Byzen Digital Inc
Change company Symbol lookup
Select an option...
BYZN Byzen Digital Inc
XOM Exxon Mobil Corp
EPD Enterprise Products Partners LP
STLB Sterling Business Solutions Inc
CITY Avalon Correctional Services Inc
TEVJF Teva Pharmaceutical Industries Ltd
UMBF UMB Financial Corp
OXM Oxford Industries Inc
ICON Iconix Brand Group Inc
BAC Bank of America Corp
Go

Information Technology : IT Services |
Based in China
Company profile

Byzen Digital Inc. (formerly Emergency Pest Services Inc.) is a China-based company principally engaged in the development of a complete blockchain eco-system for Crypto requirements as its main objective. Byzen Digital Inc. has already made its first two acquisitions. Telecoin is a typical Crypto-currency company and Digi Ex is a company specialized in the marketing and promoting of Crypto-currencies. The Company help take its customers on a journey towards a much wider understanding of what Crypto and Blockchain technologies really are through its products. The Company also focuses to incorporate start-ups and small and medium-sized enterprises (SMEs) from the technology sectors, including cybersecurity, data storage, cloud-tech, analytics, software and digital applications.

Price
Delayed
$0.1873
Day's Change
0.0273 (17.06%)
Bid
--
Ask
--
B/A Size
--
Day's High
0.189
Day's Low
0.151
Volume
(Heavy Day)

Today's volume of 72,071 shares is on pace to be much greater than BYZN's 10-day average volume of 898,364 shares.

72,071

Alibaba makes 'major strategic move' with $28 billion cloud investment over next 3 years

10:26 am ET April 20, 2020 (MarketWatch)
Print

By Emily Bary

Analyst says spending plan could double Cloud's contribution to Alibaba's overall revenue, have 'ripple impact' across the sector for years

Alibaba Group Holding Ltd. plans to bolster its cloud business as the new coronavirus outbreak drives increased demand for online services.

The Chinese e-commerce giant announced Monday a three-year RMB200 billion (about $28 billion) investment in its cloud operations as the company aims to help businesses accelerate their adoption of digital services amid the COVID-19 pandemic. The investments will focus on Alibaba's (9988.HK) cloud operating system, servers, chips and network.

"The COVID-19 pandemic has posed additional stress on the overall economy across sectors, but it also steers us to put more focus on the digital economy," Jeff Zhang, the president of Alibaba's Cloud Intelligence unit, said in a statement. He said Alibaba's cloud investments will "help businesses speed up the recovery process, and offer cloud-based intelligent solutions to support their digital transformation in the post-pandemic world."

Read: Alibaba isn't out of the woods after China's recovery from the coronavirus (http://www.marketwatch.com/story/alibaba-isnt-out-of-the-woods-after-chinas-recovery-from-the-coronavirus-2020-04-14)

Wedbush analyst Daniel Ives called the investment "a major strategic move" that he expects will "have a ripple impact across the cloud software/hardware sector for the coming years" as more companies leverage Alibaba's cloud technology.

Ives wrote that the company's increased cloud spending could help it fend off competition from JD.com Inc. (JD), Tencent Holdings Ltd. (0700.HK), and Baidu Inc. (K3SD.SG) while also making the cloud business a greater portion of its overall revenue.

Don't miss: Alibaba co-founder Jack Ma's foundation to donate coronavirus testing kits, masks to U.S (http://www.marketwatch.com/story/alibaba-co-founder-jack-mas-foundation-to-donate-coronavirus-testing-kits-masks-to-us-2020-03-13).

"We note while Alibaba has seen strong growth on cloud over the past year (60%+ growth), this business represents less than 10% of overall revenues and we believe could double over the next few years as the China cloud story continues to ramp significantly," Ives said in a note to clients. "With Amazon (AMZN) and Microsoft (MSFT) in a global two horse race owning the cloud market, Alibaba is making both an offensive and defensive move with today's cloud announcement in our opinion."

Overall, he expects an acceleration of global cloud spending as the COVID-19 pandemic dramatically alters daily life. While businesses and consumers may lean on video-conferencing software and other remote tools to stay connected, Ives said that ultimately it is cloud companies like Alibaba, Microsoft Corp., Amazon.com Inc. and Alphabet Inc. (GOOGL) (GOOGL) that power these technologies.

Read: Amazon Web Services sees stronger competitors, but believes it will still rule the cloud (http://www.marketwatch.com/story/amazon-web-services-pivots-to-the-future-with-a-flurry-of-features-2019-12-04)

Alibaba shares were up 2.5% in morning trading Monday. They've lost 5.5% over the past three months as the KraneShares CSI China Internet ETF (KWEB) has declined 8.7% and as the S&P 500 has fallen 15%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

April 20, 2020 10:26 ET (14:26 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2020 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2020. All rights reserved.