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Alibaba’s Effect

 (Image source: maosuit.com)

Shares of the Japanese telecommunication company Softbank Corp (TYO:9984) are trading higher today on the back of strong fourth quarter earnings by Alibaba. Softbank owns a 37 percent interest in Alibaba. The Chinese e-commerce conglomerate reported $1.4 billion in net profits and a 66 percent jump in revenue. Alibaba’s stellar performance will trickle down to Softbank big time when the e-commerce giant finally goes public. Current expectations are that Alibaba’s IPO will be one of the biggest in history. Yahoo! Inc. (NASDAQ:YHOO), which holds a large stake in Alibaba is also rallying on the news.