Weibo Corp (ADR) (NASDAQ:WB) initially priced its IPO between $17 and $19 a share. However, as a result of slow growth of company’s user base, the range was further revised. Also, there are restrictions on freedom of media in China that greatly affect the success of the company. Weibo Corp (ADR) (NASDAQ:WB) shares after opening at $20.20 moved to $20.33 on last trade day and at the end of the day closed at $19.21. Company price to sales ratio in past twelve months was calculated as 21.15. Weibo Corp (ADR) (NASDAQ:WB) showed a negative weekly performance of -5.09%.
Baidu Inc. (NASDAQ:BIDU) reported better-than-expected earnings for the first quarter of its 2014 fiscal year (1QFY14; ended March 31, 2014) yesterday after the bell. Its stock, which closed up 0.25% in normal trading yesterday, shot up another 4.5% after markets closed.Baidu Inc (ADR) (NASDAQ:BIDU) shares advanced 1.98% in last trading session and ended the day on $162.91. BIDU return on equity ratio is recorded as 45.70% and its return on assets is 25.90%. Baidu Inc (ADR) (NASDAQ:BIDU) yearly performance is 76.42%.
CBS Corporation (NYSE:CBS) plans to increase the non-advertising dependent revenue streams (e.g., local TV station retransmission consent revenues) and emerging digital distribution platforms such as Netflix, Amazon and Hulu. CBS Corporation (NYSE:CBS) shares moved down -0.38% in last trading session and was closed at $58.05, while trading in range of $57.69-$58.36. CBS Corporation (NYSE:CBS) year to date performance is -8.77%.
SINA Corporation (Nasdaq:SINA) announced that it had received three notices from Beijing Municipal Cultural Market Administrative Law Enforcement Unit concerning alleged violations of PRC regulations on the Company’s distribution of certain unhealthy and indecent literary content on its online reading channel book.sina.com.cn and certain unhealthy and indecent video content uploaded by users on its website www.sina.com.cn. The Company was informed that as administrative penalties for these violations, the State Administration of Press, Publication, Radio, Film and Television proposes to revoke the Company’s Internet Publication License and the License for Online Transmission of Audio-Visual Programs, and Beijing Municipal Cultural Market Administrative Law Enforcement Unit proposes to impose an administrative fine for these violations. It is the Company’s understanding that these administrative penalties are part of the PRC government’s campaign to clean up unhealthy and indecent content on the Internet in China. The Company intends to fully cooperate with the relevant government authorities and take appropriate actions as necessary. SINA Corp (NASDAQ:SINA) weekly performance is -14.85%. On last trading day company shares ended up $48.15. SINA Corp (NASDAQ:SINA) distance from 50-day simple moving average is -24.36%. Analysts mean target price for the company is $88.64.