News Snapshot:
Regulatory change had come sooner than the analysts had anticipated. Greg Baker/AFP via Getty Images Tencent Holdings and Alibaba Group saw their stock jump Tuesday after catching an upgrade by J.P. Morgan analysts. In a research note on Monday, analysts led by Alex Yao turned positive on a slew of internet stocks just weeks after saying the sector was “uninvestible” for the next six to 12 months. Yao and his team raised their ratings on Tencent Holdings (ticker: TCEHY) and Alibaba Group (BABA), and NetEase (NTES) to Overweight, up from Underweight in mid-March. Shares in Alibaba closed up 7% in...
