Posts for Ticker ‘SNDA’

IPO Market Showing Concern (MG, TLCR, BSBR, EM, CLNY, RA, FIG, ARI, VITC, ECHO, CPC, GAME, SNDA, CYOU, SOHU, CPIX, OMER, BX)

bull-and-bear-image2It was just in August that practically every single initial public offering was trading above its IPO price.  The market had rallied significantly, and still rallied after that to just this week have a 10,000 handle on the DJIA.  Investors started warming to more risk-based capital, and investment bankers were finally able to get deals done.  Even waves and waves of secondary offerings were able to be absorbed merely by brokers being able to tell clients they could buy stock at an implied discount to the average price over the few days before.  But suddenly, the IPO market has turned out some real dogs with fleas.

Mistra Group (NYSE: MG) priced its offering at $12.50 on October 7.  While it traded as low as $12.17, it has escaped the hangman’s file of ‘busted deals’ as it is now a $13.51 stock.  The one thing that may have helped was that it priced under an initial range of $14 to $16 per share.  Talecris Biotherapeutics Holdings Corp. (NASDAQ: TLCR) also went into the busted category temporarily after hitting a low of $18.01 after a $19.00 pricing.  Fortunately, it is up at $19.97 so is also now out of the hangman’s eyes.  Still, an 8% gain and a 5% gain in this market might leave some investors feeling lonely.  Banco Santander Brasil S.A. (NYSE: BSBR) was a very large IPO of over 500 million shares at an implied $13.40, and this one got out of the “busted IPO” dungeon on Thursday and closed at $13.51 on Friday.  Before Thursday it had spent its 6 prior trading sessions as a busted IPO.

Emdeon Inc. (NYSE: EM) had traded above $18.00 briefly after its IPO priced at $15.50 in August. But now the healthcare revenue and payment cycle management solutions provider, which is supposed to be a healthcare winner ahead, closed down at $15.35 on Friday  and had been slightly lower during the week.  This was effectively a re-IPO as Emdeon had been public before after General Atlantic Partners acquired it and it also received an investment from Hellman & Friedman. It also has ties to James Clark, the Netscape founder and was part of Healtheon.

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Posted on: October 17, 2009 – 8:45 am in ADR, Biotech, Business Services, China, Editor's Picks, Entertainment, IPOs, Mergers and Buy Outs, Private Equity, REIT, Secondary Offering, Trading Alert, Value Investing, , , , , , , , , , , , , , , , , ,

Top Analyst Downgrades (ABB, MT, BDK, BWA, GR, KR, MHS, SNDA)

These are this Thursday morning’s top pre-market analyst downgrades and cautious research calls from Wall Street firms:

ABB (ABB) Cut to Hold at Deutsche Bank.
ArcelorMittal (MT) Cut to Hold at Societe Generale,
Black & Decker (BDK) Cut to Neutral at UBS.
Borg Warner (BWA) Cut to Neutral at KeyBanc.
Goodrich (GR) Cut to Buy from Conviction Buy List at Goldman Sachs.
Kroger (KR) Cut to Equal Weight at Morgan Stanley.
Medco Health (MHS) Cut to Neutral at Goldman Sachs.
Shanda (SNDA) Cut to Sell at Deutsche Bank.

JON C. OGG

Posted on: September 17, 2009 – 8:11 am in Analyst Calls, , , , , , , ,

Shanda IPO Taking Shape (SNDA, GAME, CYOU, SOHU)

The spin-off IPO for Shanda Games Limited (NASDAQ: GAME) is coming next week and the company has set the expected price band for its 63+ million American Depositary Shares in range of $10.50 and $12.50 per share.  The company is a wholly-owned subsidiary of Shanda Interactive Entertainment Limited (NASDAQ: SNDA) and will in many ways continue after the IPO to effectively be under the parent.
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Posted on: September 16, 2009 – 4:05 pm in ADR, China, Entertainment, IPOs, Video Games, , , ,

Top 10 Analyst Upgrades and Downgrades (ATHN, CMO, CYOU, CTXS, EBAY, LOGI, NTAP, SANM, SNDA, VMW)

These are the top ten analyst upgrades and downgrades we have seen from Wall Street this Thursday morning:

AthenaHealth (ATHN) Started as Buy at Maxim.
Capstead Mortgage (CMO) Cut to Market Perform at KBW.
Changyou.com (CYOU) Cut to Neutral at Susquehanna.
Citrix Systems (CTXS) Cut to Hold at Needham.
eBay (EBAY) Raised to Outperform at RBC.
Logitech (LOGI) Cut to Neutral at UBS.
Network Appliance (NTAP) Raised to Overweight at Piper Jaffray.
Sanmina-SCI (SANM) Raised to Neutral at Credit Suisse.
Shanda Interactive (SNDA) Cut to Negative at Susquehanna.
VMware (VMW) Raised to Buy at Needham.

Jon C. Ogg
July 23, 2009

Posted on: July 23, 2009 – 7:19 am in Analyst Calls, , , , , , , , , ,

Shanda Seeks Repeat Changyou.com and Sohu.com Performance (SNDA, CYOU, SOHU)

Money Stack ImageIPO investors have long been mixed about partial spin-offs, and just outright nervous when it comes to the term ‘tracking stock’ in an IPO.  Regardless of how you feel, it is impossible to deny whether or not the Changyou.com (NASDAQ: CYOU) spin-off IPO from Sohu.com (SOHU) has been successful.  In early April the IPO came out at a premium open. Shanda Interactive Entertainment Limited (NASDAQ: SNDA) now plans to submit a draft registration statement on a confidential basis to the SEC for a possible IPO of its Shanda Games Limited.  This is the online games business.
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Posted on: May 26, 2009 – 3:53 pm in ADR, China, Entertainment, IPOs, Video Games, , ,

Early Bird Analyst Downgrades (CEDC, IFX, OVTI, PALM, SNDA)

Down_arrow_redThese are some of the early bird analyst downgrades and negative calls we have seen early this Wednesday morning:

  • Central European Distribution (CEDC) Cut to Neutral at JPMorgan.
  • Infineon (IFX) Cut to Sell at RBS.
  • OmniVision Tech (OVTI) Cut to Underperform at Baird.
  • Palm (PALM) Cut to Neutral at Merrill Lynch (late yesterday call).
  • Shanda Interactive (SNDA) targets cut at Citigroup and Credit Suisse.

Jon C. Ogg
December 3, 2008

Posted on: December 3, 2008 – 7:07 am in Analyst Calls, , , , ,

Day Trader Alert: Shanda Interactive Entertainment Ltd. (SNDA)

Shanda_logoShanda Interactive Entertainment Ltd. (NASDAQ: SNDA) is seeing an exponential volume surge at the open.  The Chinese interactive gaming software company has now seen more than 3.4 million shares trade hands and shares are up almost 1% at $28.22.  Shanda’s average daily volume is about 900,000 shares and today’s volume surpassed its post-earnings rally of 3.17 million shares.

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Posted on: September 10, 2008 – 8:47 am in Secondary Offering, Stock Buybacks, Video Games,

Top Pre-Market Analyst Upgrades (ADS, AUTH, BRCM, EXC, NVLS, SAI, SNDA)

These are the top upgrades and positive analyst calls we are seeing this Thursday morning:

  • Alliance Data (ADS) Started as Buy at B of A.
  • AuthenTec (AUTH) Started as Buy at S&P Equity Research.
  • Broadcom Corp. (BRCM) Started as Outperform at Credit Suisse.
  • Excelon (EXC) Raised to Buy at Jefferies.
  • Novellus Systems (NVLS) Raised to Overweight at Morgan Stanley.
  • SAIC (SAI) Raised to Outperform at at Wachovia.
  • Shanda Interactive (SNDA) Raised to Outperform at Oppenheimer.

Jon C. Ogg
September 4, 2008

Posted on: September 4, 2008 – 6:30 am in Analyst Calls, , , , , , ,

Top Pre-Market Analyst Downgrades (KELYA, KLAC, LRCX, MRVL, PNY, RHI, SNDA, XLNX)

These are the top downgrades and negative analyst calls we are seeing this Thursday morning:

  • Kelly Services (KELYA) Cut to Sell at Citigroup.
  • KLA-Tencor (KLAC) Cut to Equal-weight at Morgan Stanley.
  • Lam Research (LRCX) Cut to Underweight at Morgan Stanley.
  • Marvell Technology (MRVL) Started as Neutral at Credit Suisse.
  • Piedmont Natural Gas (PNY) Cut to Neutral at Baird.
  • Robert Half (RHI) Cut to Sell at Citigroup.
  • Shanda Interactive (SNDA) has seen estimate and targets cut by Citigroup, JPMorgan, and Goldman Sachs.
  • Xilinx (XLNX) Started as Neutral at Credit Suisse.

Jon C. Ogg
September 4, 2008

Posted on: September 4, 2008 – 6:26 am in Analyst Calls, , , , , , , ,

24/7 Wall St. Day-Trading Alerts (ABK)(MFE)(SNDA)

95129cVS Investor posted several day-trade alerts.

The first was for McAfee (MFE) which was hammered by analyst downgrades.

Ambac (ABK) spiked up 20% on strong volume.

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Posted on: September 3, 2008 – 9:07 am in Trading Alert, , , ,

Top 10 Pre-Market Analyst Calls (ALU, CHS, LONG, IFX, JNPR, MAR, MFA, NSC, SNDA, VVUS)

These are ten of the analyst calls we are focusing on this Thursday morning:

  • Alcatel-Lucent (NYSE: ALU) Raised to Neutral from Sell at Goldman Sachs.
  • Chico’s FAS (NYSE: CHS) cut to Sell at Citigroup.
  • eLong (NASDAQ: LONG) Cut to Sell from Hold at Citigroup.
  • Infineon (NYSE: IFX) Cut to Reduce at Oppenheimer.
  • Juniper Networks (NASDAQ: JNPR) cut to Neutral at UBS; started as Hold at Lazard.
  • Marriott International (NYSE: MAR) Cut to Equalweight at Morgan Stanley.
  • MFA Mortgage (NYSE: MFA) raised to Outperform at Keefe Bruyette Woods.
  • Norfolk Southern (NYSE: NSC) Raised To Buy from Neutral at Merrill Lynch.
  • Shanda Interactive (NASDAQ: SNDA) Cut to Hold from Buy at Citigroup.
  • Vivus (NASDAQ: VVUS) cut to Market Perform at Wachovia.

Jon C. Ogg
May 29, 2008

Posted on: May 29, 2008 – 6:55 am in Analyst Calls, , , , , , , , , ,

Skype Get Compeitition In China From Baidu (BIDU)

Management at Skype is under pressure from its parent Ebay (EBAY) to deliver some revenue. The company’s last 10-Q shows "communications revenue", Skype, with revenue of $89 million. Skype had 220 million registers users at the end of Q2, so the yield per is pretty poor.

Now Chinese search engine leader Baidu (BIDU) is launching an instant messaging platform that is aimed at services like GTalk and Skype. Ebay would probably not like having a competitor in the world’s most populated market. But, it will be getting one nonetheless.

Baidu plans to use its large customer base to funnel users to its IM feature.

Shanda Interactive (SNDA) also plans to launch a fully featured IM product.

China is currently the second largest PC market in the world and is already the largest handset market. Expanding competition for messaging and VoIP there could do some real harm to Skype’s revenue plans.

Douglas A. McIntyre

Posted on: August 6, 2007 – 4:44 am in Uncategorized, , ,