Chinese e-commerce giant, Alibaba Group Holding Limited (NYSE:BABA) aims to invest $200M in Snapchat Inc. at a wroth of $15B, as per reported by Bloomberg. By means of the previous contract, Snapchat would be ranked behind merely mobile car-booking application Uber Technologies Inc. as well as Chinese smartphone maker Xiaomi Corp. Xiaomi is pegged at $45B, at the same time as Uber’s latest round worth it at $40B. Snapchat was reportedly in discussions last month to raise $500 million in a round of financing that could value the company at $16 billion to $19 billion. Shares of Alibaba Group Holding Limited (NYSE:BABA) opened at $82.10 with 2487.31 million outstanding shares and hit to its highest price of $82.90 during the day and finally closed at $81.92 by scoring -0.09%.
Synta Pharmaceuticals Corp. (NASDAQ:SNTA) declared that a Q4 net loss of $20.35M or $0.19 a share, as compared to a loss of $24.16M or $0.31 a share, last year. The five analysts polled by Thomson Reuters On average antedated the firm to report a loss per share of $0.21 for the quarter. Analysts’ estimates typically exclude special items. There were no revenues recognized in the fourth quarters of 2014 and 2013. Research and development expenses were $15.7 million, compared to $20.0 million, last year. On the other consideration, Synta Pharmaceuticals Corp. (NASDAQ:SNTA) begun last trade with a price of $2.61 and throughout the trading session climbed at $2.61. The day-trade ended with a loss of -4.45% to closed at $2.36.
Burger chain, Shake Shack Inc. (NYSE:SHAK) declared that its loss for the fourth quarter as compared to a profit previous year, despite strong revenue growth, shiny lower operating margins amid higher costs. CEO Randy Garutti stated in a statement that they are pleased with the strength of their Q4 results and excited to begin their journey as a public company. Our culture of Enlightened Hospitality has enabled Shake Shack to become a globally beloved brand where all of their stakeholders are rooting for their success. Shake Shack Inc. (NYSE:SHAK) stock hit highest price at $49.60, beginning with a price of $43.24 to the closed at 47.79 by a gain of 1.90% with a day range of $42.08-$49.60. The total market capitalization remained 540.41 Million, total volume of 2.86 Million shares held in the session was surprisingly higher than its average volume of 1301.00 shares.