Market Currents

• Friday, November 27, 2009

• 08:16 AM Sources say China's largest internet portal, Sina Corp. (SINA), has attracted three investment firms that, along with management, will invest $180M in the company. The group – Sequoia Capital, FountainVest Partners, and Citic Capital Holdings – will receive a 9.4% stake in the company. Sina's management is pitching in about $50M, while the investment firms are coughing up the rest. Comment!

• Tuesday, November 17, 2009

• 09:00 AM Premarket gainers: SMTL +30%. AGO +12%. HLCS +12%. CSE +11%. APWR +11%. DDS +10%. NGSX +9%. SINA +7%. SKS +6%. EJ +6%. CTIC +6%. DPTR +5%. MPEL +4%.
  Losers: PSUN -22%. SPWRA -16%. JEC -10%. AOB -9%. BCRX -9%. IRE -9%. CPSL -8%. SII -7%. AIB -7%. NLST -6%. TGP -6%. HOLX -5%. THOR -4%. 2 Comments

• Monday, November 16, 2009

• 17:16 PM Sina (SINA): Q3 EPS of $0.34 beats by $0.03. Revenue of $96.4M (-9%) vs. $99.5M. Sees Q4 revenue of $93M-96M vs. $99.5M. Shares +0.8% AH. (PR) Comment!
• 00:10 AM Notable postmarket earnings: AGO, PSUN, SINA Comment!

• Friday, October 16, 2009

• 14:12 PM China Real Estate Information Corp. (CRIC) jumps up to 20% in its first day trading in New York. The company, created by the merger of E-House Holdings' (EJ) info business and Sina's (SINA) real-estate unit, sold 18M ADRs at the low end of its range to ensure investor interest. Goldman Sachs: Buy [[EJ]] since the spinoff will help accelerate growth. Comment!

• Monday, September 28, 2009

• 08:27 AM Sina Corp (SINA) and Focus Media (FMCN) abandoned plans for a $1.4 billion merger, Reuters reported, citing months of government stonewalling. The deal would have created China's biggest privately-held media company. Separately, Sina said its management team will buy about 10 percent of the company for $180 million. Comment!

• Tuesday, September 1, 2009

• 06:45 AM Analysts were disappointed by the lack of clarity from Sina (SINA): "What people were expecting is that we would get more finality, and instead of that, the whole issue just remains open," Citigroup's Jason Brueschke said. "There is far greater uncertainty for Focus Media (FMCN) shareholders, because the question is, are you getting Sina shares or not?" Comment!
• 06:24 AM On its Q2 earnings call this morning, Sina (SINA) conceded it's unlikely to receive Chinese antitrust approval for its proposed merger with Focus Media (FMCN) by the end of September, their agreed merger deadline. Sina says the pair are currently in talks to either extend the deadline, again, or alter the deal structure. Comment!

• Monday, August 31, 2009

• 17:08 PM Sina (SINA): Q2 EPS of $0.29 in-line. Revenue of $90M (-1%) vs. $88M. Sees Q3 revenue of $91M-94M vs. $96M. Shares -3.3% AH. (PR) Comment!
• 00:05 AM Notable earnings after Monday's close: SINA Comment!

• Wednesday, June 10, 2009

• 09:09 AM Premarket gainers: PPHM +21%. AXL +13%. SAY +12%. ESLR +10%. ISLE +10%. LEA +10%. FRO +8%. ETFC +8%. DAN +7%. OMC +7%. SOL +8%. DPTR +6%. CENX +6%. NVAX +6%. RTP +6%. BQI +5%. XL +5%. UBS +5%. JASO +5%. CSUN +5%. OPWV +5%. HBC +4%. RCL +4%. LDK +4%.
  Losers: CNB -26%. SINA -7%. LHO -6%. SQNM -4%. 1 Comment
• 05:30 AM Sina (SINA): Q1 EPS of $0.23 beats by $0.01. Revenue of $74M (+3.5%) vs. $75M. (PR) (~from Tues. evening)
  Comment!

• Tuesday, June 9, 2009

• 00:05 AM Notable earnings after Tuesday's close: NCS, SINA Comment!

• Thursday, May 28, 2009

• 00:10 AM Notable earnings after Thursday's close: DELL, JCG, MRVL, NOVL, SINA Comment!

• Tuesday, March 17, 2009

• 06:59 AM Sina (SINA): Q4 EPS of $0.49 beats by $0.04. Revenue of $101.5M (+43.6%) vs. $99.4M. (PR) (-from Mon. evening)
  Comment!

• Monday, March 16, 2009

• 00:10 AM Notable earnings after Monday's close: SINA Comment!