Shares of Chinese Internet stocks trading on U.S. exchanges rose sharply Wednesday after the Shanghai composite leapt 4.9% amid talk of yet another government stimulus to revive Chinese economic growth. It’s unclear whether the stock pop signals a real shift. But shares of Baidu (BIDU), Alibaba (BABA), NetEase (NTES), Ctrip.com (CTRP) and JD.com (JD) enjoyed the ride Wednesday. Baidu Going Global China’s top Web search provider has been expanding
Shares of online travel sites Priceline (PCLN), Expedia (EXPE), Ctrip (CTRP) and eLong (LONG) have perked up recently in the wake of estimate-beating earnings and acquisition bids. Priceline popped to a new all-time high in the stock market today after issuing view-topping second-quarter results. The travel website’s gross bookings rose 11% from a year ago. The stock gapped up 5.5% in fast turnover to a fresh high, nearing the 1400 mark for the
Sometimes less is more. That might be the case for Expedia (EXPE), which is expected to gain more from the sale of its 62.4% stake in eLong, a China-based online travel site, to Ctrip.com International (CTRP) and others for $671 million late last month, says Kevin Kopelman, an analyst for Cowen & Co. In a research report Wednesday, Kopelman raised his price target on Expedia stock to 130 from 118, and he maintained his outperform rating. “ELong