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Stock Market & Financial Investment News

News Breaks
December 4, 2012
11:06 EDTYOKU, NTES, SINA, PWRD, SOHU, CYOU, BIDUChinese Internet stocks fall after SEC charges accounting firms
Chinese Internet stocks are sinking after the SEC charged the Chinese subsidiaries of the four major U.S. accounting firms with violating securities laws for refusing to produce paperwork connected to fraud at nine Chinese companies, according to The Financial Times. The SEC may have created a "Catch 22" situation for Chinese companies listed in the U.S., as Chinese law prevent the companies from sharing audit documents with foreign companies, the newspaper noted. In a note to investors earlier today, Wells Fargo analyst Trace Urdan wrote that delisting may be "economically prudent" for some Chinese companies. In mid-morning trading, SINA (SINA) fell 6.38% to $42.55, BIDU (BIDU) dropped 4.75% to $91.35, Sohu.com (SOHU) slid 3.18% to $38.32, NetEase (NTES) gave back 3.94% to $42.00, Changyou.com (CYOU) lost 1.50% to $24.37, Youku Tudou (YOKU) declined $1.19, or 7.18% to $15.38 and Perfect World (PWRD) dropped 3.10% to $10.78.
News For SINA;BIDU;SOHU;NTES;CYOU;PWRD;YOKU From The Last 14 Days
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July 27, 2015
12:03 EDTBIDUOn The Fly: Top stock stories at midday
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11:22 EDTBIDU, YOKUAnalyst 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.
09:36 EDTBIDUActive equity options trading on open
Active equity options trading on open: AAPL NFLX INTC MU VZ BIDU AMBA
09:21 EDTSOHU, CYOUOn The Fly: Pre-market Movers
HIGHER: Magnetek (MAG), up 53.5% after Columbus McKinnon (CMCO) agrees to acquire the company... Xueda Education (XUE), up 40.6% after merging with Xiamen Insight Investment... Box (BOX), up 4.6% after being upgraded to Overweight from Sector Weight at Pacific Crest... Goodrich Petroleum (GDP), up 6.4% after announcing sale of proved reserves and a portion of Eagle Ford leasehold. NOTABLE: Teva Pharmaceutical (TEVA), up 10.7% after acquiring Allergan Generics... Allergan (AGN) is up 6.3%... Mylan (MYL), down 14% after Teva withdraws proposal to acquire the company... Perrigo (PRGO), up 3% after Teva withdraws proposal to acquire Mylan. DOWN AFTER EARNINGS: Sohu.com (SOHU), down 6%... Changyou.com (CYOU), down 10.1%. ALSO LOWER: Bellerophon (BLPH) down 63% after announcing results of BCM clinical trial... Terex (TEX), down 4% after being downgraded to Sell from Neutral at Goldman... Ultragenyx Pharmaceutical (RARE), down 3.5% after being downgraded to Equal Weight from Overweight at Morgan Stanley...
08:43 EDTYOKUChina Internet consumer demand stable, healthy, says Pacific Crest
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05:35 EDTSOHUSohu.com sees Q3 EPS (55c)-(80c), consensus (39c)
Sees Q3 revenue $470M-$500M, consensus $530.17M.
05:34 EDTSOHUSohu.com reports Q2 adjusted EPS (37c), may not compare to consensus (80c)
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05:32 EDTCYOUChangyou.com sees Q3 EPS 64c-73c, consensus 65c
Sees Q3 revenue $172M-$182M, consensus $204.63M.
05:31 EDTCYOUChangyou.com reports Q2 EPS 95c, consensus 66c
Reports Q2 revenue $202.15MM, consensus $189.92M.
July 26, 2015
19:22 EDTBIDUBaidu CEO 'still interested' in Nokia map unit, Re/code says
In a Re/code interview published Friday afternoon, Baidu (BIDU) CEO Robin Li remarked that the company is "still interested" in Nokia's (NOK) HERE mapping unit. When asked about potential partners, Li commented, "I cannot say too much about it because itís not a done deal." Note that earlier media reports have suggested Nokia is or was leaning towards selling HERE to a group of German luxury car makers including Daimler (DDAIF), BMW (BAMXY), and Volkswagen's (VLKAY) Audi (AUDVF). Reference Link
July 24, 2015
13:34 EDTBIDUBaidu volatility elevated into Q2 and outlook
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13:12 EDTSOHUSohu.com technical notes ahead of earnings news
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09:26 EDTBIDUBaidu Q2 results likely to be positive catalyst, says Pacific Crest
Pacific Crest believes that Baidu's increased disclosures about its segments could enable investors to learn more about its core search business, creating a positive surprise. The firm thinks the stock's valuation is "very attractive," and it keeps an Overweight rating.
July 22, 2015
06:15 EDTBIDUBaidu should be bought ahead of earnings, says Summit Research
Summit Research analyst Henry Guo recommends buying shares of Baidu ahead of the company's Q2 results on July 27. Baidu's revenue should top consensus and strength in both the iQiyi and Nuomi businesses should lead the Q3 outlook above street expectations, the analyst tells investors in a research note. He keeps a Buy rating on the stock with a $256 price target.
July 20, 2015
08:02 EDTPWRDPerfect World to host special shareholder meeting
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July 16, 2015
05:26 EDTPWRDPerfect World reports ISS, Glass Lewis recommend holders vote FOR going private
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July 15, 2015
11:30 EDTYOKUYouku Tudou mentioned positively by Agora Financial
10:01 EDTSINAOn The Fly: Analyst Downgrade Summary
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09:23 EDTSINAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Bank of America (BAC), up 2.9%... CSX (CSX), up 2.6%. ALSO HIGHER: Hertz (HTZ), up 3.9% after being upgraded to Buy from Hold at Deutsche Bank. NOTABLE: Receptos (RCPT), up 10.5% following deal to be acquired by Celgene (CELG)... Celgene is up 7.9% after announcing acquisition of Receptos... UP AFTER RECEPTOS/CELGENE DEAL: ZIOPHARM Oncology (ZIOP), up 1.7%... Arena Pharmaceuticals (ARNA), up 6.5%. DOWN AFTER EARNINGS: Delta Air Lines (DAL), down 2.4%. ALSO LOWER: Mead Johnson (MJN), down 4.8% after reducing fiscal 2015 EPS guidance... Columbia Pipeline Partners (CPPL), down 5.6% after 4.64M share Block Trade priced at $24.15... SINA (SINA), down 2.7% after being downgraded to Hold from Buy at Deutsche Bank... MacroGenics (MGNX), down 2.8% after 3.25M share Secondary priced at $37.00.
06:49 EDTSINASINA downgraded to Hold from Buy at Deutsche Bank
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