Good morning! More wonderful weather on tap here in New York. Here’s the news:
1. Alibaba filed for an IPO last night, and there weren’t many surprises. It’s a strong business. Revenue for nine months ending December 31, 2013, was $US6.5 billion, up 57% year over year. Net income over that same period was $US2.9 billion, up 305% year over year.
2. AOL acquired Converto, a big data tool for online marketers. The price was around $US101 million.
4. For the first time in 10 years, Walmart’s web sales grew faster than Amazon’s.
Amazon is still significantly bigger than Walmart.
6. Twitter’s stock was absolutely smoked yesterday. It fell 17.8%. Yesterday was the first day the lock up period ended for Twitter insiders.
8. Apple supplier TSMC has reportedly started to deliver fingerprint scanning home buttons for the iPad Mini and iPad Air. Those products probably won’t be refreshed until the fall.
9. After the Alibaba IPO, Yahoo will end up with ~$8 billion in cash. Everyone will be watching Marissa Mayer to see what she does with the new money.
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