Apr. 24, 2014, 4:50 PM
- Baidu (BIDU) expects Q2 revenue of RMB11.82B-RMB-12.11B ($1.901B-$1.948B), above a consensus of RMB11.55B.
- Revenue growth accelerated to 59.1% in Q1 from 50.4% in Q4. Online ad customers fell 1.1% Q/Q to 446K after falling 2.8% in Q4, but revenue per ad customer remained steady Q/Q and rose 44.1% Y/Y to RMB20.9K ($3,362).
- As promised, Baidu continues to invest aggressively: SG&A spend soared 136.9% Y/Y to $323.2M, thanks in large to mobile promotional efforts. R&D spend rose 57.5% to $205.4M.
- Traffic acquisition costs rose to 12.4% of revenue from 12.3% in Q4 and 10.2% a year ago. Content costs (fueled by online video licensing) rose to 4.1% of revenue from 3.8% in Q4 and 1.6% a year ago.
- Up in sympathy: SINA +1.6%. SOHU +1%. QIHU +2.6%. YY +1.1%. WB +1.5%. YOKU +1.7%.
- Q1 results, PR
Apr. 16, 2014, 9:55 AM
- Yelp (YELP +2.1%) has been upgraded to Buy by Citi.
- Cree (CREE +2%) has been upgraded to Buy by Needham ahead of its April 22 FQ3 report.
- Youku (YOKU +1.2%) has been upgraded to Neutral by Goldman.
- SouFun (SFUN +5.4%) has been upgraded to Buy by Goldman.
- Motorola Solutions (MSI -1.6%) has been cut to Neutral by Nomura a day after announcing the Zebra Technologies deal and issuing a Q1 warning.
- Control4 (CTRL +7%) has been upgraded to Strong Buy by Raymond James. Q1 results are due on May 1.
- Nimble Storage (NMBL +5.4%) has been upgraded to Buy by UBS.
- J2 Global (JCOM +7.1%) has been upgraded to Buy by Sidoti.
- Xoom (XOOM +1.4%) has been upgraded to Equal Weight by Evercore ahead of its April 22 Q1 report.
- Bitauto (BITA +9.1%) has been started at Outperform by Credit Suisse. Rival Autohome (ATHM +9.8%) has been started at Neutral, but is also up sharply.
- IPO underwriters have given A10 Networks (ATEN +3.7%) five bullish ratings and one neutral one.
Apr. 15, 2014, 4:55 PM| 8 Comments
Apr. 4, 2014, 11:43 AM
- Youku (YOKU -5.1%) is down 11% over the last two days. Though a broad selloff in tech momentum stocks is clearly a factor, concerns about slumping drama video views also seem to be taking a toll.
- T.H. Capital thinks Youku's average daily video views for newly-added hit TV dramas may have fallen to just 25M in Q1, after totaling 56M in Q4. Meanwhile, the firm thinks average daily views for Youku's in-house professional content may have only grown to 41.3M from 35.4M.
- Youku has been spending aggressively to acquire rights to popular Chinese TV dramas and other professional content, as it continues battling with Baidu, Tencent, and Sohu's online video platforms. Content spend equaled 37% of revenue in Q4, down slightly from Q3's 39%.
Mar. 26, 2014, 9:19 AM
- A source close to Youku (YOKU) tells Marbridge Consulting Tencent (TCEHY) has reached a tentative deal to buy a 20% stake in the Chinese online video platform for at least $300M in cash. Tencent would merge its own sizable online video business into Youku as part of the deal.
- Marbridge has a mixed track record with M&A rumors. Youku rallied last July on a rumor from a Chinese site regarding a Baidu stake purchase.
- Helping Marbridge's report appear plausible: Tencent has already spent nearly $400M this month to buy stakes in e-commerce firm JD.com and real estate site Leju, as it battles with Baidu and Alibaba for Chinese Web/mobile supremacy on a number of fronts.
Mar. 26, 2014, 9:14 AM
Mar. 11, 2014, 4:42 PM
- Alibaba (ABABA) is spending $805M to buy a 60% stake in ChinaVision Media, a Hong Kong-based producer of films and TV dramas.
- The deal represents a big expansion of the Chinese e-commerce giant's attempts to carve a foothold in China's fast-growing and fragmented online/mobile video market. Though Youku (YOKU) remains the market's biggest player, strong competition is provided by Baidu, Sohu, and Tencent.
- Alibaba, Baidu, and Tencent have been constantly finding ways to encroach on each others' turf. Yesterday, Tencent announced it's buying a 15% stake in #2 Chinese e-commerce firm JD.com.
Mar. 10, 2014, 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
Mar. 7, 2014, 5:37 PM
Feb. 28, 2014, 9:14 AM
Feb. 27, 2014, 5:53 PM
- Youku (YOKU) expects Q1 revenue of RMB680M-RMB720M, in-line with a consensus of RMB702.2M ($114.5M)
- Content spend (closely watched) equaled 38% of revenue in Q4, down from 39% in Q3 and 41% a year ago. Likewise, bandwidth costs fell to 20% of revenue from 21% in Q3 and 26% a year ago, and Y/Y opex growth of 35% trailed revenue growth of 42%.
- Youku chalks up its strong Q4 top-line performance to rising brand advertiser spend, something that fueled an increase averaging spending per customer.
- Q4 results, PR
Feb. 27, 2014, 5:38 PM
Feb. 27, 2014, 5:04 PM
Feb. 24, 2014, 10:04 AM| Comment!
Feb. 19, 2014, 9:48 AM
- SolarCity (SCTY -4.2%) has been cut to Neutral by Baird ahead of Monday's Q4 report.
- Red Hat (RHT +1%) has been upgraded to Outperform by Cowen.
- Gogo (GOGO +3.5%) has been upgraded to Overweight by Evercore. Q4 results are due on March 13.
- Youku (YOKU -3.3%) has been cut to Sell by Maxim. Q4 results are expected later this month.
- SMIC (SMI -0.9%) has been cut to Neutral by JPMorgan following its Q4 miss and soft Q1 guidance.
- Cabot Microelectronics (CCMP +4.6%) has been upgraded to Buy by D.A. Davidson.
Feb. 18, 2014, 4:03 PM
- On a good day for many tech momentum plays, solar and Chinese Internet stocks led the way.
- Solar names could be benefiting from Chinese government remarks suggesting Beijing remains open to trade talks to end its ongoing solar import dispute with the U.S. The comments come after the ITC added Chinese solar panels made with Taiwanese cells to its list of Chinese panels covered by import duties.
- Also: SunEdison (SUNE +6.6%) has filed for an IPO for its solar project business, a move that could entice other companies with major solar project ops to do the same.
- Solar gainers: FSLR +6.9%. SCTY +8%. JASO +12.6%. DQ +9.2%. CSUN +8.1%. YGE +5.5%. JKS +5.3%.
- Chinese Web gainers: CTRP +11.5%. CCIH +16.8%. RENN +11%. YOKU +6.1%. QIHU +6.9%. WUBA +10.6%. WBAI +7.9%. GOMO +9.1%. SOHU +5.6%.
- Solar ETFs: KWT, TAN
YOKU vs. ETF Alternatives
Youku Tudou Inc is an Internet television company in china. Its internet television platform enables consumers to search, view and share high-quality video content quickly and easily across multiple devices.
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