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Alibaba off to strong start; gains 38% on first day of trading
New York – Chinese e-commerce giant Alibaba Group Holding Ltd. on Friday closed its first day of trading on the New York Stock Exchange with its shares up 38% from its I.P.O., closing at $93.89.
The stock opened for trade on Friday at $92.70 shortly, a 36% jump above its initial public offering price of $68 a share. More than 100 million shares changed hands in composite trading in the first 10 minutes of trading.
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PayPal releases PayPal Here for Android tablets
San Jose, Calif. – PayPal has released a version of its PayPal Here mobile payment card acceptance app and reader that is compliant with most major Android tablets. The PayPal Here service itself had previously been available for Android smartphones, but not tablets.
The release primarily allows users of tablet-sized Android devices to now use PayPal Here to accept card payments. There are no major new features.