Stocks With Major News: Alibaba Group Holding Limited (NYSE:BABA), Ryder System, Inc. (NYSE:R), SFX Entertainment, Inc. (NASDAQ:SFXE)

July 13, 2015 8:15 am0 commentsViews: 23

The president of Alibaba Group Holding Limited (NYSE:BABA) digital entertainment unit, Patrick Liu has been taken away by police in China, according to the company. The issue engages Liu’s time at contestant Tencent Holdings Ltd. and has nothing to do with Alibaba, the company said in an e-mailed statement. Liu is also an executive director of Hong Kong-listed Alibaba Pictures Group Ltd. Tencent said in a text statement that the company has alerted police about suspected bribery involving former employees, and that “about five or six” ex-workers have been detained since 2014. It didn’t identify anyone. Alibaba Pictures, which has been expanding in the movie industry, gained 38 percent to HK$2.34 in Hong Kong trading on Thursday. China’s stocks gained after the government took steps to shore up investor confidence to stem an equity rout. Alibaba Group Holding Limited (NYSE:BABA) stock hit highest price at $81.20, beginning with a price of $81.07 to close at 80.30 by an increase of 1.59% with a day range of $79.84-$81.20. The total market capitalization remained 201.75 Billion, total volume of 11.21 Million shares held in the session was surprisingly higher than its average volume of 16274.05 shares.

Ryder System, Inc. (NYSE:R) released on Friday that a regular quarterly cash dividend of $0.41 per share, payable on September 18 to shareholders of record on August 24. The dividend reflects a $0.04 increase from the $0.37 cash dividend Ryder had been paying quarterly since July of 2014.  On the other consideration, Ryder System, Inc. (NYSE:R) begun last trade with a price of $89.20 and throughout the trading session climbed at $90.11. The day-trade ended with an advance of 2.49% to close at $90.00. The stock is going forward its fifty-two week low with 18.07% and lagging behind from its 52 week high price with -10.22%. R last month stock price volatility remained 1.77%.

SFX Entertainment, Inc. (NASDAQ:SFXE) released on Friday that a special committee of the BOD and Robert Sillerman, the firm’s Chairman and CEO , have amended their merger contract to expand the “go shop” period during which SFX is permitted to solicit acquisition proposals from alternative purchasers other than Sillerman and his affiliates. The “go shop” period was extended from Friday, July 10 to July 24 to permit interested bidders and financing sources additional time to evaluate their proposals. In late May, SFX signed a definitive merger agreement whereby an affiliate of Sillerman would acquire all the outstanding common stock of SFX that he did not already own. Shares of SFX Entertainment, Inc. (NASDAQ:SFXE) opened at $4.00 with 93.31 million outstanding shares and hit to its highest price of $4.05 during the day and finally closed at $4.01 by scoring 0.75%. In the whole session, it traded on volume of 699634 shares, which turned higher than its average volume.

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