Trending Stock to Observe: Alibaba Group Holding Limited, (NYSE:BABA), LyondellBasell Industries, (NYSE:LYB), PACCAR, (NASDAQ:PCAR)

September 25, 2020 Travis Garlick NYSE Stocks, Uncategorized Comments Off

On Thursday, Shares of Alibaba Group Holding Limited (NYSE:BABA), gained 0.23% to $77.87.

Alibaba Group Holding Limited, declared the official launch of its Entrepreneurs Fund for Taiwan, with the objective to support the aspirations of entrepreneurs who wish to take advantage of the resources offered by Alibaba’s ecosystem in e-commerce, logistics, mobile platforms, cloud computing and financial services.

The Taiwan Entrepreneurs Fund is a not-for-profit initiative of Alibaba Group. The mission of the Fund is to assist entrepreneurs realize their dreams and visions for a Taiwan that is vibrant and engaged regionally and globally.

The Fund will invest in qualifying companies in the start-up, growth and expansion phases of the company life cycle. Qualifying businesses will leverage the platforms in the Alibaba ecosystem to offer products and services to Greater China and the world. NT$10 billion has been earmarked for the Taiwan Fund.

Alibaba Group Holding Limited, through its auxiliaries, operates as an online and mobile commerce company in the People’s Republic of China and internationally. It operates Taobao Marketplace, an online shopping destination; Tmall, a third-party platform for brands and retailers; Juhuasuan, a group buying marketplace; Alibaba.com, an online wholesale marketplace; Alitrip, an online travel booking platform; 1688.com, an online wholesale marketplace; and AliExpress, a consumer marketplace.

Shares of LyondellBasell Industries N.V. (NYSE:LYB), declined -1.24% to $93.12, during its last trading session.

LyondellBasell Industries declared that it is advancing plans to build the worlds largest propylene oxide (PO) and tertiary butyl alcohol (TBA) plant in the Houston area. This project, considered to be the largest of its kind, is predictable to create up to 2,500 construction jobs and about 100 permanent positions.

We are moving forward in a deliberate fashion to develop what could become the single largest capital investment in LyondellBasells history, said Chief Executive Officer Bob Patel. We continue to believe that the combination of low-cost natural gas liquids available on the U.S. Gulf Coast, together with our leading proprietary PO/TBA technology, will allow this projected project to capture maximum advantage of market opportunities.

The Company will soon start front-end engineering design work and file environmental permit applications. This phase will also comprise funding to order long lead-time equipment. A final investment decision is predictable to be made following completion of the engineering design work.

LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers. The company operates in five segments: Olefins and Polyolefins Americas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology.

Finally, Shares of PACCAR Inc. (NASDAQ:PCAR), ended its last trade with -0.85% loss, and closed at $51.06.

PACCAR annually recognizes the top performing suppliers in its Supplier Performance Administration (SPM) Program. The SPM program evaluates a supplier’s performance in the areas of product development, operations support and business alignment with PACCAR objectives.

“Quality, Technology and Innovation are cornerstones of PACCAR’s success that enable the company to deliver outstanding products and services to our customers worldwide. Our suppliers play a critical role in each of these areas,” said Bill Jackson, PACCAR Vice President, Global Purchasing. Through the SPM Program, Supplier and PACCAR cross-functional teams collaborate to identify performance enhancements and to develop product innovations. “We appreciate the value created for PACCAR customers through the long term relationships we have with our suppliers. We are happy to recognize and honor our top suppliers that reached the SPM Leader and Achiever Status, the top quartile of PACCAR supplier performance,” said Jackson. For 2015, Rago and Sons, Inc., of Oakland, California achieved the highest SPM score and the leader designation.

PACCAR Inc, together with its auxiliaries, designs, manufactures, and distributes light, medium, and heavy-duty trucks and related aftermarket parts worldwide. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment offers its trucks for use in the over-the-road and off-highway hauling of freight, petroleum, wood products, and construction and other materials to independent dealers under the Kenworth, Peterbilt, and DAF nameplates.

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