Chinese Internet Stocks In The Spotlight For All The Wrong Reasons (YOKU, BIDU, DANG, AMZN, CTRP, GA)
Chinese Internet stocks may have their days in the sun and maybe those days will come again, but for now a couple of the group’s more well-known names have black clouds hanging over them and those situations are dragging the Chinese Internet Stocks Index lower by 1%.
Youku.com (YOKU), China’s answer to YouTube, is getting slammed to the tune of 3% after the company reported a loss of 13 cents a share, well below the 3-cent loss analysts were expecting. Revenue nearly tripled to $23 million. Analysts were expecting revenue of $21 million. The profit update was Youku’s first since its late-2010 IPO.
Shares of Baidu (BIDU), China’s largest provider of Internet search services, are lower by 2% after the company was called out by the U.S. Trade Representative for helping sustain counterfeiting and piracy, according to a report by Bloomberg News. Baidu, China’s most visited website, provides “deep linking” to items on sites that are being sold without the copyright holders’ permission, Bloomberg reported, citing the U.S. Trade Representative.
Shares of E-Commerce China Dangdang (DANG), China’s equivalent of Amazon.com (AMZN), are off 3% while Ctrip.com Intl (CTRP) is lower by 2%. Giant Interactive Group (GA) is the top performer in the Index with a gain of 3%.
Investors can track the Chinese Internet Stocks Index for performance trends and a suite of other metrics at tickerspy.com.
More on this topic (What's this?)
Countries are Vulnerable To a China Slowdown: An Update (Top Foreign Stocks, 5/16/13)
How to Make Money in the Internet (Learn Financial Planning, 5/7/13)
Freelance Jobs, Working From Home and Surviving (Dividend Stocks, 5/11/13)
|Home | Find | Research | Track | Register | My Account | Logout||Web site design by LightMix|
|© 2011 Indie research Corp. All rights reserved.|