hilton Worldwide Holdings Inc. (NYSE:HLT), inclined 0.34% to $29.29, during its last trading session.
Hilton Worldwide, declared the acquisition of the 224-room, contemporary Cypress Hotel located in the heart of Silicon Valley. The nine-story property, which has been renamed Juniper Hotel Cupertino, Curio Collection by Hilton joins Hilton Worldwide’s fast-growing global brand specifically curated for travelers who seek local discovery and unique, authentic experiences.
The AAA Four-Diamond, Juniper Hotel Cupertino embodies the philosophy of the famous tech companies that call this area home, and seamlessly blends the latest technology of Silicon Valley with comfortable and chic accommodations designed for recently’s savvy traveler. The boutique property is conveniently located minutes from Silicon Valley’s tech giants and near area attractions such as Santana Row upscale shopping, Los Gatos historic district, Levi’s® Stadium – home to the San Francisco 49ers – and more than 15 local wineries and tasting rooms.
The hotel boasts 224 recently renovated guestrooms, counting 28 suites that define eye-catching boutique style. Blending Mediterranean warmth with California cool, each guest room is outfitted with the latest technologies to make every stay restful and productive. A “tech-chic” character is reflected in subtle design elements, counting a unique and sophisticated computer coding pattern on the window valances. Decorated in warm rich tones and plush, contemporary furnishings, the public spaces also provide an ideal setting to work or socialize – counting during the complimentary daily wine hour from 5-6 p.m. For guests’ convenience, the hotel features a Fitness Center with state-of-the-art cardio and weight-training options in addition to in-room spa treatments. The hotel’s Park Place Restaurant offers fresh, regional fare created by acclaimed Executive Chef Brad Kraten with locally sourced ingredients. Guests can also enjoy specialty hand-crafted cocktails by the cozy outdoor fire pit.
Hilton Worldwide Holdings Inc., a hospitality company, owns, leases, manages, develops, and franchises hotels, resorts, and timeshare properties worldwide.
At the end of Wednesday’s trade, Shares of Ferrellgas Partners LP (NYSE:FGP), lost -3.56% to $22.20.
Ferrellgas Partners, declared that it has priced its public offering of 6,325,000 common units representing limited partner interests in FGP at a price to the public of $23.00 per unit. FGP has granted the underwriters a 30-day option to purchase up to an additional 948,750 common units. The offering is predictable to close on June 8, 2015, subject to customary closing conditions.
FGP intends to use the net proceeds from the offering, counting its general partner’s proportionate capital contribution and after deducting underwriting discounts but before estimated offering expenses, of about $139.7 million (or about $160.6 million if the underwriters exercise their option to purchase additional units in full) to fund a portion of the cash portion of the consideration for the pending acquisition of all of the outstanding membership interests in Bridger Logistics, LLC and its auxiliaries.
J.P. Morgan, UBS Investment Bank, Barclays, BofA Merrill Lynch, RBC Capital Markets and Jefferies are acting as joint book-running managers for the offering. SunTrust Robinson Humphrey, Capital One Securities, Fifth Third Securities, MUFG and Simmons & Company International are acting as co-managers for the offering.
Ferrellgas Partners, L.P. distributes and sells propane and related equipment and supplies primarily in the United States. The company transports propane to propane distribution locations, tanks on customers premises, or to portable propane tanks delivered to retailers.
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