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Yandex N.V. (YNDX)

- NASDAQ
  • Mon, Jan. 26, 1:21 PM
    • The ruble/dollar exchange rate is down to 67.9 after the U.S. and EU threatened Russia with new sanctions in the wake of a new offensive by pro-Russian Ukranian rebels. Meanwhile, S&P has downgraded Russia's debt rating to BB+ (junk status) from BBB-.
    • Yandex (YNDX -4%), Qiwi (QIWI -2.6%), VimpelCom (VIP -2%), and MTS (MBT -8.2%) aren't reacting well. Russia's MICEX Index fell 1.8% today. The dollar-based Russia Trading System Cash Index fell 5%.
    | 1 Comment
  • Tue, Jan. 20, 10:04 AM
    • Citing cost inflation (no doubt thanks to a plunging ruble), Goldman has downgraded Yandex (NASDAQ:YNDX) to Sell, and cut its 2015 and 2016 EPS estimates by ~40%.
    • The Russian search giant has once more fallen below $17. Local online payments leader QIWI is also off sharply. Moody's recently downgraded Russia's debt to the brink of junk.
    | 2 Comments
  • Mon, Jan. 12, 2:59 PM
    • Yandex (YNDX -3.1%), Qiwi (QIWI -6.5%), VimpelCom (VIP -3.1%) and MTS (MBT -4.2%) are following the ruble lower once more. The dollar/ruble exchange rate is currently at 63.05.
    • In the news today: 1) Angela Merkel has warned about a lack of progress at a 4-way summit aimed at easing Ukraine tensions. 2) Goldman has cut its 3-month dollar/ruble target to 70 and its 12-month target to 60, citing the impact of low oil prices. 3) The Russian central bank discloses it has respectively spent $76B and €5.4B to prop up the ruble against the dollar and euro. 4) The president of Russia's regional banking association warns "a wave of bankruptcies" could hit the country.
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  • Thu, Jan. 8, 10:13 AM
    • Russia' MICEX Index is up 5.2%, joining many European indices in rallying. The ruble, meanwhile, has risen 3.9% against the dollar; the exchange rate is currently at 60.48.
    • Yandex (YNDX +7.3%), Qiwi (QIWI +7.1%), and MTS (MBT +8%) have shot higher in response. Yandex, less than $4 above a 52-week low of $15.03, currently goes for 22x 2015E EPS at current exchange rates. Its 2015 revenue growth consensus (in rubles) is at 20.5%.
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  • Dec. 31, 2014, 12:06 PM
    • VimpelCom (VIP -6.1%), MTS (MBT -4.3%), Yandex (YNDX -2.6%), and Qiwi (QIWI -2.4%) are ending what has been a very tough year for nearly any Russia-related investment on a down note.
    • The government's statistics ministry stated today 2014 inflation is expected to come in at 11.4% thanks to the ruble's plunge. Food prices are expected to post a 15.4% increase, non-food products an 8.1% increase, and service charges a 10.5% increase. Consumer prices are up 2.6% M/M in December.
    • YTD declines: YNDX -58%. QIWI -63%. VIP -68%. MBT -65%.
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  • Dec. 17, 2014, 1:29 PM
    • Battered in recent days as crude oil plunged and took the ruble down with it, Yandex (YNDX +6.3%), Qiwi (QIWI +5%), VimpelCom (VIP +17.9%), and MTS (MBT +9.3%) are rebounding sharply today. Yandex is up 19% from a Tuesday morning low of $15.03.
    • Helping the group out: The ruble has rallied after Russia's Finance Ministry began selling foreign currency; Monday's big rate hike is undoubtedly also playing a role. The ruble/dollar exchange rate now stands at 60.6.
    | 1 Comment
  • Dec. 16, 2014, 9:35 AM
    • Yandex (YNDX -11.6%), Qiwi (QIWI -11.9%), VimpelCom (VIP -6.8%), and MTS (MBT -11.5%) continue to get battered as the ruble continues plunging in spite of the Russian central bank's decision to hike its key rate to 17%.
    • The ruble/dollar exchange rate has soared to 71.9. Though up on a ruble basis, Russia's MICEX index is down sharply on a dollar basis.
    • Yesterday: Yandex, Qiwi, VimpelCom, MTS slammed thanks to ruble's crash
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  • Dec. 16, 2014, 9:10 AM
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  • Dec. 15, 2014, 11:50 AM
    • The ruble is down over 6% today against the dollar amid ongoing worries about weak oil prices, sanctions, and capital flight. Yandex (YNDX -8.2%), Qiwi (QIWI -12.4%), VimpelCom (VIP -8.6%), and MTS (MBT -11.2%) are all seeing huge losses.
    • Yandex rallied on Friday after Google announced it's shutting down its Russian engineering office. With the ruble/dollar conversion rate now at 62:1 (up from less than 40:1 earlier this year), Yandex trades for 21x 2015E EPS.
    | 5 Comments
  • Dec. 12, 2014, 11:33 AM
    • In response to a new law requiring Internet companies to store their users' personal data within Russia (seen by critics as an attempt at censorship), Google (GOOG -1%) is shutting down its Russian engineering office.
    • Nonetheless, Google insists it will increase its business investment in Russia next year, and says it still has "a dedicated team in Russia" to support local users.
    • Yandex (YNDX +4.2%) has rallied following the news. LiveInternet.ru estimates Yandex had 60% of the Russian search market in Q3, and Google 31%.
    • Google shut down its Chinese search engine (Google.cn) in 2010 rather than continue censoring its results. This week, the company announced it's shutting down Spain's version of Google news in response to a law requiring it to pay publishers for excerpting content.
    | 12 Comments
  • Dec. 8, 2014, 10:37 AM
    • Russia's MICEX Index is down 2.9%, as worries about plunging oil prices (coming in the wake of sanctions placed earlier this year) continue taking a toll. WTI crude is down $1.46 today to $64.38, after Morgan Stanley slashed its oil price forecasts.
    • Yandex (YNDX -7.3%), Qiwi (QIWI -6.5%), VimpelCom (VIP -5%), and MTS (MBT -5.5%) aren't faring well in U.S. trading.
    • ETFs: RSX, RUSL, RUSS, ERUS, RBL
    | 10 Comments
  • Oct. 23, 2014, 9:26 AM
    • Yandex (NASDAQ:YNDX) now expects 27%-30% 2014 ruble-based revenue growth, improved from a prior 25%-30%. The ruble has fallen sharply against the dollar this year.
    • Q3 adjusted EPS of RUR12.00 ($0.29) beat an RUR10.43 consensus.
    • Sales of text ads on Yandex's sites (driven by search ads, 69% of revenue) +33% Y/Y to RUR7.01B. Ad network text ad sales +19% to RUR2.34B. Display ad sales (mostly on Yandex sites) +6% to RUR782M.
    • Traffic acquisition costs fell to 21.2% of revenue from 21.8% in Q2 and 22% a year ago. Paid clicks +19% Y/Y (down from Q2's +36%), ad prices +8%, search query volume +13% (down from Q2's +19%). The slowdown is tied to Yandex entering the second year of its deal to handle paid search for Mail.ru.
    • R&D spend rose to 16% of revenue from 14.4% a year ago. But SG&A fell to 13.9% of revenue from 16.3%.
    • Q3 results, PR
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  • Oct. 23, 2014, 9:10 AM
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  • Oct. 23, 2014, 6:02 AM
    • Yandex (NASDAQ:YNDX): Q3 Adj. Net Income of RUR3.9B
    • Revenue of RUR13.1B (+28.2% Y/Y) beats by RUR420M.
    • Press Release
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  • Sep. 5, 2014, 12:16 PM
    • Yandex (YNDX +5.3%), Qiwi (QIWI +3.8%), and VimpelCom (VIP +2.4%) are rallying after the Ukranian government and pro-Russian rebels signed a cease-fire.
    • The group rallied on Wednesday after Vladimir Putin stated a cease-fire could be reached this week.
    • In spite of today's news, the U.S. and NATO have agreed to a fresh round of Russian sanctions, while expressing skepticism the cease-fire will hold.
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  • Sep. 3, 2014, 11:19 AM
    • Russian tech/telecom names are higher Vladimir Putin declared a Ukraine cease-fire could be reached this week, and that his views on ending the fighting are "very close" to those of Ukranian President Petro Poroshenko.
    • Gainers: YNDX +4.2%. QIWI +2.2%. MBT +3.4%. VIP +2.3%.
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Company Description
Yandex NV is an Internet company. It offers access to its search engine through personal computers, mobile phones, tablets, and navigation and other digital devices.