JD.com, Inc. operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry. It also provides online marketplace services for third-party merchants; marketing services; and omni-channel solutions to customers and offline retailers, as well as online healthcare services. In addition, the company develops, owns, and manages its logistics facilities and other real estate properties to support third parties; offers asset management services and integrated service platform; leasing of storage facilities and related management services; and engages in online retail business. Further, it provides integrated data, technology, business, and user management industry solutions to support the digitization of enterprises and institutions; and technology-driven supply chain solutions and logistics services. The company was formerly known as 360buy Jingdong Inc. and changed its name to JD.com, Inc. in January 2014. JD.com, Inc. was incorporated in 2006 and is headquartered in Beijing, the People's Republic of China.

JD.com демонстрирует смешанную фундаментальную картину. С одной стороны, его коэффициенты, такие как P/E (8.86) и P/S (0.27), значительно ниже медианных значений по отрасли, указывая на потенциальную недооцененность акций. Однако, снижение ROE (12.54) и операционных маржей (2.37) по сравнению со средней по отрасли вызывает обеспокоенность о его рентабельности. Долговая нагрузка компании остается низкой (debt/equity 0.19), что является положительным фактором. Тем не менее, отсутствие роста EBITDA и отрицательные значения EPS указывают на возможные проблемы с прибыльностью. Дивидендная доходность на уровне 3.03% показывает стабильность выплат, что может привлечь инвесторов. Несмотря на сильные показатели по выручке и чистой прибыли, тенденции снижения маржи и других ключевых показателей прибыли могут ограничить краткосрочный рост акций JD.com. В целом, текущая оценка компании требует пересмотра на фоне текущих финансовых вызовов.

JD.com, Inc.

Key Points
CoreView Capital Management sold 207,358 shares of KE Holdings
Quarter-end position value decreased by $14.05 million, reflecting both share sales and stock price movement
Transaction size represented 0.45% of CoreView's reportable U.S. equity assets under management (AUM)
Post-trade stake: 3,120,377 shares valued at $49.18 million
KE Holdings now accounts for 6.2% of CoreView's AUM, placing it outside the fund's top five holdings
What happened
According to a February 17, 2026, SEC filing, CoreView Capital Management Ltd sold 207,358 shares of KE Holdings (NYSE:BEKE) in the fourth quarter. The fund’s quarter-end position in KE Holdings was valued at $49.18 million, down $14.05 million from the prior quarter, a change that reflects both trading activity and price movement.
What else to know
CoreView continued to trim its KE Holdings stake, which now stands at 6.2% of 13F AUM
Top holdings after the filing:
NASDAQ: BZ: $192.57 million (24.3% of AUM)
NASDAQ: JD: $177.87 million (22.4% of AUM)
NASDAQ: TCOM: $138.68 million (17.5% of AUM)
NYSE: TAL: $119.98 million (15.1% of AUM)
NYSE: SE: $109.14 million (13.8% of AUM)
As of February 16, 2026, shares were priced at $17.55, down 12.4% over the past year, underperforming the S&P 500 by 24.17 percentage points.
Company overview
Market Capitalization
$19.35 billion
Revenue (TTM)
$103.52 billion
Net Income (TTM)
$3.48 billion
Price (as of market close 2/13/26)
$17.55
Company snapshot
KE Holdings connects buyers, sellers, and agents across China through an integrated online and offline real estate services platform. The company operates at scale in China's real estate services sector, leveraging its Beike platform and multiple branded brokerages to connect buyers, sellers, and service providers. Its strategy combines technology-driven online solutions with a broad offline presence, enabling efficient housing transactions and ancillary services.
The company offers an integrated online and offline platform for housing transactions and services, including existing and new home transactions, home renovation, furnishing, and rental property management.
It generates revenue primarily through real estate brokerage commissions, service fees from housing transactions, and value-added services related to property management and home improvement.
KE Holdings Serves home buyers, sellers, renters, and real estate agents across China, with a focus on both individual consumers and institutional property owners.
What this transaction means for investors
Residential property transactions involve a complex network of buyers, sellers, brokers, and service providers. In China’s housing market, where brokerage activity has historically been fragmented across thousands of agencies, digital platforms now play a central role in organizing listings, connecting brokers, and coordinating housing transaction process.
KE Holdings Inc. operates one of the largest housing transaction platforms in China through its Beike marketplace. The platform connects buyers, sellers, and real estate agents using a combination of online tools and an extensive offline brokerage network. By integrating property listings, agent collaboration, and transaction data into a unified system, KE Holdings functions less like a traditional brokerage firm and more like infrastructure supporting housing transactions across multiple cities.
For investors, the main question is how housing transaction volumes will change as China’s property market goes through different economic and policy cycles. Platforms that bring together listings and broker networks can grow when the market is active, but their success depends on overall property transaction levels. If housing demand stays steady, companies like KE Holdings could keep playing a key role in organizing real estate deals across China.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Sea Limited. The Motley Fool recommends JD.com. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

CoreView Capital Trims KE Holdings as Beike Platform Connects China’s Housing Brokerage Network

JD.com JD reported non-GAAP earnings of 8 cents per ADS in the fourth quarter of 2025, which beat the Zacks Consensus Estimate by 14.29%. In domestic currency, the company reported earnings of RMB0.57, reflecting a 92.3% year-over-year decrease.
It posted fourth-quarter revenues of $50.4 billion. The top line missed the Zacks Consensus Estimate by 0.56%. In domestic currency, revenues of RMB352.3 billion increased 1.5% year over year.
JD.com, Inc. Price, Consensus and EPS Surprise
Revenues by Segments
JD Retail generated net revenues of RMB 301.9 billion ($43.2 billion), down 1.7% year over year. The segment faced headwinds primarily from the electronics and home appliances category, while demonstrating resilience in general merchandise and service revenues.
Net product revenues decreased 2.8% year over year to RMB273.0 billion ($39.0 billion) in the fourth quarter of 2025.
Electronics and home appliances revenues declined 12% year over year to RMB153.3 billion ($21.9 billion), primarily due to a high base effect created by government trade-in subsidies implemented in 2024.
General merchandise revenues grew 12.1% to RMB119.7 billion ($17.1 billion). Within general merchandise, supermarket, fashion and health categories maintained double-digit year-over-year growth during the quarter.
Net service revenues increased 20.1% year over year to RMB79.3 billion ($11.3 billion) in the fourth quarter of 2025.
Marketplace and marketing revenues increased 15.0% year over year. This momentum was driven by accelerated advertising revenues generated by the core retail business, improved ecosystem dynamics and enhanced AI-powered advertising tools.
Logistics and other service revenues grew 23.6% year over year, primarily driven by incremental delivery revenues from the food delivery business.
JD Logistics reported net revenues of RMB63.5 billion ($9.1 billion) in the fourth quarter, representing growth of 21.9% compared with the fourth quarter of 2024. Both internal and external revenues grew at steady paces, with additional contributions from incremental delivery service revenues generated by the food delivery business.
The New Businesses segment generated revenues of RMB14.1 billion ($2.0 billion) in the fourth quarter of 2025, representing a substantial increase of 200.9% from the prior-year period. This significant growth was driven by the continued expansion of JD Food Delivery, Jingxi and international businesses.
JD Food Delivery continued to demonstrate healthy development with steady momentum in order volume and a healthier mix between meal and beverage orders. Total investment in JD Food Delivery narrowed sequentially in the quarter, driven by a focus on user experience, operational efficiency optimization and rational response to industry competition.
Operating Details
Non-GAAP EBITDA was negative RMB 0.8 billion ($0.1 billion) for the fourth quarter of 2025 compared with RMB12.5 billion in the prior-year period. Non-GAAP EBITDA margin compressed to negative 0.2% from positive 3.6% year over year.
Non-GAAP loss from operations was RMB 3.1 billion ($0.4 billion) for the fourth quarter of 2025 compared with non-GAAP income from operations of RMB10.5 billion in the previous year’s quarter. Non-GAAP operating margin was negative 0.9% against positive 3% in the prior-year period, primarily attributable to increased strategic investment in new business initiatives.
Marketing expenses increased 50.6% year over year to RMB25.3 billion ($3.6 billion). As a percentage of net revenues, marketing expenses rose to 7.2% from 4.9%, primarily due to increased spending in promotional efforts for new business initiatives.
Research and development expenses increased 52.0% year over year to RMB6.7 billion ($1 billion). As a percentage of net revenues, research and development expenses increased to 1.9% from 1.3%. General and administrative expenses rose 34.8% year over year to RMB3.3 billion ($0.5 billion). As a percentage of net revenues, general and administrative expenses increased to 0.9% from 0.7%.
User Metrics and Engagement
Quarterly active customers grew 30% year over year in the fourth quarter of 2025, capping a year in which the company exceeded 700 million annual active customers. This growth was powered by organic user growth at JD Retail and further accelerated by new strategic initiatives, including JD Food Delivery and Jingxi. User shopping frequency surged more than 40% year over year for the full year, with broad-based gains across all user groups, including new and existing users as well as Plus members.
Balance Sheet & Cash Flow
As of Dec. 31, 2025, cash, cash equivalents and restricted cash totaled RMB149.6 billion ($21.4 billion), up from RMB125.3 billion as of Sept. 30, 2025. Combined liquid assets (cash, restricted cash and short-term investments) totaled RMB225.4 billion ($32.2 billion) compared to RMB210.5 billion at the end of the third quarter of 2025.
Short-term debts decreased to RMB 8 billion ($1.1 billion) from RMB17.1 billion as of Sept. 30, 2025. Long-term borrowings were pinned at RMB41.7 billion ($6 billion), up from RMB 39 billion in the previous quarter.
Net cash provided by operating activities was RMB 20.9 billion ($3 billion) in the fourth quarter of 2025 compared with RMB 24.9 billion in the fourth quarter of 2024.
Free cash flow generated for the fourth quarter of 2025 was RMB 17.3 billion ($2.5 billion) compared with free cash flow used of RMB 11.2 billion in the third quarter of 2025.
Zacks Rank & Stocks to Consider
JD.com currently carries a Zacks Rank #3 (Hold).
Etsy ETSY, FIGS FIGS and Five Below FIVE are some better-ranked stocks that investors can consider in the broader Zacks Retail-Wholesale sector.
Etsy, FIGS and Five Below sport a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Etsy shares have declined 2.7% in the past six-months. The Zacks Consensus Estimate for Etsy’s 2026 earnings is pegged at $3.51 per share, up by 37.1% over the past 30 days.
FIGS shares have surged 148.5% in the past six-months. The Zacks Consensus Estimate for FIGS’ 2026 earnings is pegged at 19 cents per share, up by 9 cents over the past 30 days.
Five Below shares have surged 46.5% in the past six-months. The Zacks Consensus Estimate for Five Below’s fiscal 2026 earnings is pegged at $ 6.30 per share, up by 2 cents over the past 30 days.
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JD's Q4 Earnings Surpass Estimates, Revenues Increase Y/Y

The following companies are expected to report earnings prior to market open on 03/05/2026. Visit our Earnings Calendar for a full list of expected earnings releases.
Canadian Natural Resources Limited (CNQ)is reporting for the quarter ending December 31, 2025. The oil company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.53. This value represents a 19.70% decrease compared to the same quarter last year. CNQ missed the consensus earnings per share in the 4th calendar quarter of 2024 by -4.35%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for CNQ is 17.79 vs. an industry ratio of 153.00.
Ciena Corporation (CIEN)is reporting for the quarter ending January 31, 2026. The communications company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.89. This value represents a 134.21% increase compared to the same quarter last year. CIEN missed the consensus earnings per share in the 2nd calendar quarter of 2025 by -46.67%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for CIEN is 77.10 vs. an industry ratio of 31.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Kroger Company (KR)is reporting for the quarter ending January 31, 2026. The supermarket company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.20. This value represents a 5.26% increase compared to the same quarter last year. In the past year KR has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 0.96%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for KR is 14.33 vs. an industry ratio of 19.10.
JD.com, Inc. (JD)is reporting for the quarter ending December 31, 2025. The internet company's consensus earnings per share forecast from the 2 analysts that follow the stock is $-0.03. This value represents a 103.09% decrease compared to the same quarter last year. In the past year JD has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 29.41%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for JD is 11.93 vs. an industry ratio of 18.20.
Burlington Stores, Inc. (BURL)is reporting for the quarter ending January 31, 2026. The discount retail company's consensus earnings per share forecast from the 6 analysts that follow the stock is $4.70. This value represents a 15.48% increase compared to the same quarter last year. In the past year BURL has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 13.21%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for BURL is 31.29 vs. an industry ratio of 28.60, implying that they will have a higher earnings growth than their competitors in the same industry.
BJ's Wholesale Club Holdings, Inc. (BJ)is reporting for the quarter ending January 31, 2026. The consumer company's consensus earnings per share forecast from the 11 analysts that follow the stock is $0.93. This value represents a no change for the same quarter last year. In the past year BJ has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 5.45%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for BJ is 22.89 vs. an industry ratio of 21.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Toro Company (TTC)is reporting for the quarter ending January 31, 2026. The tools company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.65. This value represents a no change for the same quarter last year. In the past year TTC has beat the expectations every quarter. The highest one was in the 4th calendar quarter where they beat the consensus by 5.81%. Zacks Investment Research reports that the 2026 Price to Earnings ratio for TTC is 21.60 vs. an industry ratio of 20.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Bilibili Inc. (BILI)is reporting for the quarter ending December 31, 2025. The broadcast (radio/tv) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.17. This value represents a 240.00% increase compared to the same quarter last year. In the past year BILI has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 25%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for BILI is 64.83 vs. an industry ratio of 28.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Victorias Secret & Co. (VSCO)is reporting for the quarter ending January 31, 2026. The retail (shoe) company's consensus earnings per share forecast from the 4 analysts that follow the stock is $2.48. This value represents a 4.62% decrease compared to the same quarter last year. In the past year VSCO has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2026 Price to Earnings ratio for VSCO is 23.09 vs. an industry ratio of 7.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Liquidia Corporation (LQDA)is reporting for the quarter ending December 31, 2025. The biomedical (gene) company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.00. This value represents a 100.00% increase compared to the same quarter last year. Zacks Investment Research reports that the 2025 Price to Earnings ratio for LQDA is -33.10 vs. an industry ratio of -5.80.
Amprius Technologies, Inc. (AMPX)is reporting for the quarter ending December 31, 2025. The technology services company's consensus earnings per share forecast from the 6 analysts that follow the stock is $-0.04. This value represents a 60.00% increase compared to the same quarter last year. In the past year AMPX has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 50%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for AMPX is -55.38 vs. an industry ratio of 0.70.
Global Ship Lease, Inc. (GSL)is reporting for the quarter ending December 31, 2025. The shipping company's consensus earnings per share forecast from the 1 analyst that follows the stock is $2.31. This value represents a 9.41% decrease compared to the same quarter last year. In the past year GSL has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 15.42%. Zacks Investment Research reports that the 2025 Price to Earnings ratio for GSL is 3.92 vs. an industry ratio of 11.40.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Earnings Report for March 5, 2026 : CNQ, CIEN, KR, JD, BURL, BJ, TTC, BILI, VSCO, LQDA, AMPX, GSL

JD.com JD is scheduled to release fourth-quarter 2025 results on March 5.
The Zacks Consensus Estimate for JD’s fourth-quarter revenues is pegged at $50.22 billion, indicating an increase of 5.64% on a year-over-year basis.
The consensus mark for fourth-quarter earnings is pegged at 7 cents per share, unchanged over the past 30 days, indicating a decline of 93.14% from the year-ago quarter's reported figure.
JD beat the Zacks Consensus Estimate for earnings in all the trailing four quarters, with an average surprise of 18.71%.
JD.com, Inc. Price and EPS Surprise
Let us see how things have shaped up for the upcoming announcement.
Key Factors to Note for JD’s Q4 Earnings
JD.com is expected to have carried strong user and commercial momentum into the fourth quarter, building on an expanding active customer base that surpassed 700 million in October 2025 and sustained shopping frequency growth that had been accelerating for several consecutive quarters.
The 11.11 Grand Promotion set a new company record during the quarter, with purchasing customers up 40% year over year and order volume rising by nearly 60% as of November. This performance is expected to have provided a meaningful boost to JD Retail revenues, particularly in general merchandise categories including supermarket, health and fashion, which had been on an accelerating growth trajectory entering the period.
JD Supermarket had announced five strategic initiatives in September focused on products, brands, categories, channels and efficiency, the early impact of which is expected to have supported category performance through the to be reported quarter. Marketplace and marketing revenues are expected to have remained a key contributor to both top-line growth and margin performance, continuing their multi-quarter growth trajectory driven by improving advertiser tools and a deepening merchant ecosystem.
However, the electronics and home appliances category is expected to have continued facing headwinds from a high year-over-year comparison base created by the government trade-in program, an industry-wide challenge the company had been navigating through supply chain collaboration and selective offline store expansion. JD Food Delivery, while continuing to scale and generate synergies with JD Retail, is expected to have kept marketing and fulfillment expenses elevated, likely weighing on consolidated margins during the period.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that is not the exact case here.
JD has an Earnings ESP of 0.00% and a Zacks Rank #3 at present. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies worth considering, as our model indicates that they possess the right combination of factors to exceed earnings expectations in their upcoming releases:
Micron Technology MU has an Earnings ESP of +5.06% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Micron Technology shares have jumped 203.7% in the trailing six-month period. Micron Technology is set to report second-quarter fiscal 2026 results on March 18.
ServiceTitan TTAN has an Earnings ESP of +13.21% and a Zacks Rank #2 at present.
ServiceTitan shares have plunged 24.4% in the trailing six-month period. Service Titan is set to report fourth-quarter fiscal 2026 results on March 12.
Rubrik RBRK presently has an Earnings ESP of +10.00% and a Zacks Rank #3.
Rubrik shares have plunged 37.7% in the trailing six-month period. Rubrik is scheduled to release fourth-quarter fiscal 2026 results on March 12.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

JD Gears Up to Report Q4 Earnings: What's in Store for the Stock?

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Friday, shares of JD.com, Inc. (Symbol: JD) entered into oversold territory, hitting an RSI reading of 29.7, after changing hands as low as $26.40 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 46.1. A bullish investor could look at JD's 29.7 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of JD shares:
Looking at the chart above, JD's low point in its 52 week range is $26.40 per share, with $46.445 as the 52 week high point — that compares with a last trade of $26.53.
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Top Ten Hedge Funds Holding MYMI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

JD.com is Now Oversold (JD)

Investors in JD.com, Inc. (Symbol: JD) saw new options begin trading today, for the March 2027 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 387 days until expiration the newly trading contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the JD options chain for the new March 2027 contracts and identified one put and one call contract of particular interest.
The put contract at the $23.00 strike price has a current bid of $1.85. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $23.00, but will also collect the premium, putting the cost basis of the shares at $21.15 (before broker commissions). To an investor already interested in purchasing shares of JD, that could represent an attractive alternative to paying $27.23/share today.
Because the $23.00 strike represents an approximate 16% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 74%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 8.04% return on the cash commitment, or 7.59% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for JD.com, Inc., and highlighting in green where the $23.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $37.00 strike price has a current bid of $1.59. If an investor was to purchase shares of JD stock at the current price level of $27.23/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $37.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 41.72% if the stock gets called away at the March 2027 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if JD shares really soar, which is why looking at the trailing twelve month trading history for JD.com, Inc., as well as studying the business fundamentals becomes important. Below is a chart showing JD's trailing twelve month trading history, with the $37.00 strike highlighted in red:
Considering the fact that the $37.00 strike represents an approximate 36% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 69%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 5.84% boost of extra return to the investor, or 5.51% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 39%, while the implied volatility in the call contract example is 41%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $27.23) to be 35%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Also see:
Earnings History
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

JD March 2027 Options Begin Trading

Key Points
Sold 147,651 shares of JD.com; estimated trade value $5.16 million based on quarterly average pricing
Quarter-end position value decreased by $5.16 million, reflecting the sale of all shares
Post-trade position: 0 shares; $0 value in JD.com
Previous JD.com position accounted for 1.5% of the fund's AUM as of the prior quarter
On February 4, 2026, Knuff & Co LLC disclosed in a U.S. Securities and Exchange Commission filing that it sold out of JD.com (NASDAQ:JD), liquidating 147,651 shares in a transaction estimated at $5.16 million based on quarterly average pricing.
What Happened
According to a filing with the U.S. Securities and Exchange Commission dated February 4, 2026, Knuff & Co LLC exited its position in JD.com, selling 147,651 shares. The estimated value of the shares sold was $5.16 million, calculated using the average closing price during the filing quarter. The quarter-end value of the position dropped by $5.16 million, reflecting both the sale and changes in market price.
What Else to Know
With the sale, Knuff & Co LLC no longer holds JD.com shares, and the position now represents none of its reportable 13F assets.
Top holdings after the filing:
NASDAQ: AAPL: $43.18 million (12.7% of AUM)
NASDAQ: MSFT: $28.83 million (8.5% of AUM)
NYSE: PG: $19.12 million (5.6% of AUM)
NASDAQ: GOOGL: $16.66 million (4.9% of AUM)
NASDAQ: NFLX: $15.59 million (4.6% of AUM)
As of February 4, 2026, shares of JD.com were priced at $27.55, down 31.1% over the past year, underperforming the S&P 500 by 45.1 percentage points.
Company Overview
Price (as of market close February 4, 2026)
$27.55
Market capitalization
$43.99 billion
Revenue (TTM)
$180.73 billion
Net income (TTM)
$4.88 billion
Company Snapshot
Offers a broad range of products including electronics, home appliances, and general merchandise, and provides online marketplace and logistics services.
Operates a supply chain-driven e-commerce platform, generating revenue from direct sales, third-party marketplace commissions, logistics, and technology services.
Targets individual consumers and third-party merchants primarily within China, with a focus on both retail buyers and enterprise clients.
JD.com is a leading supply chain-based technology and service provider in China, leveraging an extensive logistics infrastructure and digital platform to support large-scale e-commerce operations. The company’s integrated business model combines direct sales with third-party marketplace offerings, enabling efficient product delivery and broad customer reach. JD.com's focus on technology-driven supply chain solutions and logistics services provides a competitive edge in China's rapidly evolving retail sector.
What This Transaction Means For Investors
Knuff & Co, a California-based investment manager, recently disclosed the sale of more than $5 million worth of JD shares during the fourth quarter (the three months ending on Dec. 31, 2025). Here’s what it means for investors.
JD, a Chinese e-commerce provider, is a stock that has been on a steady decline for years. Over the last three years, shares have retreated by nearly 68%, equating to a negative compound annual growth rate (CAGR) of -20.3%. The benchmark S&P 500, meanwhile, has advanced by 91% over the same period, with a CAGR of 13.9%. In other words, JD has massively underperformed in recent years, so it shouldn’t come as a shock that institutional investors, like Knuff, are reducing their exposure to the stock.
For everyday investors who are seeking exposure to the e-commerce market, an exchange-traded fund (ETF) like Global X E-commerce ETF (NASDAQ:EBIZ) might be a better fit. This fund has holdings throughout the e-commerce sector and has delivered better relative performance over the last few years.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Investment Manager Sheds $5.2 Million Worth of JD Shares, According to Latest Filing

Key Points
Sold 373,236 shares of JD.com; estimated transaction value ~$11.67 million (based on quarterly average price)
Quarter-end JD.com position value decreased by $14.03 million, reflecting both trading activity and price change
Remaining stake: 155,104 shares, valued at $4.45 million
JD.com now accounts for 0.56% of fund AUM, placing it outside the fund's top five holdings
Cortland Associates disclosed in a January 28, 2026, SEC filing that it sold 373,236 shares of JD.com (NASDAQ:JD), an estimated $11.67 million transaction based on quarterly average pricing.
What Happened
According to a January 28, 2026, SEC filing, Cortland Associates sold 373,236 shares of JD.com during the fourth quarter, an estimated $11.67 million trade based on the period's average price. The value of the fund’s JD.com position declined by $14.03 million over the quarter, a figure that incorporates both the share sale and stock price changes. The fund now holds 155,104 shares, valued at $4.45 million.
What Else to Know
This was a sale, reducing JD.com’s weight to 0.56% of Cortland Associates’ U.S. equity assets under management.
Top holdings after the filing:
NASDAQ: GOOGL: $74.69 million (9.6% of AUM)
NASDAQ: WTW: $61.40 million (7.9% of AUM)
NYSE: V: $58.72 million (7.6% of AUM)
NYSE: KD: $55.28 million (7.0% of AUM)
NASDAQ: BKNG: $54.02 million (6.8% of AUM)
As of January 27, 2026, shares of JD.com were priced at $29.50, down 24.7% over the past year and underperforming the S&P 500 by 40.76 percentage points.
Company Overview
Revenue (TTM)
$180.73 billion
Net Income (TTM)
$4.88 billion
Dividend Yield
3.37%
Price (as of market close January 27, 2026)
$29.50
Company Snapshot
Offers a wide range of products including computers, consumer electronics, home appliances, general merchandise, pharmaceuticals, and online marketplace services.
Operates a supply chain-driven business model, generating revenue through direct online retail sales, third-party marketplace commissions, logistics, and technology-driven solutions.
Serves consumers and businesses across China, targeting both individual shoppers and enterprise customers seeking integrated digital and logistics solutions.
JD.com is a leading technology-driven e-commerce and supply chain company in China, distinguished by its extensive logistics infrastructure and vertically integrated retail operations. The company leverages proprietary technology and a robust logistics network to deliver a broad selection of products efficiently to customers nationwide. Strategic investments in supply chain digitization and omni-channel services position JD.com as a key player in China's rapidly evolving retail and enterprise solutions landscape.
What This Transaction Means For Investors
Recently, Cortland Associates disclosed in a SEC filing that it sold about $11.7 million worth of JD.com stock during the fourth quarter of 2025 (the three months ending on Dec. 31, 2025). Here’s what average investors need to know.
First, let’s recap how JD has performed in recent years. In short, it hasn’t been great. Shares of JD have declined by about 64% over the last five years. Compare that to the S&P 500, which has advanced by 100% over the same period.
The reasons for this precipitous decline are varied, but the most significant is probably the growing competition for the Chinese e-commerce market. Companies like Alibaba and Pinduoduo have emerged as major competitors for JD, which has put pressure on JD’s margins as it must lower its prices to compete and offer greater incentives to attract consumers and merchants. In addition, JD’s decision to expand into lower margin businesses like food delivery continues to weigh on its overall profit margins.
Lastly, the market is also concerned about the overall health of the Chinese e-commerce market. Growth in the Chinese consumer market has been sluggish, and some investors remain concerned about regulatory risks associated with companies with extensive operations in China.
In short, this transaction by Cortland shouldn’t come as much of a surprise, given JD’s longstanding underperformance relative to the S&P 500. While the company remains a significant player in the e-commerce market, with more than $180 billion in annual revenue and nearly $5 billion in annual net income, investors may be wise to remain cautious with JD stock given its ongoing struggles with increased competition and tight margins.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Cortland Associates Sheds JD Shares Worth $11.7 Million, as Competition Heats Up

Alibaba BABA is facing a growing headwind to revenue growth from its shrinking “All Others” segment despite continued strength in its core businesses. In the second quarter of fiscal 2026, revenues from the “All Others” segment dropped 25% year over year, marking another consecutive quarterly decline and making it the only business unit to contract, while China e-commerce, international commerce and cloud operations delivered solid growth.
The downturn was caused mainly by the disposal of Sun Art and Intime, which automatically reduced reported revenues, along with weaker performance at Cainiao, Alibaba’s logistics arm. Although Freshippo, Alibaba Health and Amap recorded growth, their gains could not make up for the broader slowdown in the segment. As a result, the segment has become a drag rather than a support for consolidated growth.
The impact extends beyond the top line. Losses in the segment widened as Alibaba increased investments in technology and AI-driven initiatives, adding pressure on group profitability. Given that most revenues in this segment come from direct sales and logistics services recorded on a gross basis, margins tend to be thinner and revenue more volatile, amplifying its influence on overall financial results.
The company views these units as long-term innovation platforms tied to AI infrastructure and digital services, yet near-term performance shows they are holding back reported growth. Until Cainiao stabilizes and divestment-related pressures fade, this segment is likely to continue hurting overall revenue growth. This concern is also seen in the Zacks Consensus Estimate, which forecasts only modest revenue growth of 6.2% for fiscal 2026.
Alibaba’s Logistics Business Faces Rising Competition
Alibaba’s logistics arm is facing intensifying competition as JD.com’s JD subsidiary JD Logistics and Amazon’s AMZN Amazon Logistics expand their fulfillment, warehousing and last-mile capabilities, pressuring pricing and delivery speed across key markets.
JD Logistics intensifies competition with Alibaba’s logistics business by leveraging JD.com’s self-owned, end-to-end infrastructure, which prioritizes speed, reliability and service quality over asset-light models. JD.com’s logistics segment’s revenues grew more than 24% year over year in the third quarter of 2025, supported by expanding warehousing, air cargo routes and technology investment. This vertically integrated approach gives JD.com superior control over delivery times, costs and customer experience versus Alibaba’s partner-driven network.
Amazon Logistics has emerged as a formidable competitor to Alibaba’s logistics business by leveraging Amazon’s massive fulfillment network, regionalized warehouses and fastest-ever Prime delivery speeds, including same-day and next-day service at scale. Amazon continues to invest heavily in automation, inventory placement and last-mile infrastructure, improving cost efficiency and reliability. This end-to-end control gives Amazon a clear operational edge over platform-based rivals like Alibaba.
BABA’s Share Price Performance, Valuation & Estimates
BABA shares have gained 40.3% in the past six-month period, outperforming the Zacks Internet – Commerce industry and the Zacks Retail-Wholesale sector’s growth of 2.2% and 5%, respectively.
BABA’s Six-Month Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, BABA stock is currently trading at a forward 12-month Price/Earnings ratio of 20.66X compared with the industry’s 25.02X. BABA has a Value Score of F.
BABA’s Valuation
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for fiscal 2026 earnings is pegged at $6.05 per share, down by 5.2% over the past 30 days and indicating a 32.85% year-over-year decline.
Image Source: Zacks Investment Research
Alibaba currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Is Alibaba's "All Others" Revenues Becoming a Drag on Growth?

For Immediate Release
Chicago, IL – January 9, 2026 – Zacks Equity Research shares Eli Lilly and Co. LLY as the Bull of the Day and JD.com JD as the Bear of the Day. In addition, Zacks Equity Research provides analysis on BigBear.ai Holdings, Inc. BBAI and NVIDIA Corporation NVDA.
Here is a synopsis of all four stocks:
Zacks Rank #1 (Strong Buy) Eli Lilly and Co. is one of the world's largest and most diversified pharmaceutical companies. The Indiana, Indianapolis-based company offers a pharma product category that includes neuroscience (Cymbalta/Emgality), cardiometabolic health (Mounjaro, Zepbound, Trulicity, and others), oncology (Alimta, Cyramza, and Verzenio), immunology (Taltz, Omvoh, and Olumiant), and erectile dysfunction (Cialis).
Lilly has grown and continues to grow its business through key acquisitions, including Hypnion (a neuroscience drug discovery company focused on sleep disorders), CoLucid Pharmaceuticals (which offers acute migraine treatments), Loxo Oncology (which has cancer drugs), and several others. Additionally, Lill has collaboration agreements with several pharma companies, such as Incyte and Roche.
Obesity: The Biggest Blockbuster Drugs Ever
One of the best pieces of advice that an entrepreneur can get is to solve problems. If an entrepreneur can solve a significant problem that a swath of people suffer from, the money will come. In the United States, no bigger problems exist than obesity and the adverse complications that come with it. In fact, according to the National Institute of Health (NIH), nearly 1 in 3 adults (30.7%) are overweight, and more than 2 in 5 adults (42.4%) have obesity.
Mounjaro and Zepbound include the same compound, tirzepatide, a dual GIP and GLP-1 receptor agonist (GIP/GLP-1 RA). The GLP-1 segment is a very important class of drugs for multiple cardiometabolic diseases and is gaining significant popularity. Mounjaro was approved in May 2022 for the treatment of type II diabetes. Zepbound was launched in November 2023 for patients with obesity or overweight with weight-related comorbidities.
Despite being on the market for such a short time, Mounjaro and Zepbound have become key top-line drivers for Lilly, with demand rising rapidly. Mounjaro and Zepbound generated combined sales of $16.5 billion in 2024, accounting for around 36% of the company's total revenues.
Year to date, the drugs generated combined sales of $24.8 billion, comprising around 54% of the company's total revenues. Launches of Mounjaro and Zepbound in new international markets and improved supply from ramped-up production in the United States have led to strong sales growth in 2025. The positive trend is expected to continue in 2026.
Our estimates for Mounjaro and Zepbound suggest a CAGR of 44.6% and 73.7%, respectively, over the next three years. Meanwhile, in addition to Mounjaro and Zepbound, Lilly is investing broadly in obesity and has several new molecules currently in clinical development with a range of oral and injectable medications with different mechanisms of action.
Lilly Inks Obesity Drug Deal with Trump Administration
LLY has inked a deal with the Trump Administration to provide wider access to obesity drugs through the "TrumpRX" platform. The new "BALANCE" program will allow Medicare and Medicaid to cover GLP-1s for obesity with lower co-pays ($50/month) starting in 2027. These incentives should help to drive hot obesity drug sales even further.
New Drugs, Future Pipeline will Continue to Drive Growth
In addition to Mounjaro and Zepbound, Lilly has received approvals for other new drugs in the past couple of years. Omvoh/mirikizumab was approved for its first inflammatory bowel disease (IBD) indication, ulcerative colitis, in the United States, Europe and Japan in 2023 and for its second IBD condition, Crohn's disease, in the United States, Europe, and Japan in 2025. Additionally, Lilly has been building its pipeline and has a wide range of compounds in various stages of development.
Zacks Consensus Analyst Estimates expect robust EPS growth of 41.24% in 2026. LLY, which recently crossed the $1 trillion market cap landmark, will continue to attract institutional investors, as the company has the rare and coveted combination of rapid growth and underlying liquidity.
LLY Bounces off the Rising 10-Week MA
Beyond fundamentals, LLY's price action is also bullish. LLY shares are bouncing off the rising 10-week moving average for the first time since breaking out in late 2025, offering investors a high reward-to-risk entry point.
Bottom Line
Eli Lilly has solidified its position as a global pharma titan. With leading drugs and a massive obesity market, Lilly is poised to be a juggernaut for years to come.
Based in Beijing, Zacks Rank #5 (Strong Sell) stock JD.com one of the largest Chinese e-commerce and technology companies. Also known as Jingdong, JD.com separates itself from the competition by being an essentially vertically integrated e-commerce retailer. JD holds its own inventory, is responsible for its own logistics and deliveries, and provides its own customer service.
JD is similar to Amazon in that it sells a wide variety of products on its e-commerce platform, including clothing, groceries, electronics, and more. Beyond e-commerce, JD also operates health, technology, real estate, and industrial segment businesses. Additionally, JD owns Ochama, a European-based retail brand with operations in the Netherlands France, and Poland.
JD Suffers from Relative Price Weakness Vs. Peers
Legendary growth investor William O'Neil once proclaimed that Wall Street's great paradox is, "Stocks that seem too high in price and risky for most investors usually go higher and stocks that seem low and cheap often go lower." I have largely discovered that more often than not, O'Neil's paradox comes to fruition. That's bad news for JD shares, which trade at $30 and are well off their all-time high of >$100.
Additionally, relative price action can provide investors with valuable clues. Currently, JD shares exhibit troubling relative weakness and are -15.02% over the past year, far underperforming top competitors like Pinduoduo and Alibabawhich are up 20.76% and 83.76% respectively.
JD: Slowing Sales Growth
JD sales growth is declining at an alarming rate. For the current quarter, Zacks Consensus Analyst Estimates suggest that earnings growth will be just 6.68%%. Meanwhile, Zacks Consensus Estimates suggest sluggish annual revenue growth of 5.22% in 2026.
JD Food Delivery Business is a Headwind
JD is making an aggressive play for the Chinese food delivery market. While the number of users for the company's Uber (UBER) Eats or DoorDash (DASH) like business has increased, the segment has produced significant losses thus far. Worse still, the company must invest significant capital to maintain its reputation for fast and reliable delivery in a highly competitive market.
Bottom Line
JD.com currently faces a difficult uphill battle. Between alarming slowdowns in growth and the financial strain of expansion into the competitive food delivery market, JD's "cheap" share price may be warranted.
Additional content:
Is BigBear.ai a NVIDIA-like AI Stock and Top 2026 Buy?
BigBear.ai Holdings, Inc. has strengthened its artificial intelligence (AI) offerings and growth potential through a recent strategic acquisition and a robust cash position. However, a slowdown in revenue growth and rising losses raise questions about whether the stock is a buy now and whether it's too early to call it the next NVIDIA Corporation. Let's take a closer look.
Reasons to Be Bullish on BigBear.ai
BigBear.ai's recent $250 million acquisition of Ask Sage is expected to drive revenue growth by strengthening its footprint in national security, defense and intelligence markets. Ask Sage is a rapidly growing generative AI platform tailored for the defense industry and used by agencies, including Defense Health and the U.S. Space Force.
BigBear.ai's Ask Sage integration has added a secure generative AI workflow to its portfolio, enabling customers to deploy AI while preserving data sovereignty and security. Kevin McAleenan, CEO of BigBear.ai, added that "Ask Sage is already operating at scale in mission-critical environments, and together we are bringing to market a secure, integrated AI platform that unifies data, software, and mission services in one place," as noted in the company's news release.
BigBear.ai's management is optimistic about future sales growth and has already raised full-year 2025 revenue guidance to between $125 million and $140 million, citing ir.bigbear.ai. Additionally, BigBear.ai's solid cash balance of $456.6 million as of Sept. 30, 2025, has provided the company with ample funds to support growth initiatives.
Is BBAI the Next NVIDIA-Like AI Stock & a Top Buy for 2026?
The Ask Sage acquisition, strong cash position and potential boost in government spending from President Trump's "big, beautiful bill" could accelerate BigBear.ai's revenue growth. The company is also moving closer to profitability. It reported third-quarter 2025 net income of $2.5 million, in contrast to the net loss of $15.1 million a year ago, which may encourage stakeholders to hold onto the stock.
However, even if it's anticipated that BigBear.ai will experience an acceleration in revenue growth, its results show a deceleration. BigBear.ai's third-quarter 2025 revenues of $33.1 million fell 20% year over year, following second-quarter 2025 revenues of $32.5 million, which declined 18% year over year. Moreover, the company posted a third-quarter operating loss of $21.9 million, more than double the previous year's figure.
All these factors suggest that it may not be the ideal time for new entrants to place bets on BigBear.ai. Declining sales growth and rising operating losses could hinder the company's growth momentum, making it premature to label BigBear.ai as the "next NVIDIA" in the field of AI.
The Jensen Huang-led company, on the other hand, has been reporting consistent increases in quarterly revenues and earnings, banking on the incessant demand for their next-generation Blackwell chips and CUDA software platform (read more: Top 3 AI Stocks, Including NVIDIA to Buy Now for 2026 Growth).
Currently, BigBear.ai has a Zacks Rank #3 (Hold), while NVIDIA sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 stocks here.
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