Alibaba Wants to List Under BABA Symbol; Yahoo! Inc. (NASDAQ:YHOO), Softbank Corp (USA(OTCMKTS:SFTBF)

In a filing issued this morning Alibaba (BABA) will apply for listing of its ADSs on the New York Stock Exchange under the symbol “BABA.,” the company confirmed in a regulatory filing.  Yahoo! Inc. (NASDAQ:YHOO) and Softbank Corp (USA)(OTCMKTS:SFTBF) continue to be significant shareholders in Alibaba. In the same filing, the company announced that it will be listing on the NYSE instead of the NASDAQ.

Yahoo! Inc.(NASDAQ:YHOO) opened trading today at $33.66 and is trading in the range of 33.66-34.21 today. Yahoo’s current valuation stands at $34.33 billion. Compared to other peers in the Internet Information Providers sector, YHOO has underperformed in terms of quarterly revenue growth year over year at -0.01 vs. the industry average of 0.51. Yahoo’s earnings per share is currently at .77, which equals the sector average of 0.00.

Yahoo! Inc. is currently covered by 27 sell-side Wall Street analysts. The mean target price is $41.19 according to First Call. This presents a solid upside to the current price of the equity. The Mean Recommendation sits at 2.3 which is based on 7 Strong Buy, 12 Buy and 14 Hold ratings. The most recent analyst actions consisted of Gabelli upgrading the stock from Hold to Buy in April.

The current quarter EPS consensus estimate is .38 with revenue estimates of 1.09B. Sales are expected to grow at a 1.30% rate. Yahoo reported actual earnings last quarter of 0.35 which beat the .30 consensus estimate, a 16.70% surprise.

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