Alibaba sells Sun Art at $2B loss
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 2 January 2025
⏱️ 5 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
Show links:
Biggest stock movers Thursday: Crypto-linked stocks and more
BYD December NEV sales set another record high
Synaptics stock rises 5% after partnership with Google to advance Edge AI for IoT devices
Just do it again: Will Nike keep its lead in 2025 or trip on the track?
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.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. It's so good to have you here on this first trading day of 2025, Thursday, January 2nd. I'm Julie Morgan. |
| 0:17.5 | Alibaba trims its portfolio. It'll cost you even more to get sick in 2025, and could there |
| 0:24.4 | be a link between the attack on Bourbon Street and the incident in Las Vegas? |
| 0:29.8 | Alibaba Group will sell its majority stake in hypermarket chain Sun Art Retail Group to private |
| 0:36.0 | equity firm DCP Capital for approximately $1.58 billion. |
| 0:40.4 | This transaction involves a sale of a 78.7% stake in SunArt, which Alibaba had acquired for |
| 0:48.5 | $3.6 billion in 2020, indicating a significant loss on the investment. Sunart traded about 22% lower on the Hong Kong |
| 0:58.1 | stock exchange on Thursday, while Alibaba also traded marginally lower. Sunart's stock, which rose by 85% |
| 1:06.3 | over the past year, outperformed the Hangseng Index. The decision to divest from Sun Art is part of |
| 1:12.7 | Alibaba's broader strategy to streamline its business and concentrate on its core e-commerce operations. |
| 1:20.2 | Alibaba said in a statement that proceeds from the disposal are currently intended to be used |
| 1:25.5 | for business development, shareholder returns, and general |
| 1:29.2 | corporate purposes. Recently, Alibaba also disposed of its stake in another department store chain |
| 1:35.5 | in time for $1 billion. The price of branded prescription drugs will rise in average of 4.5% in 2025, the same increase as we saw in 2024, according to one health care research company. |
| 1:51.6 | At least 250 drugs will see list price hikes in 2025 based on analysis from three-axis advisors at Fisors. |
| 1:59.1 | That's more than 140 drugs pharmaceutical companies said they would |
| 2:02.9 | raise prices on at the end of 2023 for 2024. Reuters reported that Pfizer is increasing the price of |
| 2:10.7 | more than 60 drugs, including its COVID-19 antiviral with a 3% hike. Other drugs are going up between 3 and 5% including well-known |
| 2:20.9 | names like Zeljans. Bristol-Myers Squibb is also raising the price of its carty-cell cancer therapies |
| 2:27.7 | by as much as 9%. Sanofi is boosting the prices of some of its vaccines between 2.9 and 9%. |
| 2:35.9 | But Merck is cutting the prices of two of its diabetes drugs, including metformin. |
... |
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.