Yahoo! Inc. (NASDAQ:YHOO) just lost approximately $4 billion in market capitalization in sympathy with Alibaba Group Holding Ltd (NYSE:BABA). Alibaba is trading 10% lower after the Chinese e-commerce giant missed revenues estimates. Alibaba reported earnings for the third quarter of its fiscal year 2015 (3QFY15) before markets opened, and the stock fell sharply after the company missed revenues estimates. Alibaba reported revenues of $4.26 billion; the Street had expected $4.42 billion.
Yahoo! Inc. (NASDAQ:YHOO) just lost approximately $4 billion in market capitalization in sympathy with Alibaba Group Holding Ltd (NYSE:BABA). Alibaba is trading 10% lower after the Chinese e-commerce giant missed revenues estimates. Alibaba reported earnings for the third quarter of its fiscal year 2015 (3QFY15) before markets opened, and the stock fell sharply after the company missed revenues estimates. Alibaba reported revenues of $4.26 billion; the Street had expected $4.42 billion.
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