BRIEF-Rocket Internet to sell its remaining 8.8% stake in Lazada to Alibaba for $276 mln
* DGAP-NEWS: ROCKET INTERNET SE: ROCKET INTERNET TO SELL ITS REMAINING 8.8% STAKE IN LAZADA TO ALIBABA
Earnings are front-and-center in HK/China as large-caps see significant moves even though the Hang Seng appears little changed following Wednesday's typhoon-related market holiday. Here's what's moving beyond the indexes:
** Tencent Holdings : -4.4%, earnings miss after big run-up sees stock as top loser on the Hang Seng. Tencent shares had seen the biggest 1-month run-up to earnings in 4 years. link.reuters.com/mut32v. Still, CICC has note out with HK$500 price target.
** Li & Fung : +8.2%, one of the heaviest borrowed stocks in Hong Kong sees a big bounce after saying worst is over in interim results announcement and slew of broker upgrades.
** Cathay Pacific : -1.8%, weak results as currencies and cargo hurt.
** Brilliance China : +11.3%, resilient profit margins and the first dividend since 2005 vaults the stock to a record high. (Stocks Buzz is a pilot project. Please send any feedback or suggestions to email@example.com) (RM: firstname.lastname@example.org)
AMSTERDAM, June 28 Dutch healthcare company Philips has agreed to buy U.S.-based Spectranetics Corp , a maker of devices to treat heart disease, for 1.9 billion euros ($2.16 billion) including debt, as it expands its image-guided therapy business.