Shares of JD.Com Inc (ADR)(NASDAQ:JD) ended Friday session in green amid volatile trading. The shares closed up +0.54 points or 2.05% at $26.84 with 13,020.867 shares getting traded. Post opening the session at $26.32, the shares hit an intraday low of $26.18 and an intraday high of $26.99 and the price vacillated in this range throughout the day. The company has a market cap of $39.53 billion and the numbers of outstanding shares have been calculated to be 2.89 billion shares.
On Sept. 08, 2016 JD.com, Inc. (JD), China’s largest e-commerce company by revenue, and Bacardi, the world’s largest privately held spirit producer, have jointly announced a strategic partnership under which JD.com will become Bacardi’s strategic e-commerce partner for its full line of products in China, marking a significant move to further build Bacardi’s brand and business in the country.
Under the new agreement, Chinese consumers will have online access through JD.com to the most iconic and popular imported spirit brands, including BACARDÍ® rum, GREY GOOSE® vodka, DEWAR’S® blended Scotch whisky, BOMBAY SAPPHIRE® gin, MARTINI® vermouth and sparkling wines, and other leading brands in the Bacardi portfolio.
The cooperation will also include online promotions of Bacardi products available exclusively on JD.com, as well as customized brand marketing support. The two companies will work together to bring China’s cocktail culture to the next level through promotions that educate Chinese consumers on how to prepare and enjoy cocktails prepared with premium Bacardi spirits.
“This strategic cooperation with JD.com is a major step for Bacardi’s e-commerce development in China,” said Paul Chin, Chief Executive Officer of Bacardi Greater China, North Asia and Oceania. “Bacardi’s premium spirits are essential to the world’s favorite cocktails. Working with JD.com helps us effectively target discerning Chinese consumers by providing the most convenient and trustworthy online channel for purchasing premium Bacardi products.”
“We are very excited to deepen our partnership with Bacardi, which has exceptional products and outstanding brand recognition in China,” said Carol Fung, president of JD.com’s Fast-Moving Consumer Goods Business Unit. “As the most trusted e-commerce platform for imported liquor in China, JD.com is increasingly the first choice for China’s upwardly mobile consumers when purchasing spirits. We look forward to leveraging JD.com’s excellent user experience and amazingly fast delivery to further raise consumer awareness of Bacardi’s premium portfolio of spirits.”
Shares of Corning Incorporated (NYSE:GLW) ended Friday session in green amid volatile trading. The shares closed up +0.03 points or 0.13% at $23.14 with 10,115,486 shares getting traded. Post opening the session at $22.95, the shares hit an intraday low of $22.91 and an intraday high of $23.23 and the price vacillated in this range throughout the day. The company has a market cap of $24.02 billion and the numbers of outstanding shares have been calculated to be 1.04 billion shares.
Corning Incorporated (GLW) on JULY 27, 2016 announced its results for the second quarter ended June 30, 2016.
- Q2 GAAP EPS up $2.23 sequentially to $1.87, reflecting a one-time $2.7 billion non-taxable gain on strategic realignment of Dow Corning; core EPS up $0.09, or 32% sequentially, to $0.37; Q2 GAAP and core sales increased sequentially
- Optical Communications sales increased 28% sequentially on strong demand and cable production recovery, exceeding management expectations
- Corporate gross margin exceeded guidance by more than one percentage point, benefiting from higher sales and operational improvements in Optical Communications
- Strategic realignment of Dow Corning Corporation was a significant milestone in focusing Corning`s portfolio, and added $4.8 billion in cash
- Sales and EPS expected to grow both sequentially and on year-over-year basis in Q3
- New $2 billion accelerated share repurchase further advances Strategy and Capital Allocation Framework
“The sequential improvement surpassed our expectations and reflects increasing momentum in our businesses that we expect to continue through the second half of this year. We anticipate both sequential and year-over-year sales and EPS growth in the third quarter,” Wendell P. Weeks, chairman, chief executive officer, and president, said.