After Hours: Alibaba Makes a $2 Billion Deal, Lululemon's Q2 Crushes Estimates
Not for the first time this earnings season, tonight's trading is being driven in large part by quarterly corporate results. And once again, the entities publishing those results are mostly tech stocks.
The techies weren't the only ones reporting, though -- we also got the latest digits for a prominent consumer goods company. Meanwhile, across the Pacific, there's late-breaking news of a sizable acquisition in the Asian e-commerce space.
The chunky tech sector buy that's buzzing around the market tonight is Alibaba's (NYSE: BABA) purchase of NetEase's (NASDAQ: NTES) Kaola e-commerce unit. The price is roughly $2 billion, according to a NetEase press release on the purchase. The press release didn't provide particulars about the arrangement, including whether it will be paid in cash, stock, or a mix of both.
Source Fool.com
