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Breaking News

  • Friday April 18, 3:39 AM ET
    • China's new-housing inflation weakened to an eight-month low in March, with the average price of new homes in 70 major cities moderating to +7.7% on year from +8.7% in February.
    • On month, housing inflation slipped to 0.2% from 0.3%.
    • Home prices rose on a year-on-year basis in 69 of 70 cities, as in February.
    • The softening in prices reflects the government's attempts to cool the housing sector, although it also adds to concerns about the slowdown in the wider economy.
    • "There are definitely risks in the property market of China's smaller cities," says Standard Chartered's Lan Shen. "The property market will be a big factor that presses the country's economic growth this year."
    • The Shanghai Composite is -0.15%.
    • ETFs: FXI, PGJ, GXC, FXP, YINN, KWEB, CYB, HAO, CNY, ASHR, CHIQ, DSUM, TAO, CHIX, YANG, CQQQ, MCHI, QQQC, PEK, XPP, YAO, CHXX, YXI, FXCH, CHXF, CHII, ECNS, CHIE, CHIM, FCA, KFYP, TCHI, CHLC, CHNA, KBA
    [Global & FX, Top News] Comment!
  • Friday April 18, 3:19 AM ET
    • Russia, Ukraine, the U.S. and the EU have agreed to "de-escalate" the crisis in eastern Ukraine following talks in Geneva.
    • Under the deal, non-government militias have to be dissolved and occupied government buildings vacated, while Ukraine will give amnesty to the protesters and it will start a public consultation to devolve constitutional powers to the provinces.
    • The agreement also promised "additional support" for Ukraine's battered economy.
    • However, the deal left various issues unaddressed such as who would disarm the militias. It also doesn't require Russia to scale back its massive buildup of troops on its border with Ukraine.
    • More on Ukraine
    • ETFs: RSX, RUSL, ERUS, RUSS, RSXJ, RBL, GUR, ESR, RUDR
    [Global & FX, Top News] 3 Comments
  • Friday April 18, 12:00 AM ET
    • U.S. Markets closed
    • Good Friday
    1 Comment
  • Thursday April 17, 6:58 PM ET
    • While U.S. physical retail video game sales have been slumping for some time (as shown by NPD's data), SuperData estimates U.S. digital gaming revenue rose 9% Y/Y in March to $936M.
    • Revenue for subscription titles such as Activision (ATVI +1.2%) cash cow World of Warcraft fell Y/Y, but download and free-to-play revenue rose. Electronic Arts' (EA -0.1%) much-hyped Titanfall delivered the most digital revenue among "boxed" titles.
    • SuperData estimates conversion rates (i.e. the ratio of paying users to total users) for social gaming platforms rose to 2.3% from 1.9% six months earlier. But Zynga (ZNGA +4.4%), which had a Q4 conversion rate of 1.7% and only averages $0.13 per DAU (less than its closest rivals), continues to trail.
    • Zynga rallied today after officially launching FarmVille 2: Country Escape (first announced in March) in the App Store and Google Play. Morgan Stanley praised the game's monetization potential last week.
    • In spite of widespread concerns about slumping Candy Crush Saga (KING -1.3%) usage, SuperData thinks the game is holding up reasonably well for now. It estimates spending rose 1.2% M/M (3 extra days helped), with mobile MAUs rising 0.3% and social (read: Facebook) MAUs falling 2.1%.
    • Other game developers: TTWO, GLUU, KNM, SGAMY
    [Tech] Comment!
  • Thursday April 17, 6:15 PM ET
    • "We're obviously in the throes of what feels like a correction for the small-cap and growth-equity companies," says Revolution Ventures managing partner David Golden.
    • Following a Q1 that saw the highest level of U.S. VC investment since 2001 ($10.7B, up from $9.1B in Q4 and $7.5B a year earlier ), as well as a handful of late-stage deals featuring eye-popping valuations (Airbnb, Dropbox), a rapid selloff in high-beta tech stocks is yielding a sense of caution.
    • Accel Partners' Jim Breyer (an early Facebook investor): "Not a board meeting goes by when at least half the meeting isn't spent on financial strategy." Venrock's Nick Beim: "We all feel like we're at the top of the cycle, and everyone's skating on new ice ... Just how thin the ice is not yet clear."
    • GSV Capital's (GSVC) Michael Moe, whose firm often takes positions in late-stage startups, likes what he sees. "I think prices will get more favorable for buyers because it will be more difficult to do megadeals at megavaluations." The Firsthand Tech Value Fund (SVVC) might also get more favorable terms.
    • Today's tech IPOs - Weibo and Leju - each delivered solid gains, but only did so after pricing their offerings at the low end of their respective ranges.
    [Tech] Comment!
  • Thursday April 17, 6:00 PM ET
    • S&P -0.07%.
    • 10-yr 0%.
    • Euro 0.% vs. dollar.
    • Crude +0.07% to $104.58.
    • Gold +0.01% to $1294.9.
    Comment!
  • Thursday April 17, 5:55 PM ET
    • Duke Energy (DUK) says it incurred ~$15M in costs related to February's coal ash spill in North Carolina, and warns it is not yet able to estimate further costs.
    • DUK says other costs to remediate the spill into the Dan River - possibly including regulatory directives, pending litigation and long-term environmental impact costs - "aren't expected to be material to the company."
    [Energy] 1 Comment
  • Thursday April 17, 5:55 PM ET
    • WesternOne Inc. (WEQIF) declares $0.05/share monthly dividend, in line with previous.
    • Forward yield 7.93%.
    • Payable May 15; for shareholders of record April 30; ex-div April 28.
    [Dividends] Comment!
  • Thursday April 17, 5:47 PM ET
    • Citing telecom industry sources, Globes reports Cellcom (CEL) plans to launch an Israeli pay-TV service in four months. Ahead of the launch, the mobile carrier has expanded an internal trial, and reportedly ordered new HD set-tops.
    • Globes cautions Cellcom continues to insist it won't launch a TV service unless it can obtain lower infrastructure prices from local telecom giant Bezeq (BZQIF). Bezeq, which competes against both Cellcom and Partner Communications (PTNR), will soon be able to offer bundled telecom service plans.
    • The report follows a December quarter in which Cellcom's service revenue fell 13% Y/Y, and its EBITDA 24%, due to intense mobile price competition.
    [Tech] Comment!
  • Thursday April 17, 5:44 PM ET
    [On the Move] 1 Comment
More Breaking News »

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TOP ARTICLES4:01 AM ET FRIDAY APR 18
DIA -0.15%
SPY 0.17%
QQQ 0.09%
ETF Movers
RUSL Direxion Daily Russia Bull 3x Shares ETF 18.07%
RBL SPDR S&P Russia ETF 5.68%

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