Dec. 15, 2014, 5:38 PM
- Nokia's (NYSE:NOK) Here unit will power Baidu's (NASDAQ:BIDU) PC and mobile mapping services outside of China. The solution will cater to Chinese tourists traveling abroad.
- With Baidu's search services squaring off against Google's in non-Chinese markets, it might have been more comfortable partnering with a third party. The Baidu deal comes shortly after Nokia made Here's Android app available to all; it was previously offered only to Samsung users. An iOS app will launch in 2015.
- Separately, Nokia has announced Bernard Najm, an 18-year company vet, is its new Middle East/Africa chief. Najm succeeds Igor Leprince, who was recently named the company's Global Services chief.
Dec. 12, 2014, 4:54 AM
- Despite coming under fire across the globe this week, Baidu (NASDAQ:BIDU) is buying a minority stake in Uber, giving the ride-sharing giant a boost as it expands in China.
- The investment may be worth as much as $600M, Bloomberg reports quoting China National Radio.
- Earlier this month, Uber raised $1.2B in a new round of funding that valued the company at $40B.
Dec. 10, 2014, 1:35 PM
- After announcing the creation of the Emerging Markets ex-State-Owned Enterprises Index yesterday, WisdomTree rolled out the the WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (NYSEARCA:XSOE) this morning.
- According to WisdomTree's blog post for the launch, XSOE "provides investors with a way to capitalize on the opportunities of emerging markets without the politics involved with state-owned enterprises."
- Top holdings in the fund include Tencent Holdings (OTCPK:TCEHY), Samsung Electronics (OTC:SSNHY) and Baidu (NASDAQ:BIDU); two companies out of China and one from South Korea.
- Other emerging market ETFs: EEM, VWO, EDC, EDZ, SCHE, IEMG, EEV, ADRE, EET, EUM, GMM, EEME, DBEM, EMCR, FEM, EWEM, EMLB, HEEM, EMSA, EMFT
Dec. 1, 2014, 10:38 AM
- Chinese Internet and telecom names are among the biggest tech decliners as the Nasdaq registers a 0.9% drop. A soft November PMI print isn't helping.
- Giants Alibaba (BABA -4.3%) and Baidu (BIDU -2.8%) are among the casualties. As is Qunar (QUNR -5.8%), which reports after the bell.
- Other Internet decliners: BITA -12%. QIHU -4.4%. CTRP -4.3%. SFUN -7.2%. LEJU -7.5%. RENN -6.3%. SINA -3.8%. WB -3%. YY -3.9%. VIPS -3.8%. SOHU -3.5%. MOBI -4.3%. CMGE -8.6%.
- Telecom decliners: CHL -3.6%. CHU -3.9%. CHA -4%.
- ETFs: KWEB, CQQQ, QQQC
Nov. 19, 2014, 10:49 AM
- Xiaomi and Shunwei Capital (a fund set up by Xiaomi founder Lei Jun) are investing $300M in Baidu's (BIDU -0.9%) iQiyi video site.
- Bloomberg reports Xiaomi's investment is good for a 10%-15% stake, and that Baidu will be investing another $100M in iQiyi, leaving it with an 80% stake. A prior report stated Baidu is also investing $300M.
- The companies plan to jointly develop content and (unspecified) tech products, with a focus on mobile. iQiyi CEO Gong Yu: "Just like Xiaomi, iQiyi has a large number of young users. We will produce original content including animation, TV drama and variety shows for Xiaomi’s users.”
- Last week, Xiaomi announced an investment in iQiyi rival Youku. Shortly before that, iQiyi announced it would buy distribution rights to 1K+ U.S. movies in 2015.
Nov. 12, 2014, 8:04 AM
- Xiaomi (now China's biggest smartphone vendor and #3 worldwide) and Baidu (NASDAQ:BIDU) are each investing $300M in Baidu's iQiyi video site, China Business Daily reports.
- Meanwhile, Xiaomi has announced it's taking a stake in major iQiyi rival Youku (NYSE:YOKU) by acquiring shares on the open market. Xiaomi will also license content from Youku, and the companies will "jointly invest in the production and distribution of online video content and movies."
- The news comes a week after Xiaomi announced it's investing $1B to expand its Web video content library. The company claims 85M active users for its MIUI Android UI (pre-installed on its phones). Baidu/iQyi recently announced it would have distribution rights to 1K+ U.S. movies next year.
- Baidu, Youku, SOHU, and Tencent have been battling fiercely in a Chinese Web video market that features no dominant YouTube-like player for user-generated/short-form content, nor any dominant Netflix-like player for TV shows and movies. The market has seen huge mobile video growth: Mobile made up over 60% of Youku's Q2 video views.
- YOKU +3.6% premarket.
Nov. 10, 2014, 11:15 AM
- Baidu's (BIDU +2.5%) Dianxin mobile app unit is partnering with Chinese online retailer LightInTheBox (LITB +10.6%) to globally promote and distribute LightInTheBox's apps.
- Dianxin's apps, which include Android utility apps such as DU Battery Saver and DU Speed Booster, have been downloaded by 350M Chinese and nearly 200M non-Chinese users.
- LightInTheBox, which is up sharply on the news, receives the lion's share of its revenue from non-Chinese buyers. Baidu has increasingly been butting heads with Alibaba, whose marketplaces handle plenty of sales between Chinese merchant and overseas customers.
Oct. 29, 2014, 5:13 PM
- Baidu's (NASDAQ:BIDU) mobile traffic surpassed its PC traffic in Q3, and generated 36% of revenue. Three months ago, Baidu disclosed mobile was over 30% of Q2 revenue, and that it had 500M+ mobile search active users in June.
- Active online ad customers +5.7% Q/Q and +11.2% Y/Y to 516K. Revenue/customer +7% Q/Q and +35.6% Y/Y to $4,220 (drove much of the top-line growth).
- Traffic acquisition costs rose to 12.9% of revenue from 12.7% in Q2 and 11.7% a year ago. Content costs (video-driven) rose to 3.7% of revenue from 2.5% a year ago, and bandwidth costs fell to 5.6% from 5.8%.
- SG&A spend +95% Y/Y to $439.9M, thanks largely to strong mobile promotional spending. R&D spend +68% to $298.4M.
- Y/Y revenue growth slipped to 52% in Q3 from 58.5% in Q2. Q4 guidance implies 48% growth at the midpoint
- BIDU +0.4% AH. Q3 results, PR.
Oct. 29, 2014, 4:36 PM
Oct. 28, 2014, 5:35 PM
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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%.
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