Alibaba shares have tough second day on NYSE

Claman on Call: FBN's Cheryl Casone with an after-hours web exclusive on the markets, reports billionaire Carl Icahn has not sold shares of Herbalife, Alibaba's tough second day of trading, Hovnanian Enterprises CEO Ara Hovnanian'... s comments on the housing market and Imax Entertainment CEO Greg Foster's positive outlook for the film industry after its summer box office slump.

Claman on Call: Housing Data Dent Stocks

All three major U.S. indices ended the day in the red as China concerns and weak U.S. housing data sent Wall Street into negative territory Monday. On a day in which homebuilders and social media stocks were hit especially hard, Hovnanian CEO Ara Hovnanian said the numbers are not as bad as they look. He sees “good” buyers entering the housing market, especially in regions like Texas and Silicon Valley.

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Reports that billionaire Carl Ichan was considering selling a portion of his stake in Herbalife (HLF) sent shares of the nutrition and weight management company falling about 10% on the day. But following reporting by FOX Business’s Charlie Gasparino, who confirmed Ichan hasn’t in fact sold any of his stake, Herbalife shares climbed more than 3% after hours.

Coming off the 38% run-up in Alibaba (BABA) shares following its initial public offering last week, the Chinese e-commerce giant had a tough second day of trade. Shares were down about 4% on the day.

While it’s been a disappointing summer for the box office - IMAX Entertainment CEO Greg Foster said with huge hits lined up, he expects the industry to bounce back in the next two years. He also discussed the company's growth in China - which has been a huge source of revenue for IMAX.

What to Watch for Tuesday

At 9:45 a.m., Markit’s purchasing manager’s index is out, which will give a good indication of the real health of the private sector.

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Be sure to check out all of today's interviews on FOXBusiness.com/OnCall and tune into Countdown to the Closing Bell every week day at 3 p.m. ET.

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