Alibaba Not Interested In Buying Paramount
Although Alibaba founder Jack Ma recently met with Shari Redstone, the daughter of the controlling shareholder of Viacom, Inc. (NASDAQ:VIAB), Sumner Redstone, it seems that Alibaba Group Holding Ltd (NYSE:BABA) isn’t interested in purchasing the company’s Paramount Pictures unit. According to The Street, the e-commerce giant is more interested in licensing deals instead. Alibaba has been a serial acquirer since its IPO and certainly has the resources to pull the deal off if it wanted to. At the end of March, 67 elite funds tracked by us owned shares of Alibaba Group Holding Ltd (NYSE:BABA).
Technical Selling Detected at Valeant
Valeant Pharmaceuticals Intl Inc (NYSE:VRX) has declined by 4% today amid broader market weakness. The company’s stock has been in a sharp downtrend due to concerns that its considerable debt load and inability to raise prices as before could hurt the company’s earnings results. Valeant is also in the news today after announcing the launch of a new PreserVision AREDS 2 Formula + Multivitamin. The new version is made by Valeant’s Bausch + Lomb division, which some traders regard as the company’s crown jewel. The number funds from our database with holdings in Valeant Pharmaceuticals Intl Inc (NYSE:VRX) fell by 12 quarter-over-quarter to 71 at the end of March.
Kroger Co Rallies on Earnings
The Kroger Co (NYSE:KR) is one of the few stocks in the green today, having advanced by over 2%. The grocer reported earnings of $0.70 per share on revenue of $34.6 billion, beating earnings estimates by $0.01 per share, but missing revenue expectations by $280 million. Identical supermarket sales without fuel grew by 2.4% year-over-year and the company exceeded its goal of slightly expanding FIFO operating margin without fuel and Roundy’s on a rolling four-quarter basis. The number funds tracked by us with holdings in The Kroger Co (NYSE:KR) fell by nine quarter-over-quarter to 30 at the end of March.