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Stock Market & Financial Investment News

News Breaks
March 19, 2014
13:25 EDTBIDU, YOKU, NTES, CYOU, RENNChinese Internet names decline after Renren guidance miss
Shares of Chinese Internet stocks are sinking after one of the names in the sector, Renren (RENN), last night reported higher than expected fourth quarter revenue but provided lower than expected first quarter revenue guidance. WHAT'S NEW: Chinese social network Renren reported Q4 revenue of $30.7M, versus analysts' consensus estimate of $30.15M. Its operating loss, however, came in at $42.6M, versus an operating loss of $22.7M in the same period a year earlier. Its online ad revenue tumbled 18% year-over-year, driven by increased competition and continued migration of user traffic to mobile devices from desktop computers, the company stated. Moreover, the social network provided first quarter revenue guidance of $23M-$25M, versus analysts' consensus estimate of $30.41M. "There are a limited number of players in China that are proactively educating and selling mobile solutions to brand advertisers in China," but Renren has had "some encouraging momentum" in mobile ads," said the company's CEO, Joe Chen, on its earnings conference call. PRICE ACTION: In mid-afternoon trading, search engine Baidu (BIDU) dropped 1% to $162, Internet video company Youku Tudou (YOKU) declined 1% to $30.40, Internet game and portal provider NetEase (NTES) lost 2% to $64.57, online game developer Changyou.com (CYOU) fell 1.4% to $28.50, and Renren tumbled 11% to $3.37.
News For BIDU;YOKU;NTES;CYOU;RENN From The Last 14 Days
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October 24, 2014
14:55 EDTBIDUBaidu weekly volatility elevated into Q3 and outlook
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October 21, 2014
10:00 EDTNTESOn The Fly: Analyst Upgrade Summary
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09:31 EDTNTESNetEase.com upgraded to Outperform from Neutral at Credit Suisse
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08:07 EDTRENNRenren rumored to plan sale of video platform to Sohu, Marbridge Daily says
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October 16, 2014
10:01 EDTBIDUOn The Fly: Analyst Upgrade Summary
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05:50 EDTBIDUBaidu upgraded to Outperform from Perform at Oppenheimer
Oppenheimer upgraded Baidu to Outperform with a $280 price target citing the recent pullback in shares and the company's increasing mobile market share.
October 13, 2014
08:06 EDTYOKUQihoo 360 launches ad exchange platform, Marbridge Daily reports
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