Tomorrow in Beijing, Trump’s team of negotiators sits down with Xi’s men to discuss trade. Bloomberg reports that China has already stopped buying U.S. soybeans, while ZTE — the Chinese telecom manufacturer that the U.S. has just crippled with sanctions — is preparing to fight back, according to Caixin (paywall). It looks like both sides are set for a long fight.
But some anxious moneymen on Wall Street may have reason to smile later this week. Nasdaq published a note this morning:
China e-commerce leader Alibaba (BABA) reports quarterly earnings before the market open Friday, with expectations of ongoing double-digit growth.
Alibaba Group Holding Limited is expected to report earnings on 05/04/2018 before market open. The report will be for the fiscal Quarter ending March 2018. According to Zacks Investment Research, based on six analysts’ forecasts, the consensus EPS [earnings per share] forecast for the quarter is $0.70. The reported EPS for the same quarter last year was $0.39.
Zacks Equity Research, a firm that produces assessments of listed companies, cites Alibaba’s strength in it “core ecommerce business” and “strong mobile growth,” but gives the company’s shares a “hold” evaluation rather than “strong buy” or “buy.”
But The Street reports that “renowned short-seller Andrew Left and his Citron Research are taking another unpopular opinion,” and betting on Alibaba’s future: “Citron Research believes the most compelling growth story in the market is also the world’s most heavily shorted stock,” according to a statement from the firm.