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Nov. 6, 2015, 9:29 AM
Nov. 6, 2015, 9:14 AM
- Youku Tudou (NYSE:YOKU) is up 9.7% premarket after Alibaba's definitive merger agreement has it paying a slightly higher amount than initially offered.
- The $3.67B figure Alibaba is paying comes to $27.60 per ADS for Youku Tudou, and even with the gains, Youku is trading premarket at $26.76/ADS.
- Alibaba held 18.3% of Youku Tudou when it made the initial $26.60/ADS offer; the new offer values the rest of the company at $4.77B.
- Previously: Youku Tudou up 24% following Alibaba buyout offer (Oct. 16 2015)
- Previously: Alibaba makes offer for rest of Youku Tudou (Oct. 16 2015)
Oct. 16, 2015, 12:45 PM
Oct. 16, 2015, 9:14 AM
Oct. 16, 2015, 9:12 AM
- Youku Tudou (NYSE:YOKU) is up 23.8% premarket following Alibaba's (NYSE:BABA) offer to buy the rest of the company -- "China's YouTube" -- at a 30%-plus premium.
- Key Youku shareholders -- including founder and CEO Victor Koo and Chengwei Capital -- have entered a support agreement to vote their shares in favor of the $3.6B cash offer, which values Youku at $4.2B.
- The board is forming a committee of (a pair of) disinterested directors to consider the deal.
- BABA is up 0.5% premarket.
Oct. 2, 2015, 12:13 PM
- Hammered over the last several months as macro concerns and plunging local markets took a toll, U.S.-traded Chinese tech stocks are up strongly (CQQQ +3.2%) today even as the Nasdaq and S&P post modest declines.
- Web/mobile stocks posting big gains include giants Alibaba (BABA +5.3%) and Baidu (BIDU +4.5%), with the former naturally taking Yahoo (YHOO +4%) higher with it. Yahoo rose earlier this week after stating it's still pushing ahead with a spinoff of its 384M-share Alibaba stake.
- Other gainers include Vipshop (VIPS +6.6%), SouFun (SFUN +6.2%), Qihoo (QIHU +6.7%), Youku (YOKU +5.8%), Jumei (JMEI +8%), Bitauto (BITA +5.3%), Weibo (WB +5.9%), Jumei (JMEI +8%), and Cheetah Mobile (CMCM +6.6%). Online travel leaders Ctrip and Qunar are also up big, possibly aided by new efforts from Beijing to boost Macau tourism.
- Solar winners include Yingli (YGE +4.1%), ReneSola (SOL +5.6%), and Daqo (DQ +9.4%).
- ETFs: KWEB, QQQC, EMQQ
Sep. 16, 2015, 2:06 PM
- The beaten-down Shanghai and Shenzhen exchanges respectively rose 4.9% and 6.5% overnight thanks to late-session surges - many suspect fresh government intervention was responsible. U.S. traded Chinese Web/mobile names have risen sharply (CQQQ +4.4%) on a day the Nasdaq is up just 0.3%.
- Big gainers include search giant Baidu (BIDU +5.4%), rival Qihoo (QIHU +6.5%), auto sites Bitauto (BITA +6.4%) and Autohome (ATHM +5.3%), travel sites Ctrip (CTRP +7.4%) and Qunar (QUNR +6.5%), online real estate plays SouFun (SFUN +6.1%) and Leju (LEJU +4.5%), and online retailers JD.com (JD +4.8%) and Vipshop (VIPS +6.3%). Priceline announced yesterday afternoon it had hiked its Ctrip stake to 11.6%.
- Other winners include ChinaCache (CCIH +8.1%), Cheetah Mobile (CMCM +6.2%), Sina (SINA +6.7%), Weibo (WB +4.3%), Youku (YOKU +5.7%), and YY (YY +4.1%).
- ETFs: KWEB, QQQC, EMQQ
Aug. 19, 2015, 6:28 PM
- China's net-TV leader Youku Tudou (NYSE:YOKU) is up 3.7% after hours in U.S. trading, as the company posted "accelerated and increasingly diversified" top-line growth and posted a better-than-expected loss for Q2.
- Net loss widened significantly, to 220.7M yuan ($35.6M) on a non-GAAP basis, compared with a loss of 76.9M yuan ($12.4M) in the year-ago period. The company had guided high of expectations for revenue and delivered with 1.61B yuan.
- Content costs were up slightly again, to a non-GAAP 649.8M yuan ($104.8M), representing 43% of net revenues compared to a year-ago 42%. Gross profit of 253.8M yuan ($41M) was up 14%.
- "With nearly half of advertising revenues coming from mobile, we have achieved broad adoption of mobile advertising by domestic and international advertisers alike," said CEO Victor Koo.
- The company's guiding to Q3 revenues between RMB1.69B and RMB1.78B, and advertising net revenues of RMB1.34B-RMB1.4B.
- Shares had closed 5% lower during U.S. market hours; they're down 15.1% over the past month.
- Conference call to come at 9 p.m. ET.
Aug. 11, 2015, 12:27 PM
- In its latest move to boost slowing economic growth, the PBOC has devalued the yuan, while insisting it's a one-time move. The yuan/dollar ratio is currently at 6.33, down from 6.21 yesterday.
- A number of Chinese Internet stocks that record the lion's share of their revenue in yuan are seeing their U.S. shares (denominated in dollars, of course) underperform (CQQQ -3.4%) amid a 1.3% drop for the Nasdaq. Major decliners include Baidu (BIDU -3.8%), Qunar (QUNR -10.2%), Ctrip (CTRP -5.9%), JD.com (JD -5.8%), Sina (SINA -5%), NetEase (NTES -3.9%), Jumei (JMEI -10.7%), Youku (YOKU -6.2%), Bitauto (BITA -6.4%), Leju (LEJU -6%), Changyou (CYOU -7.7%), and Autohome (ATHM -5.3%).
- Among Chinese solar names, Daqo (DQ -14.4%) and JinkoSolar (JKS -3.3%) are seeing big losses.
- JD.com is adding to the Monday losses seen following a Morgan Stanley downgrade and news Alibaba has formed an alliance with major electronics retailer Suning. Both JD and Jumei could be affected by fellow online retailer Vipshop (down 11.1%), which yesterday afternoon provided light Q3 sales guidance to go with a Q2 EPS beat.
- ETFs: KWEB, QQQC, EMQQ
- Yesterday: Chinese Internet stocks rally after Shanghai/Shenzhen post big gains
Aug. 10, 2015, 12:14 PM
- A slew of U.S. traded Chinese Internet stocks are seeing outsized gains after the Shanghai and Shenzhen exchanges respectively rose 4.9% and 4.5% overnight, buoyed by hopes regulators will continue pulling out all the stops to prop up both the economy and equity markets. The Nasdaq is up 1.1%.
- Major gainers include Bitauto (BITA +8.5%), Wowo (WOWO +16.2%), Youku (YOKU +7.5%), 500.com (WBAI +4.9%), SouFun (SFUN +5.7%), Sina (SINA +4.8%), and Weibo (WB +4.3%).
- Bitauto and SouFun are reversing the Friday losses seen after the companies provided below-consensus guidance (I, II) to go with their Q2 beats. SouFun also announced IDG, Carlyle, and members of management are investing up to $1B.
- ETFs: CQQQ, KWEB, QQQC, EMQQ
Jul. 27, 2015, 9:29 AM
- After bouncing in recent weeks with the help of massive government support, Chinese markets nosedived once again overnight amid a backdrop of weak manufacturing data. Shanghai fell 8.5%, Shenzhen fell 7%, and the ChiNext Index fell 7.4%.
- Not surprisingly, many U.S.-traded Chinese tech names are off sharply in premarket trading. YY -4.2%. Qihoo (NYSE:QIHU) -5.5%. JD.com (NASDAQ:JD) -5.4%. SOHU -6%. iDreamSky (NASDAQ:DSKY) -9.6%. SouFun (NYSE:SFUN) -8%. SINA -5.5%. Weibo (NASDAQ:WB) -7.8%. Vipshop (NYSE:VIPS) -4.8%. Youku (NYSE:YOKU) -6.2%. Qunar (NASDAQ:QUNR) -6.2%. Dangdang (NYSE:DANG) -5.4%. 58.com (NYSE:WUBA) -4.7%. 500.com (NYSE:WBAI) -7.2%. Jumei (NYSE:JMEI) -5.7%. NQ Mobile (NYSE:NQ) -6%. Bitauto (NYSE:BITA) -6.3%. Autohome (NYSE:ATHM) -4.8%. Cheetah Mobile (NYSE:CMCM) -10.1%.
- Sohu and Changyou reported this morning. Baidu reports after the close.
- ETFs: CQQQ, QQQC, KWEB, EMQQ
Jul. 17, 2015, 9:22 AM
Jul. 15, 2015, 3:37 PM
- Youku Tudou (NYSE:YOKU) is pacing media decliners among U.S.-listed China stocks, down -6.9% to its lowest point today in U.S. trading, on a day where Shanghai declined 3%.
- YOKU ADRs are off almost 39% since hitting a 52-week high in early June. Also slipping in Chinese telecom/media stocks, Xunlei Limited (NASDAQ:XNET) is down 8%; Phoenix New Media (NYSE:FENG) is off 3.3%; Ku6 media (NASDAQ:KUTV) is down 2.2%. Game maker NetEase (NASDAQ:NTES) is also down 2.5%.
- Alex Eppstein says Youku is one of the stocks proving Bill Ackman right, when he warns about a Chinese market that "looks worse to me than 2007 in the U.S."
- Speaking at the Delivering Alpha conference today, Ackman said: "The Chinese stock market is a fairly remarkable phenomenon and I think kind of a frightening one ... If you look at the Chinese financial system, you look at shadow banking, you look at the amount of leverage, you look at how desperately they worked to keep the stock market up."
Jul. 9, 2015, 9:18 AM
Jul. 9, 2015, 9:14 AM
- Shares in Youku Tudou (NYSE:YOKU) are rebounding, +13.3% premarket, along with China stocks that finally arrested a slide and made up ground today (though in a landscape of suspended trading).
- In NYSE ADR trading, Youku had lost 20% so far this week and more than 37% over the past month.
- China's taken steps to halt a slide and calm investors, with bans in place against major shareholders selling stock and a pursuit of "malicious" short sellers.
- Also rebounding premarket among Chinese media: Xunlet (XNET +9.9%), NetEase (+5%), China Mobile Games & Entertainment (CMGE +2.5%)
- Previously: China halts stock plunge for now (Jul. 09 2015)
- Previously: YY receives going-private offer from chairman, CEO (Jul. 09 2015)
Jul. 7, 2015, 10:42 AM
- The selloff in Chinese equities refuses to let up: Shanghai fell 1.3% overnight, Shenzhen fell 5.3%, and Hong Kong fell 2.7%. The declines come amid a backdrop of frantic government efforts to halt the plunge, and requests by hundreds of Chinese companies for trading halts.
- The lion's share of U.S.-traded Chinese Web and mobile firms are down at least 5%, and many are down more than twice that. In alphabetical order by ticker, major decliners include Autohome (ATHM -10.6%), Bitauto (BITA -18.7%), Baozun (BZUN -22.7%), ChinaCache (CCIH -14.6%), Cheetah Mobile (CMCM -15.2%), China Mobile Games (CMGE -13.2%), Ctrip (CTRP -10.1%), Changyou (CYOU -12.6%), Dangdang (DANG -13.8%), iDreamSky (DSKY -15.4%), E-House (EJ -15.9%), Jumei (JMEI -20.2%), Leju (LEJU -12.1%), eLong (LONG -12.6%), Momo (MOMO -9.4%), NQ Mobile (NQ -16.7%), NetEase (NTES -12.2%), Qihoo (QIHU -10.3%), Qunar (QUNR -14.2%), Renren (RENN -17.8%), SouFun (SFUN -16.3%), Sohu (SOHU -10.9%), Taomee (TAOM -15.1%), Vipshop (VIPS -9.7%), Weibo (WB -10.9%), 500.com (WBAI -26.2%), Wowo (WOWO -26.7%), 58.com (WUBA -17.3%), Xunlei (XNET -14%), Youku (YOKU -12.2%), and YY (YY -9.4%).
- The plunge seen over the last two months (aided by panic selling and margin calls?) has led multiples for U.S.-traded Chinese tech names to compress dramatically, with forward P/E and P/S ratios often below those of U.S. peers sporting similar growth profiles. The Guggenheim China Tech ETF (CQQQ -9.3%) is down 29% from a May peak of $45.64.
- ETFs: KWEB, QQQC, EMQQ
- Yesterday: Chinese tech stocks tumble again in spite of fresh government support
- Earlier today: Chinese phone firms decline as country's markets sink
- Update: The group pared its losses a bit in afternoon trading. CQQQ closed down 5.8%.
Youku Tudou Inc is an Internet television company in china. Its internet television platform enables consumers to search, view and share high-quality video content quickly and easily across multiple devices.
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