PGJ

Invesco Golden Dragon China ETF

Alibaba shares surge on AI push, spotlighting ETF plays like ONLN, FNGS, PGJ and NITE. But is there margin pressure?

The quarterly results released on Friday showed sales rising a modest 2% year-over-year to $34.57 billion, but the company’s Cloud Intelligence unit revenue climbed 26%.

Baidu’s digital advertising revenue has been dropping for the past four quarters, and the company is hoping the changes will reengage its user base and reverse the slump.

While China competition remains strong, the firm says June quarter deliveries guidance is stronger with 2025 model year refreshes and brands Onvo and Firefly continuing to ramp, Mizuho said, while adding that it sees Nio as fairly valued.

For the second quarter, Nio expects to deliver between 72,000 and 75,000 vehicles, representing a year-on-year growth of 25.5% to 30.7%.

AI and cloud gains offset ad declines, while adjusted EPS and non-marketing revenue outperformed expectations.

Bloomberg reported that Nio is now set to launch its Firefly brand in Europe between June and August, later than its initial plan of launching the brand in the region in the first half of the year.

In tit-for-tat moves, China announced 34% tariffs on U.S. imports to the country, and the U.S. bumped the additional tariff rate to 84% on Chinese goods.