New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 17, 2014
11:57 EDTQUNRQunar down 2% to $28.35
A Chinese-language report related to a government action involving Qunar may be involved in the share weakness, according to contacts. Reference Link
News For QUNR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
July 27, 2015
11:22 EDTQUNRAnalyst says Chinese Internet firms seeing 'healthy' consumer demand
Chinese Internet stocks are among the many classes of Chinese stocks traded in New York that are weak this morning, though research firm Pacific Crest wrote in a note to investors today that after traveling to China and conducting checks, the firm is more upbeat on e-commerce company 58.com (WUBA), online travel agency Qunar (QUNR) and online video company Youku Tudou (YOKU). WHAT'S NEW: After speaking with Chinese advertising and e-commerce companies, as well as with Chinese companies that are exposed to online services, Pacific Crest analyst Cheng Cheng believes that consumer demand for Internet products and services is "stable and healthy." The decline in the stocks of Chinese Internet companies has created buying opportunities, Cheng believes. He identified 58.com and Qunar as his favorite picks in the sector heading into second quarter results. Both stocks have declined about 20% over the last 1-2 months, but the core businesses of both companies are accelerating, the analyst stated. Specifically, most of 58.com's end markets "are showing strong or at least healthy underlying demand," while Qunar is poised to benefit from an acceleration of demand for its hotel rooms, the analyst believes. Meanwhile, Youku is benefiting from strong demand from advertisers, wrote Cheng, who kept Overweight ratings on 58.com and Qunar and maintained a Sector Weight rating on Youku. WHAT'S NOTABLE: Cheng added that he remains "positively biased" towards Baidu (BIDU) and Alibaba (BABA). Baidu is slated to report its second quarter results tonight. He kept Overweight ratings on both stocks. PRICE ACTION: In late morning trading, 58.com slid 4.6% to $62, Qunar retreated 5.7% to $40.65 and Youku fell 4.7% to $19.20 amid broad weakness in Chinese stocks trading in New York after China's home Shanghai composite index fell 8.5% overnight.
08:43 EDTQUNRChina Internet consumer demand stable, healthy, says Pacific Crest
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use