Monday, May 20, 1:44 PM
In addition to Qihoo's strong numbers, NetEase (NTES +5.5%) is benefiting from an upgrade to Buy from Citi, and an upgrade to Overweight from HSBC. The upgrades come a few days after the Chinese online game developer posted a Q1 beat and promised to pay out 20%-25% of annual net income via dividends.
Comment![Tech, On the Move]
Monday, May 20, 10:15 AM
Chinese Internet stocks jump in response to Qihoo's Q1 beat and very strong Q2 guidance, highlighted by ramping search ad sales and soaring online game revenue. YY +6.5%. RENN +6.8%. NTES +5.5%. BIDU +2.4%. PWRD +3.2%. SOHU +3%. SINA +2.3%.
Comment![Tech, On the Move]
Wednesday, May 15, 6:23 PM
More on NetEase: The company has adopted an annual dividend policy under which it will pay out 20%-25% of net income in a given fiscal year. The announcement follows the January payment of a $1/share special dividend. NetEase's Q1 online game revenue (90% of total) rose 11% Y/Y. Ad sales +15%, all other services +65%. Opex -22% Q/Q (lower promotional spend) but +28% Y/Y (investments in new games). NTES +2.6% AH. CC at 9PM ET (webcast). (PR)
Comment![Tech, Earnings, On the Move]
Wednesday, May 15, 6:02 PMNetease.com (NTES): Q1 EPS of $1.32 beats by $0.09. Revenue of $363.6M beats by $15.47M. (PR)
Comment![Earnings, Breaking News, Tech]
Monday, April 29, 11:28 AM
Chinese Internet stocks rally following news Alibaba is buying an 18% stake in Sina as it tries to head off competition from Tencent. Youku (YOKU +7%) is the biggest winner, but Baidu (BIDU +2.2%), NetQin (NQ +3.8%), NetEase (NTES +2%), and YY (YY +3.7% - a rival to Tencent's QQ platform) are also having good days. Youku filed its 2012 20-F on Friday.
Comment![Tech, On the Move]
Thursday, March 28, 6:49 PM
Even as console game sales tumbled and PC demand slipped, PC game sales grew 8% last year to $20B, estimates research firm DFC - this figure includes money spent on online titles. Demand from China is believed to have risen 9% to $6.8B, and positive growth was also reportedly seen in the U.S. and Japan. Interestingly, industry trade group PCGA argues mobile is helping PC gaming enabling smaller developers to launch cross-platform initiatives.
Comment![Tech]
Wednesday, March 20, 10:57 AMSolid earnings from Tencent (TCEHY.PK) and a rally in Shanghai help Chinese Internet stocks trade higher. YOKU +3.8%. SINA +2.8%. QIHU +2.5%. SOHU +1.8%. YY +1.8%. NTES +1.5%. PWRD +1.7%. Tencent, which rose 1.5% in Hong Kong, reported a 53% Y/Y increase in Q4 sales to $1.96B, and a 37% increase in net income to $557M. Ad sales were better than expected, and value-added service sales (includes online games) rose 32%. Registered accounts for Tencent's WeChat mobile IM platform, which competes with Sina's Weibo, have topped 300M.
Comment![Tech, On the Move, Earnings]
Friday, February 8, 11:40 AM
Activision (ATVI +11.6%) is making multi-year highs following a Q4 beat fueled by a record 44% op. margin and soaringSkylanders toy sales. Sterne Agee has upgraded shares to Buy, declaring Activision well-positioned for upcoming console refreshes and predicting major buybacks are on the way. Management noted on the earnings call most of the Q4 decline in World of Warcraft subs came from China, and that Western subs were relatively stable. Electronic Arts (EA +2.2%) is higher, and so is Chinese Warcraft partner NetEase (NTES +6.7%).
1 Comment[Tech, On the Move, Earnings]
Tuesday, December 4, 2012, 10:24 AM
Some marquee Chinese Internet stocks are slumping, potentially on worries about the SEC's suits against the Chinese arms of the Big-4 U.S. accounting firms. Baidu (BIDU -5.1%), Sina (SINA -6.6%), Youku Tudou (YOKU -4.2%), Sohu (SOHU -3%), Perfect World (PWRD -1.2%), and NetEase (NTES -4%) are among the losers. Renren (RENN +2.5%) is higher following yesterday afternoon's Deutsche upgrade.
2 Comments[Tech, On the Move]
Friday, November 16, 2012, 1:02 PM
Sohu (SOHU -4.8%) is selling off again today, likely on account of fellow Chinese portal owner Sina's disappointing Q4 guidance. Shares fell on Wednesday after HSBC started coverage with an Underweight, and (like Baidu and Sina's shares) aren't far removed from their 52-week low. NetEase (NTES -5.5%), which dived yesterday in response to its Q3 miss, is also having a bad day.
1 Comment[Tech, On the Move]
Michael Bryant NetEase (NTES), OSI Systems (OSIS), FleetCor Tech (FLT), Dick's Sporting Goods (DKS), & AFC Enterprises (AFCE) rose Wednesday on unusual vol