NetEase (NTES) stock tumbled Thursday after the China-based gaming and Internet company reported lower profit margins from some of its newer operations and experienced fallout from the temporary suspension of sales of some lottery products. NetEase stock was down 6% in early afternoon trading in the stock market today, near 132.50. NetEase stock is down 14% from its all-time high of 154.88 brushed in June. NetEase posted declines in the gross
Investors and analysts greeted the first earnings report by Cisco Systems (CSCO) under its new CEO with open arms, as the company’s fiscal Q4 beat late Wednesday sent shares rising to a nearly two-month high. Cisco stock was up nearly 4% in midday trading in the stock market today, near 29. Company watchers say the changing of the guard from John Chambers’ 20-year reign as CEO to that of newly promoted CEO Chuck Robbins seems to have reinvigorated
Morgan Stanley launched coverage of Intercept Pharmaceuticals (ICPT) with an underperform rating Thursday, saying Wall Street is overestimating the market opportunity in liver disease that Intercept aims to treat. “This is one of our highest-conviction, out-of-consensus calls,” wrote Andrew Berens in his initiation report. “Near term, our concerns focus on the FDA review of Intercept’s lead candidate, obeticholic acid (OCA), for approval in