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Oct. 29, 2014, 4:36 PM
- Baidu (NASDAQ:BIDU): Q3 EPS of RMB11.67 ($1.90) beats by RMB1.84.
- Revenue of RMB13.52B ($2.203B, +52% Y/Y) misses by RMB30M.
- Expects Q4 revenue of RMB13.85B-RMB14.25B ($2.256B-$2.322B) vs. a consensus of RMB14.19B.
- Shares -3.8% AH.
Oct. 28, 2014, 5:35 PM
- ABX, ACGL, ACHC, ACMP, AEGN, AEM, AFOP, AHL, AIZ, AKAM, ALDW, ALL, ANIK, ARAY, ARII, ARRS, ASGN, ATML, AUY, AXS, BGC, BIDU, BLKB, BMR, CACI, CALX, CAR, CATM, CAVM, CBG, CBL, CEMP, CENX, CHDN, CJES, CLD, CLUB, CMO, CNW, CRL, CRUS, CSGP, CSII, CUZ, CW, CWT, DAC, DRE, DRIV, DWA, EQIX, EQY, ESRT, ESV, EXL, EXR, FBHS, FFIV, FISH, FLEX, FLTX, FMC, FNF, FORM, FORR, FR, GLUU, HBI, HOS, HT, IPI, IRG, ISIL, JDSU, KEX, KRFT, KS, LGCY, LNC, LOCK, LOPE, MAA, MANT, MASI, MDAS, MEOH, MET, MOBL, MTGE, MUR, NCLH, NE, NEU, NEWP, NSIT, OII, PDM, PEIX, PGTI, PPC, PRXL, PSMI, PVA, QGEN, QTM, QUIK, RFMD, RGR, RJF, RNG, RRC, RRTS, RST, SCI, SFLY, SGI, SIMO, SLCA, SPN, SPRT, SSNC, SSS, STR, SU, TEX, TFSL, TGB, TGI, THG, TRLA, TTMI, TTWO, UNM, V, VECO, VGR, VPRT, VR, WLL, WMB, WPZ, WSTL, WTW
Oct. 16, 2014, 12:06 PM
- Calling its recent pullback a buying opportunity, Oppenheimer has upgraded Baidu (BIDU +2.6%) to Outperform, and set a $280 target.
- The firm cites Baidu's strong mobile search position - Qihoo has been gaining ground in PC search - and the potential of Baidu's growth initiatives.
- Q3 results arrive on Oct. 29. Shares opened lower, but (along with many Chinese Internet peers) have since rallied. They're up 19% YTD, and go for 25x 2015E EPS.
Oct. 15, 2014, 2:28 PM
- On a day when the Nasdaq is down 1.8% and the S&P 2.2%, many Chinese Internet stocks are rallying. China's lowest CPI print in five years - it helped the Shanghai exchange rise 0.7% overnight - could be playing a role.
- Baidu (BIDU +1.1%), Sohu (SOHU +2.8%), Youku (YOKU +4.9%), Vipshop (VIPS +3%), and Weibo (WB +2.9%) are among the standouts. Others: CMGE +6.1%. MOBI +4.1%. NTES +3.5%. DANG +2.3%. SFUN +1.7%. CCIH +1.7%. BITA +1.5%.
- ETFs: KWEB, CQQQ, QQQC
Oct. 10, 2014, 11:19 AM
- Baidu (BIDU -3.8%) has bought a majority stake in Peixe Urbano, Brazil's largest group-buying/daily deals site. Terms are undisclosed.
- Peixe Urbano claims 20M+ registered users (Brazil's total population is 200M), and 30K+ merchant partners. Its existing management will continue running the company as an independent unit.
- Baidu claims its services are already accessed by 50M+ Brazilian users daily, and has promised to invest R$120M ($50M) in the country over the next 3 years. In July, the company launched a Brazilian search engine (faces tough competition from Google), and unveiled plans for a local R&D center.
- Baidu already owns major Chinese daily deals site Nuomi (acquired from Renren). Shares are selling off on a rough day for tech stocks.
Sep. 29, 2014, 10:22 AM
Sep. 22, 2014, 1:45 PM
- High-beta tech stocks are selling off hard as the Nasdaq registers a 1.3% decline. The selling is broad-based, with Internet, solar, and enterprise tech stocks all well-represented among the ranks of major decliners.
- Major Internet decliners: BIDU -4.7%. ANGI -7%. YELP -5.9%. AWAY -5.1%. CHGG -5.9%. GRUB -5.8%. P -5.2%. Z -4.6%. TRLA -4.8%. ATHM -7.9%. BITA -7%. DANG -5.9%. WB -5.3%.
- Solar: FSLR -4.5%. SCTY -7.5%. SPWR -4.5%. DQ -7.6%. JKS -5.5%. ASTI -6.3%. ENPH -5.5%. CSIQ -4.8%.
- Enterprise: WDAY -5.4%. GIMO -6.7%. VMEM -7.7%. IMPV -4.8%. MKTO -4.9%. SPRT -5.1%. CSOD -5.5%.
- Others: HIMX -4.6%. SIGM -5.6%. WATT -9.7%. CYNI -5.3%. ADNC -5.7%. PXLW -5%. SWIR -5.8%. MITK -6%. OCLR -6%.
Sep. 19, 2014, 12:44 PM
- Whether it's a case of selling on the news, freeing up capital to buy Alibaba shares, or a mixture of the two, a slew of Chinese Internet stocks are selling off as Alibaba (though off its highs) registers a 30%+ post-IPO gain.
- Baidu (BIDU -2.2%) and JD.com (JD -4.5%), both of which rallied yesterday, are among the decliners. Others: QIHU -2.7%. SFUN -3%. EJ -2.7%. YY -2.1%. WB -2.3%. WUBA -6.3%. MOBI -6.4%. CMGE -6.5%.
Sep. 18, 2014, 4:00 PM
- Baidu (BIDU +4.2%) has turned in a strong day ahead of Alibaba's IPO, as have Alibaba rivals JD.com (JD +5.5%) and Vipshop (VIPS +3.4%).
- The Chinese e-commerce giant is set to price its IPO this afternoon, and begin trading tomorrow. CNBC has reported Alibaba will price within its elevated $66-$68 range; at $68, the company would be valued at $167.6B, or more than twice Baidu's $80.1B.
- Previous: Chinese Internet names tumble as Alibaba awaits
Sep. 15, 2014, 1:21 PM
- Maybe looking to raise cash with which to buy Alibaba (Pending:BABA) this week, investors are dumping a wide swath of other Chinese internet names.
- Qihoo (QIHU -2.6%), Sohu.com (SOHU -5.3%), Baidu (BIDU -3.8%), Sina (SINA -4.9%), Renren (RENN -4%), Weibo (WB -11.3%), YY (YY -7.3%).
- Previously: Alibaba to boost IPO size
Sep. 8, 2014, 6:36 AM
- Following heavy scrutiny from China's antitrust regulator, Microsoft (NASDAQ:MSFT) has received another blow in China, losing a top exec to Baidu (NASDAQ:BIDU).
- Zhang Yaqin, Microsoft's vice president and chairman of its Asian-Pacific research and development group, will now depart to become Baidu's president for new business.
- Zhang was a high-profile Microsoft exec involved in the country's emerging R&D scene. He also served on Microsoft's executive management committee, advising on its China strategy.
Sep. 3, 2014, 7:10 PM
- Unlike Google Glass, Baidu Eye has no display. Rather, the head-mounted device analyzes images and other data from a user's surroundings, and transfers the data to a paired smartphone. Baidu (NASDAQ:BIDU) argues the lack of a display both improves battery life and lowers eye strain.
- Eye can recognize objects that are available on e-commerce sites, and then (via the connected smartphone) direct users to the appropriate site. Baidu admits use cases are limited for now, but insists it has "an enormous data set of clothes, bags, and flora."
- Like Glass, Eye is still in beta. Baidu hasn't provided details about pricing or availability.
Aug. 27, 2014, 3:36 AM
- A 5B yaun ($813M) e-commerce joint venture between China's privately-held Dalian Wanda Group, Baidu (NASDAQ:BIDU) and Tencent Holdings (OTCPK:TCEHY, OTCPK:TCTZF) will be announced later this week, Reuters reports.
- The new venture will unite three of China's most powerful non-state companies, and will be 70% owned by Wanda and 15% held by Baidu and Tencent respectively.
- Wanda is a commercial property, luxury hotel and film conglomerate.
Aug. 22, 2014, 7:03 PM
- Ahead of Qihoo's (NYSE:QIHU) Q2 report (due Monday morning), CNZZ estimates Qihoo now has 30.2% of the Chinese search market in terms of page views. That's up sharply from the 16.3% it had a year ago, and suggests Qihoo may have already reached its 30% year-end target.
- Baidu's (NASDAQ:BIDU) share is pegged at 54.5%, down from 67.7% a year ago. Sohu's (NASDAQ:SOHU) Sogou unit is assigned a 12.8% share, up from 9.7% a year ago.
- Two caveats: 1) iResearch has provided higher search share figures for Baidu, and lower ones for Qihoo, than CNZZ. The firm has argued CNZZ's figures paint an incomplete picture due to a heavy reliance on small/medium-sized sites for data. 2) Qihoo's mobile search position is weaker than its PC search position. Baidu, meanwhile, just topped 500M monthly mobile search users.
Aug. 21, 2014, 11:43 AM
- Hedge funds are having a difficult time of it again this year, up 1% vs. a 7.5% gain for the S&P 500, according to Goldman Sachs, which crunched the numbers on 775 funds with $1.9T in AUM.
- Nevertheless, Goldman's list of 50 stocks which "matter most" to hedge funds has outperformed the S&P 500 on a quarterly basis 66% of the time since 2001. The stocks this quarter (posted in order of the number of funds in which a name is a top-10 holding):
- ACT, AAPL, FB, AGN, AAL, GM, TWC, AIG, MSFT, HTZ, CHTR, MU, WMB, LNG, C, DAL, HCA, APC, CBS, ALLY, GOOGL, APD, NRF, BAC, EBAY, LBTYK, PCLN, VRX, BIDU, DTV, DISH, DG, EQIX, MA, WAG, ARCP, GILD, LINTA, MON, FOXA, VC, AMZN, BRK.A, BRK.B, SUNE, CMCSA, JPM, MIC, CCI, HES, LAMR.
- A special call-out to Northstar Realty (NYSE:NRF), Visteon (NYSE:VC), SunEdison (NYSE:SUNE), Macquarie Infrastructure (NYSE:MIC), and Lamar Advertising (NASDAQ:LAMR) for making the list of hedge fund hotels despite their relatively tiny market caps.
Jul. 25, 2014, 5:32 PM
- Goldman has raised its 2014-2016 Baidu (BIDU +10.9%) EPS estimates by 17%-23% following its sizable Q2 EPS beat and above-consensus Q3 guidance, and hiked its target by $35 to $260. BofA/Merrill, Deutsche, and Piper have also raised their Baidu PTs.
- Goldman was pleased with several datapoints provided in the Q2 report and CC (transcript). Among them: 1) Baidu topped 500M mobile search monthly active users (MAUs) in June. 2) Maps MAUs have passed 200M. 3) Baidu's app distribution platforms (led by 91 Wireless) averaged 130M downloads/day in Q2. 4) The Nuomi daily deals unit (acquired from Renren) has seen its user base double since Q4.
- BofA/Merrill observes Baidu's aggressive spending growth is now being fueled more by hiring than by marketing spend, something it expects will translate into future leverage. Marketing spend fell to 11.5% of revenue from 14.1% in Q1, while R&D grew to 14.6% from 13.6%.
- Baidu made fresh highs today, and provided a lift to rivals Qihoo (QIHU +3.7%) and Sohu (SOHU +2.2%) along the way.
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