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Stock Market & Financial Investment News

News Breaks
July 24, 2014
10:54 EDTSOHU, CMCM, JMEI, DANG, WB, VIPSChina's Weibo, Jumei advance after Citi starts coverage with Buy ratings
Shares of Chinese microblog Weibo (WB) and Chinese online beauty product retailer Jumei International (JMEI) are rising after Citigroup initiated coverage of both stocks with Buy ratings. WEIBO: Citigroup analyst Thomas Chong initiated coverage of Weibo with a Buy rating, saying that the company has established a solid, popular brand. Moreover, the company's ad revenue should rise as more small and medium businesses look to advertise on the website, Chong wrote. Additionally, Weibo is slated to fully launch a payment system for companies in the second half of 2014 and this system should help the company sell more ads, the analyst forecast. He set a $22.60 price target on the shares. JUMEI: Jumei International has executed well by recommending quality products to its customers and is establishing a trustworthy brand, Chong believes. The company has a loyal customer base of more than 10M and it is likely to shift to selling many more higher margin private label and exclusive products, the analyst stated. He set a $32.60 target on the shares. WHAT'S NOTABLE: Chong also initiated coverage of Chinese Internet companies Sohu.com (SOHU), Dangdang (DANG), Cheetah Mobile (CMCM), and Vipshop (VIPS) with Buy ratings today. Sohu provides online games and a search engine, while Dangdang is an e-commerce company specializing in books. Cheetah Mobile sells applications for the mobile Internet and Vipshop is an online discount retailer. PRICE ACTION: In mid-morning trading, Weibo rose 1.4% to $19.58 and Jumei climbed 5.25% to $29.49.
News For WB;JMEI;SOHU;DANG;CMCM;VIPS From The Last 14 Days
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June 30, 2015
11:12 EDTJMEIJumei upgraded to Buy from Hold at HSBC
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05:34 EDTCMCMCheetah Mobile and Tencent deepen existing strategic cooperation
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June 29, 2015
10:09 EDTSOHUOn The Fly: Analyst Upgrade Summary
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07:04 EDTSOHUSohu.com upgraded to Buy from Neutral at Mizuho
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June 22, 2015
06:07 EDTVIPSVipshop recent weakness a buying opportunity, says Summit Research
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June 19, 2015
08:22 EDTVIPSChina to let foreign companies fully own e-commerce businesses, Reuters reports
China's Ministry of Industry and Information Technology announced that, effective immediately, foreign companies will be allowed to have full ownership of some e-commerce businesses, reported Reuters. Players in China's booming e-commerce market include market leader Alibaba Group (BABA) as well as JD.com (JD), Amazon.com (AMZN), Vipshop (VIPS) Wal-Mart (WMT), which holds a stake in shopping site Yihaodian, the report noted. Reference Link
June 18, 2015
10:03 EDTJMEIJumei up 4.6% in early trading to $26.12 in early trading
Shares of a number of Chinese companies trading in the U.S. have recently received "go private" offers and the move higher in Jumei may be attributed to takeover speculation, according to trading contacts.

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