Seeking Alpha

Chinese Internet stocks surge as good earnings reports pour in

  • Over the last 48 hours, Baidu, Dangdang, Youku, and 58.com have all posted Q4 beats and provided strong Q1 guidance. The numbers are giving a lift to a slew of Chinese Internet stocks.
  • Notable gainers: SOHU +6.5%. PWRD +13.2%. VIPS +4.3%. YY +2.2%. RENN +3.8%. GOMO +5.5%.
  • In Sohu's case, the rumor mill might also be helping out. A source tells Marbridge Consulting Sohu CEO Charles Zhang and Tencent (TCEHY +1.2%) CEO Pony Ma have talked about merging their companies' online video units. Both Sohu and Tencent trail market leaders Youku and Baidu in China's burgeoning online video market.
  • Dangdang (DANG +8.6%) is adding to yesterday's big post-earnings gains after Oppenheimer hiked its PT to $15. The firm likes Dangdang's improved efficiency and partnerships with e-commerce rivals (inc. Alibaba's Tmall), and the fact mobile accounted for 13% of Q4 orders.
Comments (2)
  • TitanInvestor
    , contributor
    Comments (223) | Send Message
     
    Not surprised about Tencent/SOHU news. Tencent already invested in Sogou, so its a nobrainer to merge Sohu Video.
    1 Mar 2014, 01:35 PM Reply Like
  • www2280
    , contributor
    Comments (529) | Send Message
     
    Today Tencent agreed to buy 16 percent shares of JD, and give Tecent's e-commerce to JD.
    7 Mar 2014, 09:22 AM Reply Like
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