PR Newswire (Dec 5, 2013)
PR Newswire (Dec 2, 2013)
PR Newswire (Nov 11, 2013)
PR Newswire (Nov 4, 2013)
PR Newswire (Oct 8, 2013)
at MarketWatch.com (Sep 24, 2013)
at MarketWatch.com (Sep 3, 2013)
PR Newswire (Aug 14, 2013)
PR Newswire (Aug 5, 2013)
PR Newswire (May 28, 2013)
at MarketWatch.com (May 14, 2013)
PR Newswire (May 6, 2013)
PR Newswire (Apr 10, 2013)
PR Newswire (Mar 22, 2013)
PR Newswire (Mar 14, 2013)
PR Newswire (Feb 21, 2013)
PR Newswire (Feb 20, 2013)
PR Newswire (Nov 19, 2012)
PR Newswire (Nov 13, 2012)
at MarketWatch.com (Sep 24, 2013)
at MarketWatch.com (Sep 3, 2013)
at MarketWatch.com (May 14, 2013)
Vipshop Holdings Limited, through its subsidiaries, operates as an online discount retailer for various brands in the People's Republic of China. It offers a selection of branded discount products, including apparel for women, men, and children; fashion goods; cosmetics; home goods and other... More
Tuesday, Dec 1012:34 PMMuddy Waters says it has "no view" on Vipshop, shares rebound
Tuesday, Dec 1012:34 PM| 1 Comment
- After slumping in response to the appearance of a purported Muddy Waters-related "draft report" (since deleted) on Vipshop (VIPS -1.1%), shares have bounced in response to Muddy Waters' declaration that the draft is "a complete hoax," and that the firm has "no view" on whether Vipshop is a fraud.
- Shares are still down 3% from where they traded before their mid-morning dive.
Tuesday, Dec 1011:05 AMVipshop dives on report of fraud call from Muddy Waters partner
Tuesday, Dec 1011:05 AM| Comment!
- Reports a Muddy Waters partner is accusing Vipshop (VIPS -6.8%) of being a fraud has led shares to dive over the last ten minutes of trading.
- Given what happened to NQ Mobile following Muddy Waters' fraud accusations, some investors are likely in a risk-averse mood.
- Update: Muddy Waters asserts it has "no view" on whether Vipshop is a fraud.
Tuesday, Nov 1910:03 AMLightInTheBox crashes due to earnings, guidance; Vipshop also off
Tuesday, Nov 1910:03 AM| 2 Comments
- In addition to missing Q3 estimates, LightInTheBox (LITB -19.8%) is guiding for Q4 revenue of $75M-$77M, below an $83.1M consensus. The Chinese e-commerce firm says sales in its apparel category (the company's second-largest) are "undergoing adjustments," and that it's enhancing its offerings in this space by "placing greater emphasis on other product lines beyond wedding and special occasion wear."
- Gross margin was 43.9%, up 160 bps Y/Y but down 210 bps Q/Q. Total customers amounted to 1.3M (+75% Y/Y), up from 1.2M in Q2, and total orders rose 80% Y/Y to 1.6M.
- Heavy spending also pressured EPS: Sales/marketing spend rose 53.8% to $21.6M, and fulfillment spend rose 52% Y/Y to $3.8M. Both growth rates outpaced rev. growth of 33.4%.
- Europe accounted for 58.8% of revenue, down from 61% in Q2 but up from 40.8% in the year-ago period.
- Peer Vipshop (VIPS -5.1%), which jumped last week after providing a Q3 beat and strong Q4 guidance, is also off. HSBC started coverage at Overweight this morning.
- Q3 results, PR
Tuesday, Nov 122:21 PMVipshop climbs as Piper reiterates Overweight, raises PT to $102
Tuesday, Nov 122:21 PM| 1 Comment
- Vipshop (VIPS +7.4%) shares climb after Piper Jaffray reiterates an Overweight rating and hikes its PT to $102 from $77.
- Analyst Gene Munster notes that both Vipshop's Q3 results and Q4 guidance came ahead of expectations. He sees the trend continuing, as the flash retailer "has a long runway of growth ... Vipshop's apparel business (55% of revenue), for example, has a market share of only 5.2% (2013 PJC est) of China's large and growing $16.7B (USD) discount apparel market."
- Q3 operating margin of 3.1% was ahead of Piper's estimate, "demonstrating the scalability of Vipshop's business model. Over the next several years we expect that Vipshop can continue to leverage its fulfillment expenses as it gains scale and also moves to owning fulfillment centers instead of leasing."
- Fellow Chinese e-commerce peer LightInTheBox (LITB +5.6%) follows.
Monday, Nov 115:07 PMMore on Vipshop Q3 results, guidance
Monday, Nov 115:07 PM| Comment!
- Vipshop (VIPS) Q3 revenue skyrocketed 146.1% Y/Y to $383.7M on the back of a 131.7% jump in active customers to 4M and a 115.6% increase in total orders to 11.7M.
- Gross margin expanded to 24.3% from 22.3% in Q3 2012.
- Fulfillment expenses grew 103.2% to $44.1M, marketing expenses +137.7% to $17.4M, technology and content expenses +199.1% to $9.6M, and G&A +88.5% to $11.9M.
- Management guides for Q4 revenue of $580M-$590M (vs. consensus of $532.6M), representing a Y/Y growth rate of 94%-97%.
- PR, Conference call at 8 am ET tomorrow
Monday, Nov 114:51 PM
Monday, Nov 114:01 PMYahoo, Dangdang rally on strong Chinese e-commerce data
Monday, Nov 114:01 PM| Comment!
- On China's biggest annual online shopping day (Singles Day), Alibaba handled RMB35B ($5.7B) worth of transactions, easily topping the company's $5B forecast. Alibaba's 2012 transaction level of $3.1B was passed at 1:04PM local time.
- Mobile sales rose over 5x Y/Y, and account for 21% of this year's transactions.
- Investors in 24% Alibaba owner Yahoo (YHOO +2.1%) appear happy with this year's performance. So do investors in 35% owner SoftBank (SFTBF, SFTBY), whose shares rose 1.9% overnight in Tokyo.
- Local e-commerce firm Dangdang (DANG +10.8%) has received a big lift from Singles Day optimism. Peer Vipshop (VIPS -2.1%), which is about to report, hasn't been so lucky. Oppenheimer has cut shares to Hold, citing lofty multiples following a big 2013 run-up. LightInTheBox (LITB -0.4%), which had its PT lowered by Oppenheimer, has closed down slightly.
Thursday, Nov 711:48 AMInternet momentum stocks sell off as Twitter soars
Thursday, Nov 711:48 AM| 16 Comments
- Even as Twitter blasts off to a $25B valuation following its much-hyped IPO, U.S. and foreign Internet stocks are giving back some more of the massive 2013 gains that have led many names to trade at steep multiples.
- One sign investors in this space are in a profit-taking mood: Zillow (Z -4.3%) and YY both sold off yesterday in spite of delivering Q3 beats (I, II) and above-consensus guidance; Zillow is adding to its losses today. Likewise, SouFun (SFUN -5.4%) has turned negative after providing a Q3 beat and strong guidance.
- Notable U.S. decliners: FB -2.4%. LNKD -2.8%. GRPN -4.7% (reports after the close). ZNGA -2.7%. P -3.8%. TRLA -5.4%.
- Notable foreign decliners: BIDU -2.4%. QIHU -6.7%. SINA -5% (generally viewed as the Chinese Twitter). DANG -6.2%. VIPS -7.7%. RENN -4.2%. AMAP -4.7%. CTRP -5.7%. YOKU -5.6%. RENN -4.2%. YNDX -5.1%. MELI -2.4% (plunged yesterday thanks to a Q3 miss). SIFY -2.6%.
- Internet/social media ETFs: FDN, PNQI, SOCL
Tuesday, Nov 511:42 AM
Monday, Nov 48:34 AMVIPShop PT hiked to $85 at Citi
Monday, Nov 48:34 AM| Comment!
- Citi hikes its PT on VIPShop (VIPS) all the way to $85 from $50 previously as the analysts see higher revenue growth, improved operational efficiency, and relaxing warehouse constraints.
- Analysts Muzhi Li, Ravi Sarathy, and Gregory Zhao think the flash retailer will expand its warehouse space from 220K sq. m to 600K sq. m by 2015, which will eliminate VIPShop's "biggest constraint" to growth.
- Operationally, as VIPShop moves into higher-end mass market brands like TOD's, Nine West, Lee, LeSportsac, etc., "return rates [~20% according to the company] could edge down in the longer term."
- The analysts now expect revenue growth of 130% in 2013, 70% in 2014, and 48% in 2015 (slightly above consensus expectations of 128% in 2013 and 62% in 2014).
Monday, Oct 2812:15 PMTech momentum plays dive again
Monday, Oct 2812:15 PM| 5 Comments
- Though the Nasdaq is only down 0.1%, many 2013 Internet, solar, and enterprise software high-flyers are diving once more. Chinese names are well-represented in the group, as NQ Mobile continues crashing thanks to fraud allegations and Sohu plunges due to weak Q4 EPS guidance.
- The WSJ and NYT have each run pieces asking whether a new tech bubble is afoot, at least in certain hot sectors. "People are reaching for growth," says one fund manager quoted by the WSJ. Others argue the fact the high-flyers generally have substantial revenue, and are often profitable, makes the current situation different from the Dot.com bubble.
- Internet decliners: FB -3.4%. MELI -2.8%. GRPN -5%. ZNGA -2.7%. P -2.4%. DANG -7.6%. VIPS -7%. YY -4.8%. QIHU -5.6%. RENN -5.7%. SINA -2.4%. FUEL -4%.
- Solar decliners: JKS -12.4%. FSLR -4.8%. SOL -8.4%. YGE -8%. JASO -6.9%. GTAT -5.4%. SUNE -4.6%. SPWR -4.3%. SCTY -3.8%. STP -8.9%. TSL -13.2%.
- Enterprise decliners: CRM -3.8%. DATA -4.5%. MKTO -5.8%. WDAY -4%. DWRE -3.4%. VEEV -5.1%. IMPV -3.4%.
- Recent declines: I, II.
- Previous: Cashin sees mobile/cloud bubble
Friday, Oct 254:21 PMChinese Web/solar stocks fall amid NQ Mobile accusations, Shanghai selloff
Friday, Oct 254:21 PM| 4 Comments
- Chinese Internet and solar stocks, many of which have skyrocketed this year, have closed with decent losses after the Shanghai exchange fell for the fourth day in a row amid credit crunch worries, and as NQ Mobile continued to feel the impact of Muddy Waters' fraud allegations.
- Muddy Waters' detailed accusations regarding ghost addresses, a shell company, inflated market share figures, dubious cash balances, and spyware are likely to yield fresh scrutiny of the financial statements provided by Chinese ADRs, and could also affect the reception given to upcoming IPOs (I, II). Investor concerns about the bookkeeping of U.S.-traded Chinese firms had diminished some this year.
- Chinese Internet decliners: VIPS -9.1%. AMAP -6.1%. YY -6%. QIHU -4.8%. PWRD -5.7%. CYOU -4.7%. SINA -3.8%. LONG -3.5%. YOKU -3%.
- Chinese solar decliners: YGE -12.2%. JKS -9.4%. JASO -9%. DQ -7.2%. TSL -6.8%. CSIQ -4.8%. CSUN -4.4%.
Thursday, Oct 249:56 AMA roundup of tech ratings changes
Thursday, Oct 249:56 AM| Comment!
- Angie's List (ANGI -3.9%) has been cut to Neutral by B. Riley after missing Q3 estimates and issuing below-consensus Q4 revenue guidance. However, shares have pared the majority of yesterday's AH losses.
- F5 (FFIV +1.6%) has been cut to Neutral by BofA/Merrill after beating FQ4 estimates and issuing mixed FQ1 guidance. Shares have given back most of yesterday's AH gains.
- Fusion-io (FIO -23.6%) has been cut to Equal Weight by Morgan Stanley after providing FQ1 guidance that was far below consensus, and disclosing its CFO and sales chief are leaving.
- Akamai (AKAM -9.3%) has been cut to Neutral by Macquarie after providing disappointing Q4 guidance to go with a Q3 beat and buyback announcement.
- Citrix (CTXS +4.2%) has been cut to Neutral by Susquehanna after providing soft (but better-than-feared) Q4 guidance to go with Q3 numbers that were slightly above the guidance ranges given in a recent warning.
- Rogers (RCI -2.3%) has been cut to Neutral by Macquarie after posting Q3 results.
- Cadence (CDNS -6.2%) has been cut to Hold by Needham after slightly missing Q3 revenue estimates and providing soft Q4 revenue guidance.
- Vipshop (VIPS +0.9%) has been started at Outperform by CLSA.
Tuesday, Oct 223:54 PMInternet stocks closing with losses following Netflix reversal
Tuesday, Oct 223:54 PM| 9 Comments
- After opening higher in sympathy with Netflix, high-flying U.S. and Chinese Internet stocks are closing lower in sympathy with the streaming giant, which is down 8.2% after trading up over 10% AH yesterday in response to its Q3 numbers.
- In addition to Groupon, which has been stung by an ITG Research note, U.S. decliners include Facebook (FB -1.9%), LinkedIn (LNKD -1.7%), Yelp (YELP -2.3%), Zillow (Z -2.5%), and Trulia (TRLA -1%).
- Chinese decliners include Baidu (BIDU -1.6%), Sina (SINA -2.9%), Qihoo (QIHU -3%), Ctrip (CTRP -2.1%), and NQ Mobile (NQ -3.5%).
- Chinese e-commerce plays Vipshop (VIPS -3.7%) and LightInTheBox (LITB -4.9%) are also lower. In addition to the general selloff, they appear to be getting hurt by Dangdang's Q3 warning.
Thursday, Oct 179:56 AMA roundup of tech ratings changes
Thursday, Oct 179:56 AM| Comment!
- IBM (IBM -5.9%) has been cut to Neutral by UBS following its big Q3 revenue miss.
- Xilinx (XLNX -5%) has been downgraded to neutral ratings by Piper and Raymond James, and upgraded to Outperform by Baird, and after beating FQ3 estimates and issuing soft FQ4 revenue guidance.
- SanDisk (SNDK +5.8%) has been upgraded to Strong Buy by Needham after soundly beating Q3 estimates and issuing decent Q4 revenue guidance.
- JinkoSolar (JKS +10.3%) has been has been upgraded to Outperform by Credit Suisse.
- ASML (ASML -1.9%) has been cut to Neutral by HSBC a day after releasing its Q3 results.
- CEVA (CEVA -1.3%) has been cut to Neutral by Wedbush.
- Salesforce (CRM +0.3%) has been started at Buy by Argus.
- SolarCity (SCTY +8.9%) has been started at Overweight by JPMorgan a week after providing strong Q3 metrics and even stronger 2014 guidance.
- NQ Mobile (NQ +6%) and Vipshop (VIPS -0.7%) havebeen started at Outperform by Macquarie.
Tuesday, Oct 811:48 AMRisk off? High-flying U.S., Chinese Internet stocks get hammered
Tuesday, Oct 811:48 AM| 32 Comments
- With the government shutdown having reached day 8, many U.S. and Chinese Internet stocks that have seen giant 2013 gains (often with the help of momentum traders and/or short squeezes) are falling sharply.
- U.S. decliners include Facebook (FB -5.2%), Yahoo (YHOO -5.2%), Netflix (NFLX -4.7%), LinkedIn (LNKD -7%), Zillow (Z -5.3%), Trulia (TRLA -7.5%), Yelp (YELP -9.3%), Groupon (GRPN -4.9%), and Web.com (WWWW -10.2%).
- Chinese decliners include Baidu (BIDU -6.2%), Sina (SINA -7.5%), YY (YY -7.3%), Sohu (SOHU -5.1%), Renren (RENN -9.2%), Youku (YOKU -9.6%), Vipshop (VIPS -6.9%), and Dangdang (DANG -10.7%).
- A chart of the YTD performance of some key names speaks for itself.
- View all 3 replies
Hillbilly Stock Star:: Sorry $1.25 qtrly.
- View all 2 replies
Jasper85:: 50 was the right time to short :)
whitehead1:: You are right. It looked tempting but very risky game. can win or lose 15-20% in a day. risk reward did not look good at that time
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Sir. Monaco:: TSLA cd hv good earnings, but I read an article on the fact that they pump the numbers with their gov clean credits...off to Greece for vaca