Why Twitter, eBay, Alibaba, and Two Other Stocks Are Trending

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Alibaba Group Holding Ltd (NYSE:BABA) is trending after Alibaba Pictures, a company partly owned by the Chinese internet giant, entered into a strategic partnership with Steven Spielberg’s Amblin Partners to finance and co-produce various films for the Chinese and global box office. Under the terms of the partnership, Alibaba Pictures will market and distribute Amblin films in the world’s second largest market for movies (likely through the company’s Youku Tudou and other distribution channels). Although the deal won’t make much of an impact in terms of Alibaba’s bottom line, it will afford the company some good-will in Beijing, which is very important. A total of 69 funds tracked by us owned shares of Alibaba Group Holding Ltd (NYSE:BABA) at the end of the second quarter, up by two funds from the previous quarter.

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After selling its Brazilian consumer division to Itau Unibanco, Citigroup Inc (NYSE:C) announced that it had reached a definitive agreement to sell its consumer banking business in Argentina to Banco Santander, S.A. (ADR) (NYSE:SAN)‘s Argentina division, Banco Santander Rio, this weekend. The sale involves around $1.4 billion in assets and includes personal loans, credit cards, deposit accounts, as well as Citi Argentina’s retail operations. Citigroup does not expect the financial terms of the sale to be material to its overall earnings results. Among the funds in our database, 97 were long Citigroup Inc (NYSE:C) and 16 funds held shares of Banco Santander, S.A. (ADR) (NYSE:SAN) at the end of June.

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Disclosure: None

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