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Stock Market & Financial Investment News

News Breaks
July 16, 2014
05:59 EDTSOHU, CYOUSohu online game subsidiary Changyou to invest in MoboTap
Sohu.com (SOHU) announced that its online game subsidiary, Changyou.com (CYOU) and MoboTap, a Cayman Islands company that is the mobile technology developer behind the Dolphin Browser, have entered into a definitive investment agreement pursuant to which Changyou will purchase 51% of the equity interests in MoboTap on a fully-diluted basis, for cash consideration of $91M. In addition, Changyou will provide $30M in funding to MoboTap by purchasing a zero-coupon convertible bond due in five years. Changyou will have the option, exercisable at any time when the bond is outstanding, to convert all or any part of the unpaid principal into shares of MoboTap at a conversion price that would result in Changyou's equity interest in MoboTap increasing to 60% on a fully-diluted basis, measured as of the closing under the Investment Agreement, if the option is exercised in full. The transaction is expected to close in August.
News For SOHU;CYOU From The Last 14 Days
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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.com (SOHU) gaining 1.5% to $44, and Qihoo 360 (QIHU) adding 0.5% to $68.50.
October 21, 2014
08:07 EDTSOHURenren rumored to plan sale of video platform to Sohu, Marbridge Daily says
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October 17, 2014
10:16 EDTSOHUHigh option volume stocks
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