Tag Archives: stocks

Why Qihoo, YY, Going-Private Chinese Tech Stocks Are Rebounding

U.S.-listed Chinese stocks  Qihoo 360 ( QIHU ), YY ( YY ), E-Commerce China Dangdang ( DANG ),  Momo ( MOMO ) and Vianet ( VNET ) rebounded Tuesday after tumbling for days on reports that Chinese regulators might put the brakes on their plans to delist from the American market and relist in mainland China. The China Securities Regulatory Commission is mulling limits on the number of reverse mergers from previously foreign-listed companies, sources told Bloomberg. But that eased fears of an outright ban. YY YY shares gained 5% in afternoon trade on the stock market today  but have tumbled about 17% since last Wednesday alone. YY stock sliced both its 50-day and 200-day lines on Friday. Reports surfaced late last week of possible regulatory scrutiny regarding the music and entertainment social network. Qihoo 360 After losing 11.3% Monday and briefly sipping below its 200-day line, Qihoo shares rebounded more than 8%. The China-based search engine and security firm announced in December a $9.3 billion deal to go private. Qihoo is a rival to much-larger Baidu ( BIDU ). Baidu has its own problems involving sponsored posts, with the stock edging down Tuesday but tumbling 13% so far this month. Momo Momo, which said last June that it had received a going-private bid from its CEO and affiliates, rose 8% intraday but remain 21% below its close of May 4’s trading session. Momo, a Chinese mobile dating app, is currently trading below its 50-day and 200-day levels. Dangdang Dangdang shares perked up nearly 11% intraday Tuesday after tumbling for three straight trading days, including a 13.3% free fall Monday. The e-commerce firm received a going-private proposal last July. Vianet Vianet rose 15% intraday after crashing 29% over the prior three sessions to the lowest level since September 2014. The Internet data carrier got a buyout offer last June. The China Securities Regulatory Commission believes some of these companies’ valuations are too high, Bloomberg  reported, citing people familiar with the matter.

Canadian Solar’s Sales, EPS Expected To Decline For Fifth Time

Canadian Solar ( CSIQ ) stock continued a nine-day losing streak Tuesday — toppling amid a broad solar inferno — ahead of its Q1 report slated early Wednesday when analysts expect the panel-maker to report a fifth straight quarter of declining sales and earnings. Midday on the stock market today , Canadian Solar stock fell 2%, drawn down on SolarCity ( SCTY ) and Vivint Solar ‘s ( VSLR ) disappointing Q1 reports late Monday. SolarCity and Vivint Solar stocks fell 25% and 5%, respectively. Year-to-date, Canadian Solar stock is down 47%. For Q1, the consensus of 10 analysts polled by Thomson Reuters expects Canadian Solar to report $663.7 million in sales and 14 cents earnings per share minus items, down 23% and 87%, respectively, vs. the year-earlier quarter. Canadian Solar’s sales and EPS have declined for four straight quarters, on a year-over-year basis. Previously, Canadian Solar guided to $645 million to $695 million in Q1 sales, and 1.085 gigawatts to 1.135 GW in module shipments, which would be down 10% at the midpoint vs. the year-earlier quarter. The company also expects 15 megawatts in shipments to its utility-scale solar projects, but revenue from that may not be recognized in Q1.

How Facebook, Amazon Are Propping Up The ‘FANG’ Name

Facebook ( FB ), Amazon ( AMZN ), Netflix ( NFLX ) and Google owner Alphabet ( GOOGL ) are some of the hottest names in the stock market right now, but they are not all performing too hot at this time. Only one of the “FANG” stocks has achieved a significant gain so far this year, and that’s Facebook. The social networking giant has seen three straight quarters of faster bottom line growth as it continues to capture more ad sales and grab more active users. Reasons To ‘Like’ Facebook Facebook has risen 14% so far this year, through Monday’s close. The stock is now looking to close above the 120 price level for the first time ever as it climbs 0.5% to 119.80 intraday. Shares are still trading in buy range after gapping up on the latest quarterly report. Amazon Extended From Breakout Though Amazon has only gained less than 1% for the year through Monday, it’s on a hot streak. Shares presented a buying opportunity ahead of the e-commerce giant’s most recent quarterly earnings and the stock is now extended 16% from the pivot as it hits a new all-time high Tuesday with a 2.7% intraday gain. Amazon announced Tuesday that it’s launching Amazon Video Direct, a rival to Alphabet’s YouTube. Can Netflix Regain Composure? Netflix is down 21% for the year amid steep costs to fuel its international expansion. Netflix also issued weak guidance for subscriber additions in the second quarter. Shares gapped down after the report, and are now trading below their 50-day and 200-day moving averages. Netflix is 31% below its all-time high reached in early December, but is up more than 1% Tuesday as the overall market rallies. Alphabet Sees Upward Momentum Alphabet is down 6% for the year through Monday, but the stock is seeing upward momentum as it looks to notch its fifth consecutive gain. On Friday, shares were able to retake the 200-day line. The stock is now nearing its 50-day line, which it dropped below after issuing its quarterly report. Alphabet is 9% below its all-time high reached in February, but up 1% Tuesday. Meanwhile, the Nasdaq has fallen a little over 5% in the same time period while the S&P 500 has risen less than 1%. And Apple ( AAPL ), still the biggest company by market cap, is down 11% for the year. Late last month, Apple missed quarterly estimates and logged its first ever decline in iPhone sales. Apple edged higher Tuesday but is near a 2-year low.