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Stock Market & Financial Investment News

News Breaks
July 24, 2014
10:54 EDTCMCM, JMEI, DANG, WB, VIPS, SOHUChina'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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July 30, 2015
07:26 EDTDANGDangdang Special Committee retains financial advisor and legal counsel
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July 27, 2015
14:25 EDTSOHUSohu.com sales missed when excluding Webgame, says Summit Research
Summit Research analyst Henry Guo says Sohu.com's sales in Q2 missed expectations when excluding the Webgame business, which was not included in guidance and will be divested in Q3. The "relatively soft" Q3 guidance is mainly due to gaming business uncertainty and early stage of mobile portal initiatives, Guo tells investors in a post-earnings research note. He keeps a Hold rating on Sohu.com with a $50 price target, but thinks the Sogou initial public offering is likely this year and could help unlock value.
09:21 EDTSOHUOn 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...
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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July 24, 2015
13:12 EDTSOHUSohu.com technical notes ahead of earnings news
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July 22, 2015
06:24 EDTJMEIJumei announces strategic investment in BabyTree
Jumei announced that it has agreed to provide BabyTree with a convertible loan and a revolving credit facility of up to $250M. The principal of the convertible loan portion of the transaction could reach as high as $120M depending on the working capital needs of BabyTree and certain operating performance criteria being met. The loan will be convertible into a minority interest in BabyTree based on a pre-agreed formula. The revolving credit facility will be $130M, and drawdown by BabyTree will also depend on the working capital needs of BabyTree and certain operating performance criteria being met.
July 21, 2015
09:34 EDTVIPSVipshop Q2 revenues tracking below consensus, says ITG Research
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