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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 30, 2014
14:32 EDTNTESNetEase.com downgraded to Hold from Buy at Standpoint Research
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10:52 EDTBIDU, RENNBaidu rises after profits beat expectations
Chinese Internet search engine Baidu (BIDU) is climbing after the company reported higher than expected profits and in-line revenue. WHAT'S NEW: Baidu reported third quarter earnings per share, excluding certain items, of $1.90, versus analysts' consensus outlook of $1.69. The company's revenue came in at $2.2B, in-line with the consensus outlook. Baidu provided Q4 revenue guidance of $2.26B-$2.32B, versus the consensus outlook of $2.3B. Last quarter, Baidu had more traffic from mobile devices than PCs, and mobile traffic generated 36% of its revenue, the company noted. "In the third quarter, our investments in mobile continued to pay off as mobile proved once again to be a strong driver of topline growth," said Baidu CFO Jennifer Li. ANALYST REACTION: Baidu's investment in mobile is starting to pay off, agreed Piper Jaffray analyst Gene Munster in a note to investors today. Additionally, the impact to Baidu from its investments in mobile appear not to have been as drastic as previously thought, and the company remains "essentially unchallenged" in the Chinese search market, wrote the analyst. He raised his price target on the shares to $267 from $222 and kept an Overweight rating on the stock. Meanwhile, research firm Stifel Nicolaus reported that the company's gross margin was about 1.5 percentage points ahead of expectations in Q3. Baidu is on track to generate about 65% of its queries from mobile devices in a year, at which point it may significantly increase the prices it charges for mobile search ads, the firm stated, adding that the company's innovation in mobile has been strong. Stifel has a $250 price target and Buy rating on the shares. PRICE ACTION: In mid-morning trading, Baidu rose 4% to $224. Other Chinese Internet names also rose, with Weibo (WB) adding 1% to $18, Renren (RENN) rising 1% to $3.45, Sohu.com (SOHU) gaining 1.5% to $44, and Qihoo 360 (QIHU) adding 0.5% to $68.50.
09:59 EDTBIDUBaidu price target raised to $267 from $222 at Piper Jaffray
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07:16 EDTBIDUBaidu viewed as core holding in China Internet space, says Brean Capital
Brean Capital reiterates Baidu as a core holding in the China Internet space following its Q3 results, citing the company's leadership position in mobile search, its operating leverage from robust revenue growth, and its attractive risk/reward profile. Brean Capital maintains its Buy rating and $275 price target on Baidu shares.
05:44 EDTYOKUYouku Tudou, Alibaba announce big data marketing collaboration
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October 29, 2014
16:37 EDTBIDUBaidu sees Q4 revenue $2.26B-$2.32B, consensus $2.3B
16:36 EDTBIDUBaidu reports Q3 EPS ex-items $1.90, consensus $1.69
Reports Q3 revenue $2.2B, consensus $2.22B. Traffic acquisition cost, or TAC, as a component of cost of revenues was $283.8M, representing 12.9% of total revenues, as compared to 11.7% in the corresponding period in 2013 and 12.7% in Q2. The increase reflects increased contribution of contextual ads, mobile and promotion of hao123.
14:21 EDTBIDUBaidu October weekly 225 straddle priced for 6% move into Q3
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October 28, 2014
09:14 EDTBIDUBaidu named a long Research Tactical Idea at Morgan Stanley
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06:50 EDTYOKUYouku Tudou to produce original content with Western companies, Bloomberg says
Chinese Internet video website Youku Tudou intends to collaborate with U.S. and European entertainment companies to produce original content, the company's chairman said, according to Bloomberg. Youku's decision to produce new content with Western companies comes after Chinese regulators limited the amount of imported content the company could show, the news service noted. Reference Link
06:02 EDTYOKU'Big Brother' set to air in China on Youku internet platform, Variety reports
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October 27, 2014
15:38 EDTBIDUBaidu weekly volatility elevated into Q3 and outlook
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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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