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500.com Limited (WBAI)

- NYSE
  • Yesterday, 3:12 PM
    • Today's notable tech gainers include next-gen firewall leader Palo Alto Networks (PANW +3.5%), touchscreen tech developer UniPixel (UNXL +5.9%), solar microinverter leader Enphase (ENPH +5.8%), optical transport/switching hardware vendor Infinera (INFN +3.8%), telecom service/analytics provider Neustar (NSR +4.4%), and Chinese online classifieds leader 58.com (WUBA +4%). The Nasdaq is up 0.3%
    • There are relatively few major decliners today. The group includes Infinera rival Ciena (CIEN -4.5%), Chinese sports lottery site 500.com (WBAI -5.3%), and Chinese online video leader Youku (YOKU -3.4%).
    • Palo Alto is adding to Thursday gains seen amid a broader cybersecurity stock rally. Likewise, Enphase gained on Thursday following rival SolarEdge's IPO, Neustar gained after announcing a $150M buyback, and Infinera gained following a bullish MKM note.
    • Ciena is reversing the Tuesday gains seen after Stifel reported the company's share of a major Verizon 100G metro contract (has been officially announced) could be larger than expected. 500.com is giving back major Thursday gains; yesterday morning, SA Instablog author/former i-banker MNS Global reported hearing Chinese authorities are thinking of indefinitely extending recently-placed bans on online sports lottery sales, after uncovering corruption.
    • Previously covered: EMC, HP, Voxeljet, Skyworks, SuperCom, Stratasys, Qunar, Pandora, SanDisk
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  • Fri, Mar. 20, 3:02 PM
    • With the Nasdaq up 0.9% (and nearing its March 2000 highs) amid a market rally, major tech gainers are easily outnumbering major decliners.
    • Following a 1.4% overnight rally in Shanghai, strong Q1 guidance from Ctrip, and a report that Sohu/Tencent's Sogou search engine is planning an IPO, a slew of Chinese tech names are posting big gains. Aside from Ctrip and Sohu, notable gainers include search/browser/security app provider Qihoo (QIHU +4.9%), sports lottery site 500.com (WBAI +12.5%), auto sites Bitauto (BITA +4.2%) and Autohome (ATHM +4.9%), online retailer Vipshop (VIPS +4.7%), data center owner 21Vianet (VNET +6.7%), polysilicon maker Daqo (DQ +6.5%), and chat/dating app owner Momo (MOMO +4.6%).
    • Other standouts include optical component vendor Oclaro (OCLR +9.6%), U.S. solar installer Solar3D (SLTD +10%), NFC reader maker On Track (OTIV +10.5%), printer maker Lexmark (LXK +3.7%), and big data/analytics software provider Hortonworks (HDP +10.2%).
    • Notable decliners include VoIP hardware/software provider Sonus (SONS -6.1%),  solar microinverter leader Enphase (ENPH -4.2%), and authentication hardware/software provider Vasco (VDSI -5.7%).
    • Qihoo is adding to Wednesday's gains, while 500.com and 21Vianet are erasing recent losses. On Track is now up 21% over the last two days. Solar3D is adding to the gains seen yesterday following a contract announcement. Vasco had rallied strongly this week before today.
    • Previously covered: Ambarella, Spherix, Envivio, Youku, Viggle, Castlight/Benefitfocus, Care.com, Ultra Clean, InterCloud, Perceptron, Violin Memory, Amtech
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  • Wed, Mar. 18, 12:45 PM
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  • Wed, Mar. 18, 9:59 AM
    • 500.com (NYSE:WBAI) has tumbled out of the gate. 1.03M shares have been traded thus far vs. a 3-month daily average of 1.46M.
    • The Chinese sports lottery site is now down 39% YTD, thanks largely to lottery sale suspensions by provincial authorities.
    | 3 Comments
  • Thu, Mar. 12, 3:13 PM
    • Major tech gainers are about even with major decliners on a day the Nasdaq is up 0.8% (thanks to a broader market rally) in spite of Intel's Q1 warning.
    • Notable gainers include 3D printer maker Voxeljet (VJET +5.9%), cloud ERP/HR software provider NetSuite (N +3.7%), flash sales site Zulily (ZU +7.5%), stock photo marketplace Shutterstock (SSTK +6.5%), cloud telecom expense software vendor Tangoe (TNGO +5.6%), It services provider Virtusa (VRTU +4.7%), online video ad platform TubeMogul (TUBE +4%), and online ad campaign software provider Marin (MRIN +4.2%).
    • Notable decliners include several Chinese firms. Specifically, search/portal/game provider Sohu (SOHU -5.3%), entertainment/IM/gaming platform YY (YY -4.2%), mobile game publisher Sky-mobi (MOBI -5.8%), and sports lottery site 500.com (WBAI -5.6%).
    • Other big decliners include printer maker Lexmark (LXK -2.6%), chip packaging/testing provider ChipMOS (IMOS -4.7%), and smart grid/wind turbine component maker AMSC (AMSC -6.3%).
    • Zulily is just a day removed from making fresh lows the wake of last month's Q4 miss and soft guidance. BMO provided an upbeat note on TubeMogul yesterday.
    • YY has now more than given back the gains it saw last week following its Q4 beat. ChipMOS posts Q4 results after the close, and is two days removed from reporting its February sales rose 10.5% Y/Y, a slower pace than in recent months (thanks in part to the timing of the Chinese New Year). 500.com recently crashed due to license suspensions, but had bounced from its lows. Lexmark drop comes shortly after HP refreshed its printer lineup.
    • Previously covered: Box, Rosetta Stone, CyberArk, Integrated Silicon, Universal Display, Spherix, Synchronoss, Ingram Micro
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  • Mon, Mar. 9, 10:30 AM
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  • Fri, Mar. 6, 5:42 PM
    • Top gainers, as of 5:15 p.m.: CRIS +13.4%. NG +6.1%. EXK +4.9%. MNKD +4%. SM +3.9%.
    • Top losers, as of 5:15 p.m.: WBAI -6.2%. VEEV -2.1%. GTN -2.1%. RIGL -1.7%. EVTC -1.5%.
    | 13 Comments
  • Mon, Mar. 2, 9:59 AM
    • Five days after stating certain provincial sports lottery regulators had suspended online lottery sales, 500.com (WBAI +0.5%) states "the remaining provincial sports lottery administration centers to which the Company provides sport lottery sales services that such provincial sports lottery administration centers also plan to temporarily suspend accepting online purchase orders for lottery products," following a national government notice to conduct inspections for unauthorized sales.
    • During the suspension period, 500.com "plans to continue processing online orders for lottery products that are distributed by local lottery stations and represented by paper lottery tickets." However, it expects "transaction volume to decrease significantly and in turn the Company's financial results will likely be materially and adversely impacted."
    • The company plans to "engage in conversation with the competent government authorities with regard to such temporary suspension."
    • Shares opened sharply lower, but have quickly erased their losses. Plenty of bad news has clearly been priced in over the last two weeks.
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  • Mon, Mar. 2, 9:15 AM
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  • Fri, Feb. 27, 2:04 PM
    • Many Chinese Internet and mobile names are selling off as the yuan falls to its lowest levels against the dollar since Oct. 2012, thanks to the dollar's broader strength against foreign currencies and ongoing worries China's economy is cooling off. The exchange rate is currently at 6.27.
    • A weaker yuan affects the top and bottom lines of Chinese firms, as reported in dollars. It also increases financing costs (should Chinese companies seek to raise capital overseas), and is triggering fears of capital outflows that could lead the yuan to sell off further.
    • Notable decliners include YY (YY -5.2%), Vipshop (VIPS -4.1%), SouFun (SFUN -2.1%), Leju (LEJU -3.8%), Bitauto (BITA -3.7%), Autohome (ATHM -3.6%), Sungy Mobile (GOMO -4.2%), Momo (MOMO -6.6%), NetEase (NTES -4.9%), Ctrip (CTRP -2.3%), Qunar (QUNR -3.1%), iDreamSky (DSKY -3.7%), Jumei (JMEI -3.3%), Changyou (CYOU -3.3%), and 500.com (WBAI -4.8%). 500.com was downgraded to Hold by Deutsche today in response to recent provincial license suspensions.
    • A few of the aforementioned names also sold off on Wednesday. Forward P/E and P/S multiples for the group are far lower than they were 12 months ago.
    | 10 Comments
  • Thu, Feb. 26, 12:54 PM
    • With shares having fallen 45% from Feb. 18 to yesterday's close, 500.com (WBAI +2.6%) is launching a $30M buyback that will be financed using cash on hand.
    • At current levels, the buyback is good for repurchasing 8% of outstanding shares. 500.com had $147.3M in cash and time deposits (equal to 41% of its current market cap) as of Dec. 31.
    • Yesterday: 500.com falls after disclosing provincial license suspensions
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  • Wed, Feb. 25, 12:48 PM
    | 4 Comments
  • Wed, Feb. 25, 9:24 AM
    | 3 Comments
  • Wed, Feb. 25, 9:14 AM
    • 500.com (NYSE:WBAI) states "certain provincial sports lottery administration centers to which the Company provides sport lottery sales services plan to temporarily suspend accepting online purchase orders for lottery products."
    • The suspensions follow a notice by national authorities to provincial and municipal governments to "conduct inspection and take remedial measures for unauthorized online lottery sales within their respective jurisdictions."
    • Four "high-frequency" sports lottery products offered by 500.com are affected by the suspensions. The products accounted for 9.6% of the company's 2014 sales.
    • Shares are down to $12.01 premarket. They'd already tumbled on account of license suspension rumors.
    | 2 Comments
  • Tue, Feb. 24, 1:25 PM
    • 86 Research has upgraded 500.com (WBAI +0.7%) to Buy after shares nosedived amid rumors (denied by 500.com) the Chinese sports lottery site will lose its license, and that CEO Man San Law has been detained.
    • Shares are still down 26% from last Thursday's close.
    | 1 Comment
  • Mon, Feb. 23, 12:44 PM
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Company Description
500.com Ltd is an online sports lottery service provider in China. The Company offers online sales services, information platform, analytical tools and mobile applications.
Sector: Services
Country: China