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August 30, 2013
10:05 EDTJOY, SPLS, VOD, NTES, DANG, SOHU, YOKU, OVTIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Joy Global (JOY) downgraded to Hold from Buy at BB&T... Staples (SPLS) downgraded to Neutral from Overweight at JPMorgan... Vodafone (VOD) downgraded to Neutral from Outperform at RW Baird... (NTES) downgraded to Neutral from Overweight at JPMorgan... Dangdang (DANG) downgraded to Underweight from Neutral at JPMorgan... (SOHU) downgraded to Neutral from Overweight at JPMorgan... Youku Tudou (YOKU) downgraded to Neutral from Overweight at JPMorgan... OmniVision (OVTI) downgraded to Hold from Buy at Craig-Hallum.
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October 30, 2014
10:52 EDTSOHUBaidu 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) gaining 1.5% to $44, and Qihoo 360 (QIHU) adding 0.5% to $68.50.
05:44 EDTYOKUYouku Tudou, Alibaba announce big data marketing collaboration
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October 29, 2014
07:44 EDTDANGDangdang coverage assumed with an Equal Weight at Morgan Stanley
Price target lowered to $12 from $15.50.
October 28, 2014
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 26, 2014
18:59 EDTVODVodafone's Ono acquisition tainted by tax fraud claims, Telegraph says
Britian's Vodafone and Spanish authorities have begun an investigation into allegations of tax fraud at the Spanish cable operator Grupo Corporativo Ono that Vodafone purchased in July for GBP6B, says the Telegraph. Reference Link
October 24, 2014
09:36 EDTVODActive equity options trading on open
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08:53 EDTVODVodafone rumored to prepare bid for TalkTalk, Daily Mail says
Rumors have circulated among U.K. trading desks that Vodafone is lining up a cash bid worth GBP4.3B for TalkTalk Telecom, according to The Daily Mail's "This is Money." Shares of Vodafone trading in New York are up over 2% in the pre-market session following the report. Reference Link
October 21, 2014
10:00 EDTNTESOn The Fly: Analyst Upgrade Summary
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09:31 upgraded to Outperform from Neutral at Credit Suisse
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08:07 EDTSOHURenren rumored to plan sale of video platform to Sohu, Marbridge Daily says
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06:22 EDTSPLSStaples may be latest retailer to be hacked, Krebs reports
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October 20, 2014
10:24 EDTSPLSStaples and Cynthia Rowley announce exclusive collaboration
Staples and designer Cynthia Rowley announce an exclusive work and home office collection that incorporates designs into everyday work and home spaces. Beginning mid-November, Staples stores nationwide will debut the exclusive Cynthia Rowley Collection.
09:36 EDTVODActive equity options trading on open
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October 17, 2014
10:16 EDTSOHUHigh option volume stocks
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