STOCKS TELEGRAPH

Tag: Alibaba

  • Orbsat Corp. (OSAT) Stock Skyrockets Following Announcement of Partnership with Alibaba.com

    Orbsat Corp. (OSAT) stock prices were down by 5.39% at the end of July 12th, 2021, bringing the price per share down to USD$6.67. Subsequent premarket fluctuations have seen the stock surge by 77.06%, bringing it up to USD$11.81.

    Partnership with Alibaba

    The company announced on July 13th, 2021 that its Global Telesat Communications (GTC) unit had entered into an agreement with Alibaba.com. The B2B e-commerce website owned by the Chinese multinational technology company, Alibaba Group, specializes in e-commerce, retail, internet, and technology. Making use of the world’s largest B2B e-commerce website, Alibaba.com, GTC will be a Gold-Supplier. Alibaba.com boasts a network of global active business partners of more than 26 million, which serve customers across 190 countries in 19 different languages. The company receives over 340,000 product inquiries and 20,000 RFQs on a daily basis.

    Details of Collaboration

    Having been designated the highest level on Alibaba.com, OSAT finds itself in the most trusted seller category, which significantly expands the scope of its around-the-clock e-commerce presence with the launch of its latest global storefront. The company anticipates launching the new storefront during the third quarter of 2021, made possible by an extensive range of satellite IoT and connectivity products.

    OSAT Product Portfolio

    Among these products are the company’s specialized satellite tracking products, some of which are operated with the use of OSAT’s numerous ground station-based network processors. These can be used to track and monitor the location of a myriad of remote assets, including, but not limited to, cars, trucks, trailers, boats, containers, and animals. The company’s catalog of more than 500 products and connectivity services is set to be available on Alibaba.com by the start of the first quarter of 2022.

    Scope of Partnership

    The onset of the global pandemic and the ensuing closures and social restrictions has resulted in an explosion in online shopping, with e-commerce gaining unprecedented traction. The company is confident that e-commerce is the way of the future and is poised to consolidate its online presence with the recent partnership. Furthering this strategy, OSAT intends to secure new integration alliances, including joint commerce structures with additional connectivity partners.

    Future Outlook for OSAT

    Armed with the potentially massively profitable partnership, OSAT is keen to continue to allocate resources towards adapting to a pandemic and post-pandemic economy. Investors are hopeful that the company will effectively consolidate and expand its market footprint in successful efforts to facilitate significant and sustained increases in shareholder value.

  • Early Morning Vibes: The 4 Best Stocks To Buy Now

    American stock markets ended trading largely in the green zone on January 13. The S&P 500 index improved to 3810 points by 0.23 percent, the NASDAQ gained 0.43 percent, the Dow Jones fell by a symbolic 0.03 percent.  In general, cyclical sectors seemed lower than the economy. The automotive and raw materials markets sunk. The oil and processing industries have dropped by 1.05%. In terms of trends during the last month, the real estate market gained 1.39 percent, but still ranks among the laggards.

    Company news

    Intel (INTC: + 7%) announced its CEO change. Beginning February 15, Bob Swan will be replaced by CEO of VMware (VMW: -6.8%).

    Retailer Target (TGT: -1.2%) reported strong sales during the holiday period, but expectations were high and saw stocks up 15% over the month.

    Alibaba (BABA: + 4.3%) gained support as the US government is unlikely to exclude the company’s securities from circulation on the NYSE.

    Mixed patterns are visible in global capital markets. The news would not carry new activity motors, investors wait to see until the beginning of the quarterly reporting season. President-elect Joe Biden today will deliver a $2 trillion rescue plan. There is also some insecurity regarding the proposals to boost the economy, such that the emergence of information raises market instability which may increase investor confidence.

    Yesterday, the House of Representatives of the United States voted to challenge Donald Trump, where the Democrats planned to achieve a clear majority. In expectation of new drivers, investors will be involved in the speech by FRS President Jerome Powell, who is speaking today on the possibility of modifying the programme for quantitative easing.

    Economic news

    Today, there are weekly data on the number of initial applications for unemployment benefits (forecast: growth to 795 thousand from 787 thousand a week earlier). The latest labor market report released on January 8 showed significant job losses in December. Labor market weakness will persist in the short term.

    Delta Airlines (DAL) will report for the fourth quarter. The consensus foresees a 67% decline in airline revenue to $ 3.77 billion. Delta CEO Ed Bastian said in early December that demand for flights was slowing down on the back of rising incidence of COVID-19.

    Sentiment Index

    The Freedom Finance Sentiment Index remained stable at about 58 out of 100. The measure represents market participants’ hope that the global economy will rebound in 2021. The possibility of widespread vaccination alleviates anxiety about the detrimental consequences of the coronavirus pandemic.

    Technical picture

    Technically, the S&P 500 is still prone to short-term consolidation, during yesterday’s session the situation has not changed. Buyers are showing strength, but the RSI remains close to the overbought zone, limiting growth prospects for now. In addition, in the area of ​​3825-3830 points, there is a strong resistance in the form of the upper border of the equidistant channel, which the broad market index needs to overcome to continue the upward movement.

    Today Top Movers

    Marathon Patent Group Inc (MARA), a digital asset technology company, ascended about 7.30% ‎at $24.68 in pre-market trading Thursday after the company declared a $250 million stock offering.‎

    Churchill Capital IV Corp (CCIV) share price gained 13.04% to $18.90 during the early morning ‎trading session on Thursday.‎‎

    Organogenesis Holdings Inc (ORGO) stock soared 38.96% at $10.20 in the pre-market trading today after reporting preliminary financial results for the three months and twelve months ended December 31, 2020.‎

    Polarityte Inc (PTE) jumped over 28.70% at $1.48 in pre-market ‎trading on Thursday following the declaration of a $10.0 million registered direct offering.‎

    Latest Insider Activity

    General Motors Company (GM) Executive Vice President & CIO MOTT RANDALL D announced the sale of shares taking place on Jan 12 at $48.01 for some 25,000 shares. The total came to more than $1.2 million. 

    Cinedigm Corp. (CIDM) Director Xu Peixin sold on Dec 31 a total 30,812,133 shares at $0.61 on average. The insider’s sale generated proceeds of almost $2.36 million. 

    Root Inc. (ROOT) 10% Owner Malka Meyer declared the purchase of shares taking place on Dec 30 at $16.55 for some 753,976 shares. The transaction amount was around $12.48 million. 

    Cerecor Inc. (CERC) Director ARMISTICE CAPITAL, LLC bought on Jan 08 a total 32,634,285 shares at $2.60 on average. The purchase cost the insider an estimated $6.5 million.

    Important Earnings

    Top US earnings releases scheduled for today include Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.94 per share from revenues of $12.91B in the three-month period. 

    Analysts expect Delta Air Lines Inc. (NYSE: DAL) to report a net income (adjusted) of -$2.51 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $3.6B. 

    Progress Software Corporation (PRGS), due to announce earnings after the market closes today, is expected to report earnings of $0.77 per share from revenues of $128.01M recently concluded three-month period.