Alibaba’s surprise leadership shift
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 11 September 2023
⏱️ 6 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Show links:
Biggest stock movers today: Tesla and Crinetics Pharmaceuticals
FDIC says it could have done more to warn First Republic Bank of rate risks
Apple's big event may be 'quiet.' Why Wall Street thinks that's a good thing
Kenvue shares may gain after FDA comments in Tylenol-Autism warning label lawsuit
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning, today is Monday, September 11th, and I'm your host Julie Morgan. |
| 0:12.0 | Alibaba announces more leadership changes. |
| 0:15.0 | J.M. Smucker is reportedly nearing a deal to buy the maker of Twinkies, |
| 0:20.0 | and Tesla is a top pick at Morgan Stanley. |
| 0:24.0 | Alibaba's Hong Kong listed shares fell more than 3% on Monday |
| 0:28.5 | after the company said its outgoing CEO will also step down as the chairman and head of its Cloud Intelligence Unit. |
| 0:36.0 | Daniel Jean has led the Alibaba Cloud Intelligence Division since 2022. |
| 0:41.6 | And if you remember back in June when it was announced |
| 0:44.2 | that Eddie Wu would take over as CEO of Alibaba, |
| 0:47.4 | it was also announced that Jong would continue |
| 0:50.1 | to serve as chairman and CEO of Alibaba's Cloud Intelligence Group. |
| 0:54.9 | Jean is said to have expressed his wish to transition away from his role as chief of the Cloud |
| 1:00.3 | business. An internal letter says he will continue to contribute to |
| 1:04.2 | alibiba by channeling his expertise differently. |
| 1:07.9 | Alibaba will invest $1 billion in a technology fund that Jong will set up to support the company's growth strategies. |
| 1:15.9 | The company will continue with the planned spin-off of its Cloud Unit as part of its plan |
| 1:20.9 | to split its 220 billion- dollar business into six main units. |
| 1:25.4 | J.M. Smucker is nearing a deal to buy Twinkie's owner, Hostess Brands, |
| 1:31.0 | and a deal worth $4 billion. |
| 1:33.4 | According to a Wall Street Journal report on Sunday, |
| 1:36.3 | the deal could be announced as soon as today. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.