Stocks Retreat on New Development: Alibaba Group Holding (NYSE:BABA), Brookfield Renewable Partners (NYSE:BEP)

Alibaba Group Holding Limited (NYSE:BABA) [Trend Analysis] retains strong position in active trade, as shares scoring -2.75% to $86.80 in a active trade session, while looking at the shares volume, around 14.19 Million shares have changed hands in this session. Alibaba (NYSE:BABA) declared after the U.S. Office of the Trade Representatives (USTR) recently reported its 2016 Special 301 Out-of-Cycle Review of Notorious Markets report.

Michael Evans, president of Alibaba Group, said, “We are very disappointed by the USTR’s decision to include Taobao on its “notorious markets” list, as we are far more effective and advanced in IPR protection than when the USTR took us off the list four years ago. The decision ignores the real work Alibaba has done to protect IP rights holders and assist law enforcement to bring counterfeiters to justice. The more than 100,000 brands that operate on Alibaba’s marketplaces cannot all be wrong, they are a clear demonstration of the trust that rights holders place in us. We question whether the USTR acted based on the actual facts or was influenced by the current political climate.” The firm has institutional ownership of 36.00%. BABA attains analyst recommendation of 1.70 with week’s performance of -2.13%. Investors looking further ahead will note that the Price to next year’s EPS is 24.96%.

Brookfield Renewable Partners L.P. (NYSE:BEP) [Trend Analysis] knocking active thrust in leading trading session, shares an increase of 0.31% to 28.81 with around 35011 shares have changed hands in this session. Brookfield Renewable Partners L.P. (NYSE:BEP) declared that the Toronto Stock Exchange accepted a notice filed by Brookfield Renewable of its intention to renew its normal course issuer bid. Brookfield Renewable believes that in the event that its limited partnership units trade in a price range that does not fully reflect their intrinsic value, the acquisition of Units may represent an attractive use of accessible funds.

Brookfield Renewable is authorized to repurchase up to 8.3 million Units, representing approximately 5% of the issued and outstanding Units. At the close of business on December 15, 2016, there were 166,752,453 Units issued and outstanding. Under the normal course issuer bid, Brookfield Renewable may purchase up to 53,839 Units on the TSX during any trading day, which represents 25% of the average daily trading volume of 215,357 Units on the TSX for the six months ended November 30, 2016, calculated in accordance with the rules of the TSX. The stock is going forward its fifty-two week low with 41.50% and lagging behind from its 52-week high price with -9.54%.

Similar, the positive performance for the quarter recorded as -8.45% and for the year was 15.57%, while the YTD performance remained at 9.70%. BEP has Average True Range for 14 days of 0.51.

 

About Blake Escott

Blake Escott holds junior writer position in SWR. Before joining Streetwise Report, he was a freelance content Writer. He has high-level copywriting experience and particularly experienced in proofreading and editing. He covers news about different companies including all US market sectors. Interests: Commodities, Energy stocks, Sector-wise Stocks analysis, Utilities

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