24/7 Wall St. » SOHU

Chinese Internet Stocks Fall on Dangdang Results

Paul Ausick — Thu, 17 May 2012 17:07:33 +0000

China’s largest B2C e-commerce company, E-Commerce China Dangdang Inc. (NYSE: DANG) reported first quarter results last night that did not stir investors much until they got to the forecast. The company’s loss per ADR was smaller than expected, -$0.20 compared with a consensus estimate of -$0.24 on revenue of $172.1 million, which was lower than the expected $175.6 million. The outlook was pretty weak though.

Dangdang said it expects second quarter revenue of about $187.5 million, substantially lower than the consensus estimate of $202.5 million. As with first quarter results, revenue continues to grow by 50% or better year-over-year, but that’s not good enough. Renren Inc. (NYSE: RENN), China’s answer to Facebook, posted higher revenue in the first quarter, but costs soared 90% and the company’s forecast came in lower than the consensus estimate.

SINA Corp. (NASDAQ: SINA), which owns the country’s largest Twitter-like site Weibo, showed significant growth in its first quarter results as well, but it forecast higher costs and continued weakness in advertising as weighing down future results. Sohu.com Inc. (NASDAQ: SOHU), China’s third largest search engine, also forecast weak advertising sales for the second quarter. China’s search engine leader, Baidu Inc. (NASDAQ: BIDU), recently shuttered an e-commerce competitor to Dangdang and launched its own low-cost Android-based phone as the company continues to extend its reach beyond search. Baidu forecast lower-than-expected second quarter revenues as well.

Youku Inc. (NYSE: YOKU), a YouTube look-alike, is scheduled to announce results after markets close today. The company is expected to post an EPS loss of -$0.21 on revenue of $41.2 million. Another Internet video player, Tudou Holdings Ltd. (NASDAQ: TUDO) is scheduled to announce results next Monday and is expected to post an EPS loss of -$0.88 on revenue of $21.75 million.

China’s Internet users now number more than 550 million, according to a report at Mashable, but the annual growth rate has tumbled from a mind-boggling 50%+ to around 12%. And China trails only the US in the number of Internet shoppers, with 145 million people having made online purchases last year. The average number of purchases per month per customer is 8.4, well-above the second place US, where a customer averages 5.2 purchases a month.

But Chinese Internet companies have had a difficult time translating these numbers into yuan. The prevailing view among analysts appears to be that the revenue dam will burst real soon now, but not a single one of these companies has a higher share price today than it did a year ago. Dangdang is down a whopping -68% over the past 12 months and both SINA and Renren are off more than -50%. Baidu, which has lost just -9% in the past year, is the best performer. That’s a pretty sorry showing. Expecting this to change anytime soon may be wishful thinking.

Shares of Dangdang are off -15% in the early afternoon today, at $6.36 in a 52-week range of $4.11-$22.45. Shares of the other Chinese Internet players are also down this afternoon, but most by less than -3%.

Paul Ausick

Filed under: ADR, China, Earnings, Internet Tagged: BIDU, DANG, RENN, SINA, SOHU, TODU, YOKU

24/7 Wall St. Closing Bell (TRP, DMD, ARII, CHK, KFT, DG, KALU, LDK, HUM, SNH, SOHU, ACI, ADM, RATE, BRCM, DPZ, ODP, PFE, SIRI, VLO, BKS, SUN, PAY)

Paul Ausick — Mon, 30 Apr 2012 20:13:01 +0000

The major US stock indexes opened slightly lower this morning and continued drifting lower all day. The Chicago PMI report got the day started on the wrong foot, showing a decline in spending even though personal income rose in March (our coverage here). Spain’s slip into recession did not help (our coverage here) and a report on global unemployment doesn’t offer much hope for economic expansion (our coverage here). The US dollar index rose slightly today, now up 0.05% at 78.780. The GSCI commodity index is up 0.35% at 684.45, with commodities mixed. Cocoa and orange juice posted sharp declines today. WTI crude oil closed down -0.1% at $104.87/barrel, and Brent crude trades down -0.24% at $119.54/barrel. Gold settled down less than -0.1% today, at $1,664.20/ounce, and an overall loss for the month of April of -0.5%.

The unofficial closing bells put the DJIA down nearly 15 points to 13,213.63 (-0.11%), the NASDAQ fell nearly 23 points (-0.74%) to 3,046.36, and the S&P 500 fell -0.39% or more than 5 points to 1,397.91.

There were several analyst upgrades and downgrades today, including Demand Media Inc. (NYSE: DMD) cut to ‘equal weight’ at Evercore; TransCanada Corp. (NYSE: TRP) cut to ‘hold’ at Desjardins; American Railcar Industries Inc. (NASDAQ: ARII) raised to ‘neutral’ at UBS; Chesapeake Energy Corp. (NYSE: CHK) raised to ‘outperform’ at BMO Capital; Kraft Foods Inc. (NYSE: KFT) raised to ‘overweight’ at JPMorgan; Dollar General Corp. (NYSE: DG) raised to ‘strong buy’ at Raymond James; and Kaiser Aluminum Corp. (NASDAQ: KALU) raised to ‘buy’ at Dahlman Rose.

Earnings reports since markets closed last Friday have led to some price changes as of the last half hour of trading today: LDK Solar Co. Ltd. (NYSE: LDK) is up 10.8% at $3.28 (our coverage here); Humana Inc. (NYSE: HUM) is down -8.4% at $80.49; Senior Housing Properties Trust (NYSE: SNH) is up 0.32% at $22.09; and Sohu.com Inc. (NASDAQ: SOHU) is down -7.4% at $51.62.

Tomorrow we get earnings from Arch Coal Inc. (NYSE: ACI), Archer Daniels Midland Co. (NYSE: ADM), Bankrate Inc. (NASDAQ: RATE), Broadcom Corp. (NASDAQ: BRCM), Chesapeake Energy Corp., Domino’s Pizza Inc. (NYSE: DPZ); Office Depot Inc. (NYSE: ODP); Pfizer Inc. (NYSE: PFE); Sirius XM Radio Inc. (NASDAQ: SIRI); and Valero Energy Corp. (NYSE: VLO).

Other standouts from today include the following stocks:

Barnes & Noble Inc. (NYSE: BKS) is up about 54% at $21.07 after posting a new 52-week high of $26.00 earlier today. The company has created a joint venture with Microsoft Corp. (NASDAQ: MSFT). More coverage here.

Sunoco Inc. (NYSE: SUN) is up 19.5% at $48.89 after posting a new 52-week high of $49.50 earlier today. The company is merging with Energy Transfer Partners L.P. in a deal worth about $5.3 billion. More coverage here.

VeriFone Systems Inc. (NYSE: PAY) is down -12.7% at $47.52. The company’s stock was downgraded at Deutsche Bank, along with comments that the company was inflating its organic growth estimates.

Stay tuned for Tuesday. Richmond Fed President Jeffrey Lacker, Minneapolis Fed President Naryana Kocherlakota, San Francisco Fed President John Williams, and Philadelphia Fed President Charles Plosser are all giving speeches. Motor vehicle sales are expected to be reported throughout the day. We have noted the following events on the schedule (all times Eastern):

10:00 a.m. – Institute for Supply Management manufacturing index
10:00 a.m. – Construction spending
11:30 a.m. – 4- and 52-week bill auctions

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ACI, ADM, ARII, BKS, BRCM, CHK, DG, DMD, DPZ, HUM, KALU, KFT, LDK, ODP, PAY, PFE, RATE, SIRI, SNH, SOHU, SUN, TRP, VLO

24/7 Wall St. Top Analyst Calls of the Week (AONE, ALU, AMSC, NLY, AAPL, CSCO, COH, CSTR, COP, DLR, IBM, LF, MMM, M, OPEN, POST, SIRI, SOHU, TRLG, ZOLT)

Administrator — Sat, 11 Feb 2012 15:53:52 +0000

This last week was very busy, and Friday’s disappointing trading day skewed many research reports. Each morning we track analyst upgrades and downgrades and over the weekend we review each to see which stood out as highly insightful, or which were great money-makers for investors. Of course, there are some really bad calls that come about too. For better or worse, these make up the 24/7 Wall St. Top Analyst Calls of the Week.

This last weeks most featured reports were in shares of the following: A123 Systems, Inc. (NASDAQ: AONE); Alcatel-Lucent S.A. (NYSE: ALU); American Superconductor Corporation (NASDAQ: AMSC); Annaly Capital Management Inc. (NYSE: NLY); Apple Inc. (NASDAQ: AAPL); Cisco Systems, Inc. (NASDAQ: CSCO); Coach, Inc. (NYSE: COH); Coinstar, Inc. (NASDAQ: CSTR); ConocoPhillips (NYSE: COP); Digital Realty Trust, Inc. (NYSE: DLR); International Business Machines Corporation (NYSE: IBM); Leapfrog Enterprises Inc. (NYSE: LF); 3M Co. (NYSE: MMM); Macy’s Inc. (NYSE: M); OpenTable Inc. (NASDAQ: OPEN); Post Holdings Inc. (NYSE: POST); Sirius XM Radio Inc. (NASDAQ: SIRI); Sohu.com Inc. (NASDAQ: SOHU); True Religion Apparel, Inc. (NASDAQ: TRLG); and Zoltek Companies, Inc. (NASDAQ: ZOLT).

We have summarized each call and either added in trading color or provided a link to more data on each.

A123 Systems, Inc. (NASDAQ: AONE) was a highly influential call from a firm not very well known. The battery maker was downgraded on fears that Fiskar will not be able to keep buying from them. This fell 23% after it was cut to Sell at Wunderlich, but the price target was the real kicker: $0.50. Ouch.

Alcatel-Lucent S.A. (NYSE: ALU) was sure a wrong-way call of the week. The perpetually turning-around communications equipment maker was downgraded to ‘Sell’ at S&P Equity Research ahead of earnings and the stock closed up almost 13% at $2.19 on Friday.

American Superconductor Corporation (NASDAQ: AMSC) was inadvertently a really bad call because it got caught up in a weak stock market day and got caught on a day when alternative energy players took it on the chin. This one was raised to ‘Buy’ at Citigroup on Friday and closed don over 8% at $5.11 after opening at $5.36 on the day. Oops.

Annaly Capital Management Inc. (NYSE: NLY) had a rough week based in part on a mortgage foreclosure settlement. We expect the debate to continue over the real impact, but this high dividend yield mortgage REIT was downgraded to ‘Market Perform’ and the price target was cut to $16.00 from $17.50 by Friedman, Billings & Ramsey this last week.

Apple Inc. (NASDAQ: AAPL) keeps hitting new all-time highs each day. Apparently it is going to keep doing that for quite some time if Canaccord Genuity gets its way. That firm listed many reasons to raise it price target to $665 this last week.

Cisco Systems, Inc. (NASDAQ: CSCO) was better than what we feel the street gave it credit for on earnings. Credit Suisse only reiterated an ‘Outperform’ rating ahead of earnings, but what stood out was the $26.00 price target because that is about $4.50 higher than the consensus price target and that is also close to where the stock petered out in 2010.

Coach, Inc. (NYSE: COH) may be gutsy and may be an afterthought. It was recently given a strong tout by CNBC’s Jim Cramer as his luxury stock of choice, but on Friday it was raised started as ‘Buy’ with a target of $85 at Citigroup. This came on a day when the stock hit an all time high and closed at $74.54.

Coinstar, Inc. (NASDAQ: CSTR) is already up big over the last week, but we have never really considered it just as a value stock. Don’t tell that Zacks… On Friday it was named as Zacks’ Value Stock of the Day.

Filed under: 24/7 Wall St. Wire, Analyst Calls, The Week Tagged: AAPL, ALU, AMSC, AONE, COH, COP, CSCO, CSTR, DLR, IBM, LF, M, MMM, NLY, OPEN, POST, SIRI, SOHU, TRLG, ZOLT

Top Analyst Upgrades & Downgrades (AMGN, AUO, AONE, ELN, EXPE, IR, MMM, MRH, NYX, POST, RIMM, SOHU, AAPL)

Administrator — Thu, 09 Feb 2012 13:29:44 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Thursday morning.

Amgen Inc. (NASDAQ: AMGN) Cut to Perform at Oppenheimer; named as Bull of the Day at Zacks.
AU Optronics Corporation (NYSE: AUO) targets raised by Nomura and also by Credit Suisse.
A123 Systems, Inc. (NASDAQ: AONE) Cut to Sell at Wunderlich.
Elan Corp. (NYSE: ELN) Cut to Neutral at Credit Suisse.
Expedia Inc. (NASDAQ: EXPE) Cut to Hold at S&P Capital IQ.
Ingersoll-Rand plc (NYSE: IR) Raised to Outperform at Wells Fargo.
3M Co. (NYSE: MMM) Cut to Hold at Deutsche Bank.
Montpelier Re Holdings (NYSE: MRH) named as Bear of the Day at Zacks.
NYSE Euronext (NYSE: NYX) Resumed as Hold at Deutsche Bank.
Post Holdings Inc. (NYSE: POST) Started as Overweight at Barclays.
Research In Motion Ltd. (NASDAQ: RIMM) Reiterated Hold with $15 target at Canaccord Genuity.
Sohu.com Inc. (NASDAQ: SOHU) Cut to Hold at Deutsche Bank.

See the new high $665 price target on Apple Inc. (NASDAQ: AAPL) from this morning.

If you enjoyed the top analyst calls, you can sign up in the box below to join our morning email list to receive news directly in your inbox each morning. We include major analyst upgrades and downgrades, IPO and M&A news, special situation developments, observations on Warren Buffett and key market gurus, as well as special exclusive feature stories.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AAPL, AMGN, AONE, AUO, ELN, EXPE, IR, MMM, MRH, NYX, POST, RIMM, SOHU

Top Analyst Upgrades & Downgrades (NLY, MT, BP, CBOE, DMD, RDY, ING, MS, NOV, OPEN, SOHU, UBS, VSH, YUM)

Administrator — Wed, 08 Feb 2012 13:18:44 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Wednesday morning.

Annaly Capital Management Inc. (NYSE: NLY) Cut to Market Perform at FBR.
ArcelorMittal (NYSE: MT) Cut to Sell at S&P Capital IQ.
BP PLC (NYSE: BP) Raised Estimates by UBS; Cut to Hold at Soc-Gen.
CBOE Holdings, Inc. (NASDAQ: CBOE) Cut to Underperform at KBW.
Demand Media Inc. (NYSE: DMD) Cut to Underweight at Morgan Stanley.
Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) Cut to Neutral at Credit Suisse.
ING Group, N.V. (NYSE: ING) Cut to Neutral at Goldman Sachs.
Morgan Stanley (NYSE: MS) Cut to Hold at Collins Stewart.
National Oilwell Varco Inc. (NYSE: NOV) raised target to $96 at Argus.
OpenTable Inc. (NASDAQ: OPEN) Cut to Perform at Oppenheimer; Cut to Neutral at Credit Suisse; Raised to Overweight at Piper Jaffray.
Sohu.com Inc. (NASDAQ: SOHU) lowered targets by Credit Suisse and Nomura.
UBS AG (NYSE: UBS) Cut to Sell at Deutsche Bank.
Vishay Intertechnology, Inc. (NYSE: VSH) Raised to Overweight at JPMorgan.
Yum! Brands Inc. (NYSE: YUM) Raised to Neutral at Goldman Sachs.

Credit Suisse makes a change to its favorite biotech list.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: BP, CBOE, DMD, ING, MS, MT, NLY, NOV, OPEN, RDY, SOHU, UBS, VSH, YUM

Top Analyst Upgrades & Downgrades (AON, AZN, CSCO, DLR, DRIV, HSIC, IBM, PBY, CRM, SNH, SSW, SIRI, SOHU, SXL, THO, URBN, ZOLT)

Administrator — Tue, 07 Feb 2012 13:12:21 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street brokerage and research firms this Tuesday morning.

AON Corporation (NYSE: AON) Cut to Neutral at Citigroup.
AstraZeneca (NYSE: AZN) Cut to Underperform at BofA/ML.
Cisco Systems, Inc. (NASDAQ: CSCO) Reiterated Outperform with $26 target at Credit Suisse.
Digital Realty (NYSE: DLR) Started as Sell at Cantor Fitzgerald.
Digital River Inc. (NASDAQ: DRIV) Cut to Hold at Argus.
Henry Schein, Inc. (NASDAQ: HSIC) Cut to Neutral at Credit Suisse.
International Business Machines Corporation (NYSE: IBM) Started as Buy with $230 target at Stern Agee. (LINK: FULL DETAILS)
Pep Boys-Manny, Moe & Jack Inc. (NYSE: PBY) Cut to Hold at Argus.
Salesforce.com (NYSE: CRM) named Bear of the Day at Zacks.
Senior Housing Properties Trust (NYSE: SNH) Cut to Hold at Stifel Nicolaus.
Seaspan Corporation (NYSE: SSW) Cut to Market Perform at Wells Fargo.
Sirius Satellite Radio, Inc. (NASDAQ: SIRI) Started as Underweight at Barclays.
Sohu.com Inc. (NASDAQ: SOHU) downgraded to Hold at RBS and Cut to Neutral at Susquehanna.
Sunoco Logistics, LP (NYSE: SXL) named as Bull of the Day at Zacks.
Thor Industries, Inc. (NYSE: THO) named Value stock of the day at Zacks.
Urban Outfitters Inc. (NASDAQ: URBN) Cut to Sell at Brean Murray.
Zoltek Companies, Inc. (NASDAQ: ZOLT) Cut to Underperform at Needham (LINK: FULL SUMMARY).

JON C. OGG

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AON, AZN, CRM, CSCO, DLR, DRIV, HSIC, IBM, PBY, SIRI, SNH, SOHU, SSW, SXL, THO, URBN, ZOLT

24/7 Wall St. Closing Bell (FDX, WY, CMA, GLW, RDS-A, IDTI, MCK, PCL, CYOU, HUM, LAZ, L, SYY, SURW, CHUX, SOHU, GBG, DNDN)

Paul Ausick — Mon, 06 Feb 2012 21:07:48 +0000

US equity markets opened lower this morning and never moved into positive territory all day. Greek debt swap negotiations made no discernible progress today and there was no scheduled data on tap to move the market one way or the other. The dollar picked up strength against the euro today, but faltered against the British pound and the Japanese yen. The dollar index rose 0.1385 to 79.051. Crude oil was mixed with WTI crude down -0.76% at $97.10/barrel and Brent crude up 1.39% at $116.17/barrel. Gold closed down -0.9% at $1,724.90/ounce.

The unofficial closing bells put the DJIA down about 17 points to 12,845.20 (-0.13%), the NASDAQ fell almost 4 points (-0.13%) to 2,901.99, and the S&P 500 fell -0.04% or less than 1 point to 1,344.33.

There were several analyst upgrades and downgrades today, including FedEx Corp. (NYSE: FDX) raised to ‘buy’ at BofA/ML; Weyerhaeuser Co. (NYSE: WY) cut to ‘sell’ at UBS; Comerica Inc. (NYSE: CMA) raised to ‘outperform’ at RBS; Corning Inc. (NYSE: GLW) raised to ‘outperform’ at Piper Jaffray; and Royal Dutch Shell plc (NYSE: RDS-A) cut to ‘neutral’ at Credit Suisse.

Earnings reports since markets closed last week have led to some price changes as of the last half hour of trading today: Integrated Device Technology Inc. (NASDAQ: IDTI) is down -0.98% at $6.60; McKesson Corp. (NYSE: MCK) is up 1.71% at $82.18; Plum Creek Timber Co. Inc. (NYSE: PCL) is up 0.32% at $39.81; Changyou.com Ltd. (NASDAQ: CYOU) is down -12.43% at $25.50; Humana Inc. (NYSE: HUM) is down -5.8% at $84.90; Lazard Ltd. (NYSE: LAZ) is down -4.3% at $27.65; Loews Corp. (NYSE: L) is down -0.85% at $38.28; and Sysco Corp. (NYSE: SYY) is down -4% at $29.66.

Other standouts from today include the following stocks:

SureWest Communications (NASDAQ: SURW) is up more than 44% at $22.50 after posting a new 52-week high of $22.69 earlier. The telecom provider has agreed to be acquired by Consolidated Communications Holdings Inc. (NASDAQ: CNSL) for about $341 million, or $23/share.

O’Charley’s Inc. (NASDAQ: CHUX) is up nearly 42% at $9.81 after posting a new 52-week high of $9.88. The company has agreed to be acquired by Fidelity National Financial Inc. (NYSE: FNF) for $221 million, about $9.85/share.

Sohu.com Inc. (NASDAQ: SOHU) is down nearly -15% at $53.61. The Chinese internet company posted solid earnings, but its Q1 forecast was below expectations.

Great Basin Gold Ltd. (AMEX: GBG) is down -11% at $1.05. The junior gold miner reported preliminary results today that were worse than expected and lowered first quarter production estimates.

Dendreon Corp. (NASDAQ: DNDN) is up about 17.6% at $16.66. The drug maker is getting a boost from a negative report on a prostate cancer drug treatment that would compete with Dendreon’s Provenge.

Stay tuned for Tuesday. Federal Reserve chairman Ben Bernanke testifies before Senate Budget Committee. We have noted the following events on the schedule (all times Eastern):

11:30 a.m. – 4- and 52-week Treasury bill auction
3:00 p.m. – Consumer credit report

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: CHUX, CMA, CYOU, DNDN, FDX, GBG, GLW, HUM, IDTI, L, LAZ, MCK, PCL, RDS-A, SOHU, SURW, SYY, WY

Mid-day Movers (SURW, CHUX, BLRX, SOHU, CYOU)

Paul Ausick — Mon, 06 Feb 2012 17:35:29 +0000

At about noon, the DJIA is still down 43 points at about 12,819, the Nasdaq has made up some ground, but is still down about 8 points at around 2,898, and the S&P 500 has also made up some of its earlier losses but remains down about 3 points at 1,342.

Among the major movers at around noon today are SureWest Communications (NASDAQ: SURW), O’Charley’s Inc. (NASDAQ: CHUX), BioLineRx Ltd (NASDAQ: BLRX), Sohu.com Inc. (NASDAQL: SOHU), and Changyou.com Ltd. (NASDAQ: CYOU).

Shares of SureWest are up about 43% at $22.27. About 565,000 shares have been traded so far today, compared with a 3-month daily average of about 46,000 shares traded. The telecom provider has agreed to be acquired by Consolidated Communications Holdings Inc. (NASDAQ: CNSL) for about $341 million, or $23/share.

O’Charley’s is up nearly 42% at $9.80 after posting a new 52-week high of $9.88 earlier. Nearly 15 million shares have traded this morning, compared with a 3-month daily average of around 87,000. The company has agreed to be acquired by Fidelity National Financial Inc. (NYSE: FNF) for $221 million, about $9.85/share.

BioLineRx is up nearly 34% at $5.52. Nearly 2 million shares have traded this morning, compared with a 3-month daily average of about 158,000. The pharmaceuticals firm has signed a worldwide licensing agreement for its oral hepatitis C drug.

Sohu.com is down nearly -15% at $53.96. About 5 million shares have traded by mid-day, compared with a daily average of about 1.25 million. The Chinese internet company posted solid earnings, but its Q1 forecast was below expectations.

Changyou.com shares are down more than -12% at $25.56. More than 1 million shares have already traded this morning, compared with a 3-month daily average of about about 273,000 shares. The Chinese gaming company reported better-than-expected earnings today, but Sohu.com’s weakness is weighing on shares.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: BLRX, CHUX, CYOU, SOHU, SURW

Morning Movers (SURW, BLRX, THLD, SOHU, ANAC)

Paul Ausick — Mon, 06 Feb 2012 15:11:46 +0000

The three major US equities indexes opened lower this morning on continued worries about the still-pending Greek debt swap. The DJIA is about 43 points at about 12,819, the Nasdaq Composite is down nearly 15 points at about 2,891, and the S&P 500 is down more than 6 points at about 1,339.

There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include SureWest Communications (NASDAQ: SURW), BioLineRx Ltd. (NASDAQ: BLRX), Threshold Pharmaceuticals Inc. (NASDAQ: THLD), Sohu.com Inc. (NASDAQ: SOHU), and Anacor Pharmaceuticals Inc. (NASDAQ: ANAC).

After the first half hour of trading this morning, SureWest is up nearly 43% at $22.27 after posting a new 52-week high of $22.69. Volume is about 3x the daily average of about 46,000 shares traded. The telecom provider has agreed to be acquired by Consolidated Communications Holdings Inc. (NASDAQ: CNSL) for about $341 million, or $23/share.

BioLineRx is up about 38% at $5.69. Volume is about 9x the daily average of 158,000 shares traded. The pharmaceuticals firm has signed a worldwide licensing agreement for its oral hepatitis C drug.

Threshold is up more than 25% at $3.75 after posting a new 52-week high of $3.96 earlier. Volume is nearly 20x the daily average of about 348,000 shares traded. The pharmaceuticals firm has announced a global development deal with Germany’s Merck last week, and the stock continues to soar after more than doubling last Friday.

Sohu.com is down about -15% at $53.58. Volume is more than double the daily average of about 1.25 million shares traded. The Chinese internet company posted solid earnings, but its Q1 forecast was below expectations.

Anacor is down more than -8% at $6.80. Volume is already above the daily average of about 287,000 shares traded. The company manufactures materials used in solar PV modules, and lowered its fourth-quarter guidance this morning.

Intermec is down more than -11% at $7.77. Volume is already more than double the daily average of about 68,000 shares traded. The pharmaceuticals firm’s shares were halted this morning, before news that GlaxoSmithKline plc (NYSE: GSK) had halted a trial of Anacor’s drug to treat urinary tract infection.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ANAC, BLRX, SOHU, SURW, THLD

The Great Online Video Hype in China, Still Just Hype (YOKU, TUDO, SOHU, RENN)

Administrator — Tue, 27 Dec 2011 11:15:00 +0000

The craze for online video is everywhere. Billions upon billions have been invested by great companies, yet the business model has proven that not all efforts have endless financial return. New data from Analysys International is putting the value of Chinese online video at a mere 1.48 billion yuan despite some 139% growth from a year earlier and despite 48% growth sequentially.

The report noted that Youku Inc. (NYSE: YOKU), Tudou Holdings Limited (NASDAQ: TUDO) and Sohu.com Inc. (NASDAQ: SOHU) Video still maintained the top three spots in the China online video market this quarter. Youku’s share raised by 2.2%, while the gap between Tudou and Sohu Video was cut down to 1.2%. Tudou increased the copyright purchase and made the first tie market more competitive.

Also noted, “In the 2nd tie market, as a black horse Qiyi.com overtook Xunlei … Tencent started its original exclusive platform and it plans to increase differentiated content development and to join the online video market competition relying on its huge user volume.”

Another keynote is that Renren Inc. (NYSE: RENN), one of the worst IPOs of 2011, has announced its acquisition of video site 56.com for the equivalent of $80 million to increase its number of users and revenue volume.

To put this into a relative size, the translation is a market of about $235 million for the quarter when translated into dollar terms, even after 139% growth from a year earlier. The CIA World Factbook lists the estimated population of China as being 1.336 billion people. Is that really only a market worth a mere $0.175 per head in China?

This all assumes every company’s great Chinese accountants are counting the numbers properly as well.

JON C. OGG

Filed under: ADR, China, Internet, Media Tagged: RENN, SOHU, TUDO, YOKU