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PR Newswire (Aug 7, 2014)
at MarketWatch.com (Jun 27, 2014)
at MarketWatch.com (Jun 27, 2014)
PR Newswire (Jun 27, 2014)
at MarketWatch.com (Mar 28, 2014)
at CNBC.com (Mar 25, 2014)
at MarketWatch.com (Mar 18, 2014)
at CNBC.com (Dec 18, 2013)
at MarketWatch.com (Oct 31, 2013)
Today, 12:44 AM
Yesterday, 5:30 PM
Fri, Jun. 27, 9:57 AM
- Chinese messaging/gaming giant Tencent (TCEHY) is paying $736M to buy a 19.9% stake in local online classifieds leader 58.com (WUBA -1.4%).
- Tencent is paying the equivalent of $40/share for its stake - 23% below 58.com's current trading levels. 58.com will use some of the proceeds to buy back 27.6M shares ordinary shares (the equivalent of 13.8M ADS) from pre-IPO holders.
- 58.com's services will be integrated with Tencent's QQ and Weixin (WeChat) messaging platforms, which are nearly ubiquitous in China. Both companies have also "agreed to use each other as [their] preferred partner in local services."
- The investment is the latest in a string of major deals by Tencent meant to solidify its Web/mobile empire as it battles with Alibaba and Baidu on a variety of fronts. The latter two companies haven't been standing idly either.
- It looks like some investors knew in advance: 58.com's shares rose 13.8% yesterday ahead of the announcement.
Thu, May. 22, 1:48 PM
- Though 58.com (WUBA -7%) beat Q1 revenue estimates, EPS of $0.03 was a penny below consensus. A 63.8% Y/Y increase in opex to $44.1M pressured the company's bottom line.
- Q2 guidance is for revenue of $61M-$63M, above a $57.8M consensus.
- Q1 membership revenue (57% of total revenue) rose 85% Y/Y, a pickup from Q4's 71% clip. Online marketing revenue (ads, 43% of revenue) soared 146.8% after growing 116% in Q4.
- Paying merchant members rose another 48K Q/Q to 441K, and 51% of page views came from mobile platforms. The company claims it has been "steadily increasing [its] lead in traffic" over Chinese online classifieds rivals.
- Q1 results, PR
Thu, May. 22, 9:15 AM
Wed, May. 21, 11:58 PM
Wed, May. 7, 10:50 AM
- Has irrational exuberance given way to panic selling? Internet stocks are off again today, as the Street registers disappointment with earnings reports from AOL, Groupon, Zulily, SouFun, 500.com, and King.
- Yahoo (YHOO -6.2%) has fallen below $35 as the Street digests Alibaba's IPO filing. Twitter (TWTR -4.4%), crushed yesterday following its lockup expiration, briefly cracked $30 before rebounding a bit.
- Other decliners: QIHU -8.9%. BITA -7.2%. GOMO -7%. TRLA -5.2%. MELI -4.7%. ANGI -4.6%. Z -4%. YOKU -5.5%. CTRP -5.3%. WUBA -5.3%. JOBS -5.1%. GRUB -4%.
- Internet/social media ETFs: PNQI, SOCL, FDN
Tue, Apr. 15, 4:55 PM| 8 Comments
Tue, Apr. 8, 12:45 PM
Tue, Apr. 8, 11:44 AM| Comment!
Tue, Apr. 1, 1:52 PM
- Hit hard on multiple trading days last week, high-beta Chinese Internet and solar stocks are flying higher amid a tech rally.
- Leading Chinese Internet gainers: GOMO +14.8% (tumbled last week post-earnings). BITA +10.2%. WUBA +8.9%. VIPS +6.4%. SFUN +6.4%. WBAI +6.3%. CCIH +5.9%. ATHM +5.8%.
- Notable Chinese solar gainers: CSUN +9.7%. JKS +8.9%. TSL +5.4%. YGE +4.1%. JA Solar is rallying with the help of a bullish Northland coverage launch.
- Recent IPOs King Digital (KING +4.5%) and Castlight Health (CSLT +16.1%) are among the winners. King remains 16% below its $22.50 IPO price. Castlight is 54% above its $16 IPO price, but well below a post-IPO high of $41.95.
Fri, Mar. 28, 12:31 PM
- 58.com (WUBA +6%) is selling 2M new shares, and 4M on behalf of existing holders, at a price of $38. The company previously said it would sell 8M shares - 4M apiece from the company and existing holders.
- The offering price is 3% below yesterday's closing price of $39.15. 58.com stands to reap gross proceeds of $76M.
Wed, Mar. 26, 4:04 PM
- Aided by King's poor debut and general momentum stock weakness, U.S. and Chinese Internet stocks have fallen hard for the second time this week.
- In addition to King rival Zynga and newly-minted VR headset maker Facebook, Twitter (TWTR -7.1%) is among the leading U.S. decliners. Exactly 3 months after reaching a peak of $74.73, shares have fallen below their post-IPO opening price of $45.10. They remain well above their $26 IPO price.
- Other U.S. decliners: P -5.2%. Z -6.2%. TRLA -7%. GSVC -4.8%. SVVC -4.1%.
- Many Chinese Internet stocks have also been hit hard. Sungy Mobile (GOMO -23.2%), which posted a Q4 beat and in-line guidance yesterday afternoon, is the biggest decliner. Others: QIHU -8%. WUBA -9.5%. MOBI -10.6%. QUNR -7.8%. NQ -7%. YOD -7.6%. WBAI -7.5%. SOHU -7%. ATHM -6.5%. SFUN -6.3%.
- Internet/social media ETFs: FDN, PNQI, SOCL
Mon, Mar. 24, 9:11 AM| Comment!
Mon, Mar. 17, 11:48 AM
- Ahead of its April 29 lockup expiration, 58.com (WUBA -5.7%) has filed to sell up to $400M worth of shares. (F-1)
- The Chinese online classifieds leader hasn't disclosed how many new shares it plans to issue, or how many shares will be sold by existing holders.
- 58.com had $311.1M in cash/investments at the end of 2013, and no debt.
Mon, Mar. 10, 3:57 PM
- Chinese Internet and solar names, many of them among the standouts of the 2013/2014 tech rally, are heading into the close with steep losses after the Chinese government reported exports fell 18.1% Y/Y in February (much worse than expected).
- Internet decliners: WUBA -10.7%. YOKU -7.3%. ATHM -7.2%. QUNR -6.4%. NQ -6%. RENN -5.2%. CTRP -5.2%. YY -4.4%. WBAI -4.4%. KONG -5.5%.
- Solar decliners: JKS -6.3%. YGE -5.8%. TSL -6.7%. CSUN -4.9%. CSIQ -4.5%. DQ -4.2%. HSOL -4.5%.
- Solar ETFs: KWT, TAN
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