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Chinese internet companies grow their users bases and their ability to monetize them, could result in rapid revenue and earnings growth.
Vipshop Holdings Limited
Bitauto Holdings Limited
Jumei International Holding Limited
Fang Holdings Limited
NetEase (NASDAQ: NTES), the Chinese gaming company, has confirmed it's pursuing a secondary listing on the Hong Kong Stock Exchange. In a Securities and Exchange Commission filing, NetEase announced that it has filed a listing application with the Hong Kong Stock exchange. The Nasdaq exchange will remain the company's primary listing venue.
NEW YORK, May 30, 2020 -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Baidu, Inc. (NASDAQ: BIDU) between March 16, 2019, and.
Fang Holdings Limited (NYSE: SFUN) ("Fang" or the "Company"), a leading real estate Internet portal in China, today announced that it had filed its annual report on Form 20-F for the year ended December 31, 2019 (the "annual report") with the U.S. Securities and Exchange Commission (the "SEC") on May 27, 2020.
NEW ORLEANS, May 29, 2020 -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors of pending.
President Donald Trump said the U.S. will revoke its special treatment for Hong Kong and sanction Chinese government officials, among other measures, on Friday.
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]
Baidu (NASDAQ: BIDU), the Chinese tech giant that owns the country's top search engine, went public 15 years ago. Baidu remains a battleground stock for the bulls and bears. The bulls believe Baidu's dominance of China's search market, the growth of its streaming video unit iQiyi (NASDAQ: IQ), and the expansion of its ecosystem will support its long-term growth.
Autohome (ATHM) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Tuniu Corporation (Nasdaq: TOUR) ("Tuniu" or the "Company"), a leading online leisure travel company in China, today announced the promotion of Mr. Anqiang Chen to the Financial Controller of the Company, effective as of May 31, 2020. Mr. Chen's responsibilities at Tuniu include corporate finance, tax, funding and internal controls. Ms. Maria Yi Xin, who tendered her resignation as the Company's Chief Financial Officer effective as of May 31, 2020, will continue to serve as a consultant to the Company to assist with the transition.
(Bloomberg) -- JD.com Inc. and NetEase Inc. have won approvals to forge ahead with their Hong Kong share sales that could raise billions of dollars, as political turmoil leaves the city’s status as an international finance center clouded in uncertainty.Hong Kong Exchanges & Clearing Ltd. approved the secondary listing applications by the U.S.-listed Chinese tech companies, according to people familiar with the matter, asking not to be identified discussing private matters. Online gaming firm NetEase filed a preliminary prospectus with the exchange later on Friday, a confirmation that it has received the official green light.NetEase plans to list in Hong Kong on June 11, while China’s No. 2 online retailer JD aims to debut on June 18, Bloomberg News has reported. JD’s stock sale could raise at least $2 billion to help the e-commerce firm shore up its position in an increasingly competitive home market.Representatives for Hong Kong’s stock exchange, JD and NetEase declined to comment.Escalating tensions between Washington and Beijing are increasing risks for Chinese companies like JD and NetEase who seek to broaden their investor base. U.S. capital markets are becoming frosty toward Chinese firms, and fears over the impact of national security legislation set to be imposed on Hong Kong, including the resumption of protests in the city, have sent the local market into convulsions.What Hong Kong Losing Its ‘Special Status’ Would Mean: QuickTakeThe twin debuts would follow Alibaba Group Holding Ltd.’s $13 billion Hong Kong stock sale last year, hailed as a homecoming for Chinese companies and a win for Hong Kong stock exchange, which lost many of the largest tech corporations to U.S. bourses because it didn’t allow dual-class share voting at the time -- a requirement that’s since been relaxed.Shares in U.S.-listed Chinese companies have see-sawed since senators overwhelmingly approved legislation on May 20 that could bar the country’s firms from American exchanges. The decision cast a pall of uncertainty over hundreds of billions of dollars of shares in some of the world’s best-known companies.(Adds NetEase filing in second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
While the economic calendar is on the busier side, Trump’s news conference will be the main event, which is testing risk sentiment early on.
A U.S. judge on Thursday said institutional investors, including BlackRock Inc and Allianz SE's Pacific Investment Management Co, can pursue much of their lawsuit accusing 15 major banks of rigging prices in the $6.6 trillion-a-day foreign exchange market. U.S. District Judge Lorna Schofield in Manhattan said the nearly 1,300 plaintiffs, including many mutual funds and exchange-traded funds, plausibly alleged that the banks conspired to rig currency benchmarks from 2003 to 2013 and profit at their expense. "This is an injury of the type the antitrust laws were intended to prevent," Schofield wrote in a 40-page decision.
Good day,Industrial internet of things (IIoT) provider Samsara announced the introduction of driver efficiency scores to improve driver behavior and increase fleet safety. Fleets can monitor different driving parameters and use Samara's fleet efficiency reports to train drivers and reduce fuel consumption, while increasing overall operational sustainability. Samara's report aggregates data across several criteria, including instances of truck idling, speeding, cruise control, coasting, and high torque. That apart, it also records ‘anticipation events' that measure the number of braking events where the time from the accelerator to brake is less than a second. It also measures the time spent by truckers driving at the most efficient RPM, which directly corresponds to high fuel efficiency. Samsara believes that this report will help fleets identify inefficient driving habits, incentivize good behavior and facilitate effective feedback. Did you know?The shipments of core capital goods from the U.S. dropped 5.4% in April, according to the U.S. Department of Commerce. Core capital goods shipments are used to calculate equipment spending in the government's gross domestic product measurement. Core capital goods shipments fell 1.2% in March.Quotable"We see a historic fall in global energy investment, but the biggest hit is to the shale industry. It has always been under pressure, but now access to capital and investment confidence is drying up."– Fatih Birol, executive director of the International Energy Agency, while commenting on the possibility of U.S. shale sector investments dropping by half this year.In other newsBoeing details plans for mass job cutsBoeing Co. (NYSE: BA) will shed more than 13,000 employees in the aircraft manufacturer's first round of compulsory job cuts. (WSJ)Uber is scrapping tens of thousands of Jump bikes during a nationwide bike shortageUberTechnologies, Inc. (NYSE: UBER) scrap job comes at a time when many people are looking for alternate forms of transportation. (The Verge)China's Baidu finishes building ‘world's largest' test ground for autonomous vehicle, smart driving systemsBaidu, Inc. (NASDAQ: BIDU) says it has completed the world's largest site to test both autonomous driving and vehicle-to-infrastructure communication. (South China Morning Post)The shift to e-commerce poses a challenge for luxury brandsLeading brands should be able to handle rising e-commerce and mainland Chinese demand, but some fashion houses look unprepared. (Vogue Business)DHL acquires stake in Link Commerce developed by MallforAfricaDHL has acquired a minority stake in a turn-key e-commerce company that grew out of MallforAfrica.com – a Nigerian digital-retail startup. (TechCrunch)Final ThoughtsJapanese venture capital firm Softbank Corp. (OTC: SOBKY) has entered into an alliance with two other Japanese companies – Pacific Consultants (PCKK) and Oriental Consultants Global (OCG) – to help road maintenance programs in the U.S. by leveraging real-time data gathered from connected vehicles. In 2017, the American Society of Civil Engineers graded the country's roads very poorly, pointing out that 45% of U.S. roads were poor – a situation that has continued to worsen every year. With connected cars projected to account for over 70% of all vehicles sold in North America in 2020, data generated from these vehicles can be used across a variety of use cases. This Japanese collaboration will witness Softbank pooling its experience in the Internet of Things (IoT) and data analytics along with the road infrastructure acumen of PCKK and OCG, to create and sell insights to government bodies that are responsible for fixing road defects. Hammer down everyone!See more from Benzinga * Freightonomics: The Housing And Home Improvement Sector's Over-Achievement Driving Optimism For Recovery * Drilling Deep: Toll Collectors Are Handling A Lot Less Money * DOT Using Postal Service To Step Up Face Mask Distribution(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares of Momo (NASDAQ:MOMO) fell 3% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share were down 72.58% year over year to $0.17, which missed the estimate of $0.43.Revenue of $507,582,000 declined by 8.50% year over year, which beat the estimate of $493,940,000.Looking Ahead Momo hasn't issued any earnings guidance for the time being.Q2 revenue expected to be between $543,400,000 and $557,700,000.Details Of The Call Date: May 28, 2020View more earnings on MOMOTime: 08:00 AMET Webcast URL: https://edge.media-server.com/mmc/p/gjn8idekPrice Action Company's 52-week high was at $40.87Company's 52-week low was at $19.08Price action over last quarter: down 7.68%Company Profile Momo Inc provides mobile-based social networking services. The firm enables its users to establish and expand social relationships based on location and interests. Its platform includes Momo mobile application and a variety of related features, functionalities, tools, and services that it provides to users, customers and platform partners. It also operates a stand-alone video application called Hani, which features the live video content on its core Momo mobile application. The company principally derives its revenue from live video service, value-added services, mobile marketing services, mobile games and other services. It operates in three segments: Momo' service lines, Tantan's service lines, and QOOL's service line out of which Momo' service lines segment derives majority revenue.See more from Benzinga * Recap: Steven Madden Q1 Earnings * Recap: Canadian Solar Q1 Earnings * Recap: Triumph Group Q4 Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Momo Inc. (NASDAQ: MOMO) ("Momo" or the "Company"), a leading mobile social networking platform in China, today announced its unaudited financial results for the first quarter of 2020.
The U.S Dollar is in action later today, with the weekly jobless claims and durable goods orders in focus. There’s also Trump and Beijing to consider.
NEW ORLEANS, May 27, 2020 -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits: Bed.
RBNZ economic stress test analysis suggests banks in the country can continue to lend and prosper through a broad range of adverse scenarios.