Alibaba Group Holding Ltd.’s estimated valuation rose to an average of $153 billion after the Chinese e-commerce company, said to be headed for an initial public offering this year, reported surging sales.
Twitter Inc., the microblogging service that went public in November, fell for the fourth straight day as doubts rise about whether the company can deliver enough sales growth to justify its valuation.
Facebook Inc. Chief Executive Officer Mark Zuckerberg keeps telling investors he’s building a “mobile first” company. They finally got the message, sending the shares to the highest close since their debut trading day.
Yahoo! Inc. surged after firing Chief Executive Officer Carol Bartz, whose reign was marked by falling sales, lost share to rivals and a dispute with Asian partners that stunted growth in the world’s largest Web market.
Warner Bros. is offering an online rental service on Facebook Inc., giving the studio a new way to distribute films amid concerns by parent Time Warner Inc. that Netflix Inc. devalues movies and TV shows.