Alibaba Lower as it Tops $9 Billion in Sales for 'Singles Day'

Stocks were drifting to new highs on light volume in midday trading Tuesday. Alibaba (BABA) was falling more than 3% as the Chinese e-commerce company topped $9 billion in sales for their made-up 'Singles Day' holiday. The anti-Valentine's Day is now the world's most lucrative online shopping day. American internet shopping companies are rising in the session. Amazon (AMZN) and Groupon (GRPN) are both up better than 1%. Rackspace Hosting (RAX) is a big gainer climbing more than 12%. The company is rising on better-than-expected third quarter profit. The cloud-computing provider also said it will buy back shares. Apple (AAPL) is reportedly getting ready to take over the workplace. According to Reuters, Apple has hired a dedicated sales team to accelerate its expansion into the corporate world.