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February 4, 2013
10:35 EDTYOKUChina's Youku Tudou slides after Maxim cuts rating to Sell
Chinese Internet video company Youku Tudou (YOKU) is sinking after Maxim Group analyst Echo He lowered her rating on the stock to Sell from Hold in a note to investors earlier today. Youku Tudou was formed by a merger between former competitors Youku and Tudou. The integration of Tudou may cause Youku's margins to fall, and will likely increase Youku's content costs by about 50% in 2013, the analyst believes. The combined company continues to face tough competition, and its profitability in coming years is likely to be lower than expected, He added. In mid-morning trading, Youku Tudou tumbled $1.12, or 4.82%, to $22.08.
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