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Stock Market & Financial Investment News

News Breaks
March 19, 2014
13:25 EDTRENN, YOKU, CYOU, BIDU, NTESChinese 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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November 21, 2014
09:36 EDTBIDUActive equity options trading
Active equity options trading according to Track Data: AAPL AMZN TSLA BIDU CLF DOW LVS BABA TWTR GILD
09:19 EDTYOKUYouku Tudou awarded MVNO license
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November 20, 2014
17:40 EDTRENNRenren sees Q4 revenue down 44.6%-51.1% YoY to $15M-$17M
17:38 EDTRENNRenren reports Q3 revenue $21.6M, consensus $22.76M
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08:23 EDTNTESNetEase.com upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded NetEase.com to Overweight citing expectations for "strong" earnings power.
November 19, 2014
08:46 EDTBIDUBaidu unit gets RMB 1.8B investment from Xiaomi, Marbridge Daily says
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November 17, 2014
08:27 EDTBIDUBaidu rumored to buy payment operator 99Bill, Marbridge Daily says
Baidu has struck a deal to acquire Chinese third-party payment provider 99Bill for RMB 2B, according to TechWeb, reported Marbridge Daily. Reference Link
November 14, 2014
10:00 EDTYOKUOn The Fly: Analyst Downgrade Summary
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10:00 EDTNTESOn The Fly: Analyst Upgrade Summary
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09:24 EDTYOKUYouku Tudou downgraded to Underweight from Neutral at HSBC
09:16 EDTYOKUOn The Fly: Pre-market Movers
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07:01 EDTNTESNetEase.com upgraded at UBS
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06:48 EDTNTESNetEase.com upgraded to Buy from Neutral at UBS
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06:48 EDTNTESNetEase.com upgraded to Overweight from Underweight at HSBC
HSBC upgraded NetEase two notches to Overweight from Underweight based on accelerating revenues for mobile gaming, stabilization in the core PC business, and further monetization of its platform. Price target raised to $114 from $72.
November 13, 2014
17:13 EDTYOKUYouku Tudou sees Q4 revenue RMB1.15B-RMB1.22B, consensus RMB1.21B
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17:10 EDTYOKUYouku Tudou reports Q3 adjusted EPS RMB(50c) , consensus RMB(82c)
Reports Q3 revenue RMB1.11B, consensus RMB1.10B.
15:18 EDTYOKUNotable companies reporting after market close
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14:13 EDTNTESNetEase.com price target raised to $105 from $95 at Oppenheimer
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09:54 EDTBIDUCtrip.com rises 3.7% to $58.81 amid rumor of Baidu interest
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