Qatar Airways announced that it has acquired a 9.99 percent stake in International Airlines Group or IAG.
Both IAG and Qatar Airways have a close relationship already as part of theoneworld alliance and IAG welcomes Qatar Airways' statement that it would look to strengthen existing commercial ties.
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Alibaba Group Holding (BABA) reported third quarter non-GAAP earnings per share of $0.81 Thursday morning, which beat the consensus estimate of $0.75. Revenues rose 40 percent to $4.22 billion, which was below the consensus estimate of $4.45 billion.
Alibaba gapped open dramatically lower Thursday,...