Shares in Alibaba (BABA) jumped around 10% after the e commerce giant reported fourth quarter results that beat analyst estimates. Revenue was up 45% to $2.81B and earnings beat Wall Street estimates, coming in at $0.48 per share. The company announced on Thursday that Chief Operating Officer Daniel Zhang will take over the CEO position from Jonathan Lu. Chairman Jack Ma also unveiled a further management shuffle that brings in a wave of younger leaders. Alibaba saw a jump in mobile transactions this quarter, with users up 77%. The online retailer has faced pressure from the Chinese government in recent months to crack down on the sale of counterfeit goods. The stock also took a hit after Ma announced a hiring freeze for the rest of 2015.
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