Nova Lifestyle, Inc. (NASDAQ:NVFY) [Trend Analysis] knocking active thrust in leading trading session, shares a decrease of -4.11% to 4.20 with about 3.26 Million shares have changed hands in this session. Nova LifeStyle, Inc. (NVFY) released that it has inked a $15M yearly product framework contract to supply U.S. made mattresses and other products to a leading Hong Kong and Malaysia-based professional training institute – The Future Biz School.
The Future Biz School offers management and marketing training to working professionals across Asia based on its successful “Reward Points” programs. The actual sales under the framework contract will be subject to, and fulfilled by, the specific orders from the Future Biz School (“FBS”). Together with the execution of the framework contract, the Firm has attained firm orders from FBS for October and November of 2016 to supply $2 million worth of products. The stock is going forward its fifty-two week low with 1005.26% and lagging behind from its 52-week high price with -18.45%. Same, the positive performance for the quarter recorded as 848.51% and for the year was 90.05%, while the YTD performance remained at 133.33%. NVFY has Average True Range for 14 days of 0.60.
Alibaba Group Holding Limited (NYSE:BABA) [Trend Analysis] retains strong position in active trade, as shares scoring -1.53% to $103.62 in a active trade session, while looking at the shares volume, about 17.73 Million shares have changed hands in this session. Investors gearing up for the initial public offering of Ant Financial, the $60 billion online finance arm spun off by e-commerce giant Alibaba (BABA.N), will have to wait until at least late 2017 as the business puts growth first, sources say. Sources with knowledge of the plans stated Ant Financial, whose anchor business is Alipay, China’s largest online payments service, is focusing on expanding its existing 450 million-strong army of daily users, adding merchants and consumers.
One of the sources stated that, as of last month, Ant had yet to contact Chinese regulators to start the lengthy listing process and join a queue of over 700 companies waiting to list. An Ant spokeswoman stated the group had not set a timetable or location for its listing, and the China Securities Regulatory Commission did not comment. The firm has institutional ownership of 30.90%. BABA attains analyst recommendation of 1.80 with week’s performance of -3.12%. Investors looking additional ahead will note that the Price to next year’s EPS is 28.32%.