Altaba Inc
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Consumer Discretionary : Internet & Direct Marketing Retail | Large Cap GrowthCompany profile

Altaba Inc. (the Fund), formerly Yahoo! Inc., is a non-diversified, closed-end management investment company. The Fund seeks to track the combined investment return of the Alibaba Shares and the Yahoo Japan Shares it owns. Alibaba Shares represent an approximate 15% equity interest in Alibaba Group Holding Limited (Alibaba), and its Yahoo Japan Corporation (Yahoo Japa) Shares represent an approximate 36% equity interest in Yahoo Japan. In addition to the Alibaba Shares and the Yahoo Japan Shares, the Fund also owns the minority investments, all of the equity interests in Excalibur IP, LLC (which owns the Excalibur IP Assets) and the marketable debt securities portfolio. The Fund’s external investment advisors are BlackRock Advisors, LLC and Morgan Stanley Smith Barney LLC.

Price
Delayed
$64.43
Day's Change
0.10 (0.16%)
Bid
--
Ask
--
B/A Size
--
Day's High
65.45
Day's Low
63.89
Volume
(Heavy Day)

Today's volume of 8,886,643 shares is on pace to be much greater than AABA's 10-day average volume of 8,260,815 shares.

8,886,643

Macy's stock plunges after profit and sales outlook slashed

8:17 am ET January 10, 2019 (MarketWatch)
Print

Shares of Macy's Inc. (M) plunged 17% in premarket trade Thursday, after the department store chain slashed its outlook for profit, sales and gross margin, citing a weakening in sales in late-December. The company reported holiday-period same-store sales growth of 0.7%, compared with 1.0% growth in the same period a year ago. Macy's cut its fiscal 2018 same-store sales growth outlook to approximately 2.0% from 2.3% to 2.55; its net sales outlook to approximately flat from up 0.3% to up 0.7%; its gross margin rate guidance to "down slightly" from "up slightly"; its inventory position to "no change" from "down;" and its adjusted earnings-per-share projection to $3.95 to $4.00 from $4.10 to $4.30, compared with the FactSet consensus of $4.23. "The holiday season began strong - particularly during Black Friday and the following Cyber Week, but weakened in the mid-December period and did not return to expected patterns until the week of Christmas," said Chief Executive Jeff Gennette. He said underperformance in women's sportswear, seasonal sleepwear, fashion jewlery and watches and cosmetics offset strength in fine jewelry, women's shoes, fragrance, dresses, outerwear, active and home. The stock has lost 3.2% over the past three months through Wednesday, while the SPDR S&P Retail ETF (XRT) has declined 6.1% and the Dow Jones Industrial Average has shed 6.7%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

January 10, 2019 08:17 ET (13:17 GMT)

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