🎉 Earnings highlight: Alibaba, JD.com, Lenovo

🛒 Alibaba: Shares were up as much as +4% to HKD 79.10 after the firm reported a revenue miss of 243.2 billion yuan (USD 34 billion) versus the projection for about 249.9 billion yuan. Revenue from Tabao and Tmall dropped a surprise 1%. Its net income plunged 27%, reflecting the heavy cost of attracting and retaining customers. Macquarie's trending call warrant 📌 $Alibaba MB eCW241104 (ULXW.SG)$ (https://warrants.com.sg/tools/livematrix/ULXW) jumped +48.1% to SGD 0.040, a whopping 12 times more than Alibaba's share climb while trending put warrant 📌 $Alibaba MB ePW241203 (47GW.SG)$ (https://warrants.com.sg/tools/livematrix/47GW) dropped -21.4%.

👟 JD.com: Spikes as much as +8.5% this morning to HKD 107.4 leading trending JD call warrant 📌 $JD MB eCW250103 (RYOW.SG)$ (https://warrants.com.sg/tools/livematrix/RYOW) to surge almost 7 times more - +57.1% to SGD 0.033, and trending put warrant 📌 $JD MB ePW241203 (MGCW.SG)$ (https://warrants.com.sg/tools/livematrix/MGCW) to lose 28.3% to SGD 0.038. JD delivered net revenue of 291.4 billion yuan, which was above Bloomberg's estimates of 290.51 billion yean. The company's second quarter profit is its most profitable single quarter, due to a surprising margin surge from JD Logistics, decent margins from JD Retail and strong non-operating profit.

💻 Lenovo: One of the rare underperformers given the broad market rally today, losing as much as -5.9% to HKD 9.43. Macquarie's trending Lenovo call 📌 $Lenovo MB eCW250304 (QNFW.SG)$ (https://warrants.com.sg/tools/livematrix/QNFW) fell 4 times more i.e. -21.4% on the back of this move to SGD 0.011, while trending put 📌 $Lenovo MB ePW250506 (KZYW.SG)$ (https://warrants.com.sg/tools/livematrix/KZYW) climbed +14.7% to SGD 0.039. The share price fall comes despite net income growing 38% to USD 243 million, which was higher than Bloomberg consensus of USD 231 million. There is concern that geopolitical risks, including possible new PC tariffs or chip-export restrictions by US or European regulators, may negatively impact Lenovo's profitability going forward.