NEW YORK (TheStreet) -- Alibaba (BABA - Get Report) edged down Tuesday after its Chinese rival NetEase (NTES - Get Report) announced plans to open a North America headquarters. Micron (MU - Get Report) also slumped following a report Samsung (SSNLF) landed a deal to supply Apple (AAPL - Get Report) with a sizable number of DRAM chips. First Solar (FSLR - Get Report) , meanwhile, soared after it acknowledged it was in discussions to form a joint-venture yieldco with SunPower (SPWR - Get Report) .
Alibaba fell 0.91% to close at $84.69, on a day when the broader markets advanced.
The Chinese e-commerce giant is facing greater competition as it seeks to expand in North America. Chinese rival NetEase announced Tuesday it is opening a North America headquarters. Although NetEase plans to focus on mobile games for North American consumers, according to a report in Investor's Business Daily, it wouldn't be surprising to see it test out its e-commerce platform Kaola.com in the region.
Alibaba operates in the U.S. in Silicon Valley from an office in Santa Clara, Calif. That's virtually a stone's throw to NetEase's new North American headquarters in Redwood Shores, Calif.
Micron fell 2% to end the day at $30.77.
The DRAM chip maker took a hit after reports surfaced in a Korean newspaper that Samsung scored a deal to supply roughly half of the A9 dynamic random access memory (DRAM) chips Apple plans to use in its next smartphones, according to a report in AppleInsider.
That deal is believed to be worth billions of dollars, according to the report. That would cut into the action of Apple's other DRAM suppliers includingMicron, Toshiba and SK Hynix.
First Solar soared 10.2% to close at $54.70.
The solar company got a lift after confirming Monday that it was in advanced talks with SunPower to create a joint-venture yieldco. Under such an arrangement, the two companies would launch an initial public offering with the yieldco, notes a report in Forbes.