Shares of Chinese Internet search engine Baidu Inc (ADR) (NASDAQ:BIDU) are advancing after research firm Maxim Group upgraded the stock in a note to investors. Moreover, the growth of Baidu’s average revenue per user accelerated in the third quarter, demonstrating the company’s pricing power and growing ad revenues, He contended. She thinks the factors pushing up the company’s profit margins are likely to outweigh those pulling it down going forward. The analyst upgraded the stock to Buy from Hold, and set a $200 price target on the shares. Baidu Inc (ADR) (NASDAQ:BIDU) stock opened at $178.90 in last trading session, and closed at $179.66, trading in the range of $176.61 – $180.22. The stock showed a positive weekly performance of 2.50%.
An annual mobile video contest co-organized by by China Mobile Ltd. (NYSE: CHL; 0941 HK), and Youku Tudou Inc (ADR) (NYSE:YOKU), China’s leading Internet television company, broke new records in 2013 with 110 million yuan in mobile box office sales and one single title garnering more than 5 million yuan from mobile video-on-demand sales, which is a new record in China. Youku Tudou Inc (ADR) (NYSE:YOKU) shares closed at $33.69 on last trade day, by gaining 2.09%. Stock 52 week range is $15.54 – $35.73. Company’s market capitalization is $6.31 billion.
Sina Corp (Nasdaq: SINA) has released a report on user behaviors of its Twitter-like weibo microblogging services for 2013. Here is the summary. Users by Gender:Male/female: 50.1/49.9, basically unchanged from 2012.Way of Accessing Weibo: Weibo client: 76%, Desktop: 29%, WAP: 28%. SINA Corp (NASDAQ:SINA) stock climbed 0.89% and finished the last session at $85.72. The EPS of the stock remained 0.03. Company’s market capitalization is $5.71 billion.
Chinese Internet company Qihoo 360 Technology Co Ltd (NYSE:QIHU) denied on Thursday that e-commerce giant Alibaba Group Holding Ltd would take a stake in the company after its shares surged almost 10 percent on Wednesday on speculation the two were in talks. Qihoo 360 Technology Co Ltd (NYSE:QIHU) stock opened at $81.42 in last trading session and closed at $81.04. The 52 week range of the stock is $27.76 – $96.74 and the day range was $79.99 – $82.19.
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