310.40 0.00 (0.00%)
After hours: 4:42PM EST
|Bid||309.55 x 800|
|Ask||310.83 x 1000|
|Day's range||298.38 - 311.77|
|52-week range||209.01 - 311.77|
|Beta (3Y monthly)||0.82|
|PE ratio (TTM)||46.54|
|Earnings date||18 Feb 2020 - 24 Feb 2020|
|Forward dividend & yield||16.56 (5.63%)|
|1y target est||305.95|
These three U.S.-listed Chinese stocks have done well so far this year and stand to do better than others should the prolonged U.S.-China trade dispute finally come to an end.
Tencent Music's (TME) third-quarter 2019 results benefit from expanded paid mobile subscriber base and increase in the number of users willing to pay for premium music service.
(Bloomberg) -- Baidu Inc. reported quarterly revenue that beat estimates after the Chinese search giant’s business proved resilient to an economic slowdown and competition from ByteDance Inc.Third-quarter revenue came in at 28.1 billion yuan ($4 billion). That was down slightly from a year earlier but exceeded the 27.5 billion yuan average of analysts’ projections. The company also projected revenue of 27.1 billion yuan to 28.7 billion yuan, generally in line with estimates. The shares jumped about 5% in extended trading.Baidu’s Netflix-style iQiyi Inc., which competes with Alibaba Group Holding Ltd. and Tencent Holdings Ltd., also reported revenue ahead of expectations. The results may assuage investors who are worried that the 19-year-old company is losing advertising sales to upstart ByteDance, which offers lower rates and more than a billion users on popular apps such as video services TikTok and Douyin. ByteDance also recently entered the online search business, Baidu’s main product. To offset a slowdown, the company has reduced spending.What Bloomberg Intelligence SaysBaidu’s sales growth may pick up mildly in the coming quarters as advertisers’ demand stabilizes and increases in competitive ad inventory slow. The company is building its own content ecosystem using Baijiahao, smart mini-programs and managed landing pages in a bid to retain users for its search engine, which is increasingly blocked from accessing competitor apps.\- Vey-Sern Ling, analystClick here for the research.Longer term, China’s economy is growing at its slowest pace in 30 years, which could diminish spending on Baidu ads. The company fell off the list of China’s five most valuable internet companies, trailing Meituan Dianping and NetEase Inc., after shedding more than 30% of its market value this year. In May, it posted its first loss since going public in 2005.(Updates with BI analyst’s comment in the fourth paragraph. A previous version of the story corrected currency of outlook in the second paragraph.)To contact the reporter on this story: Zheping Huang in Hong Kong at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Colum Murphy, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Seagate (STX) first-quarter results reflect sequential improvement in HDD exabytes shipments. Robust demand for 16-terabyte products holds promise.
IPG Photonics (IPGP) third-quarter earnings reflect soft demand for high-power CW lasers across China and Europe owing to macroeconomic headwinds.
(Bloomberg) -- China’s Youdao fell sharply in its first day of trading in New York, but its parent company is unfazed: Its long-term plan is to take public another one of its units, the popular NetEase Cloud Music streaming app.NetEase CEO William Ding said in an interview Friday that the company eventually will carve out the streaming-music service as a separate publicly traded company.And NetEase likely won’t stop there. “We have plans to make our businesses to run as an independent company, including Cloud Music,” among others, Ding said.Youdao, which is an online educational platform, stumbled in its debut as a public company in New York Stock Exchange trading on Friday, with shares closing at $12.50, down more than 26% from their IPO price of $17.Ding, the CEO of parent company NetEase, wouldn’t give a timeline for the IPO of the music-streaming unit, but said the company would make moves when the unit’s management is mature and the business has a leading market position.For its part, corporate sibling Youdao, with a market value of around $285 million, chose to go public in the U.S. following the footstep of parent NetEase, which went public on Nasdaq in 2000. For decades NetEase, with market value of $36 billion, has been the runner-up to the likes of Tencent in China’s internet landscape.NetEase’s music arm, launched in 2013, is a rival in second place to leader Tencent Music. It has been grappling with rising content costs, as it has to sub-license a big portion of songs from rival Tencent Music, which owns exclusive rights with top global record labels.Last year, Tencent Music raised $1.1 billion in its U.S. IPO, while NetEase’s music platform raised over $600 million in private funding from Baidu, General Atlantic, and others. Tencent Music has risen about 8% from its December IPO.Youdao isn’t alone in declining in its first day of trade when it comes to Chinese companies. On average, U.S.-listed shares of Chinese companies that went public in 2019 are down about 13% from their offer prices.To contact the reporters on this story: Yueqi Yang in New York at email@example.com;Zheping Huang in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Polina Noskova at email@example.com, Angela Moon, Bradley DavisFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- NetEase Inc.’s online education arm, Youdao Inc., begins trading on the New York Stock Exchange on Friday in what is set to be a test of appetite for U.S. initial public offerings by Chinese companies after poor performance this year.Youdao priced its IPO at $17 a share, people familiar with the matter said. It’s the first Chinese listing in the U.S. since 9F Inc. raised $85 million and started trading in mid-August, according to data compiled by Bloomberg.U.S. listings by Chinese companies have fared poorly this year, declining 25% on average, the data show. Moreover, fewer of them have opted to go public on American exchanges, with 22 Chinese firms raising $2.78 billion so far this year, a 64% drop from the same period last year.The ongoing U.S.-China trade war and worries over technology companies have added to political uncertainty surrounding such deals. The Trump administration is considering delisting Chinese companies from his nation’s exchanges and reducing U.S. portfolio flows into China, Bloomberg News has reported.The largest U.S. IPO by a Chinese company, DouYu International Holdings Ltd., which raised $775 million, has slumped 33% from its offer price. However, the second-biggest such deal by Starbucks challenger Luckin Coffee Inc. has jumped 26% from its IPO price, data compiled by Bloomberg show.UPCOMING LISTINGS:Chongqing Rural Commercial BankSize $1.5bShanghai stock exchangeTook orders Oct. 14; listing date TBACICC, China SecuritiesESR Cayman Ltd.Hong Kong stock exchangeSize $1.6bListing Nov. 1CLSA, Deutsche Bank, Morgan StanleyHanwha SystemsKorea exchangeSize up to $390mPricing Oct. 31; listing Nov. 14Citi, Korea Investment & Securities, NH InvestmentS Hotels and ResortsThailand exchangeSize up to $249mPricing Oct. 25; listing Nov. 12Credit SuisseAscentage Pharma Group InternationalHong Kong stock exchangeSize $53mListing Oct. 28BAML, CitiJS Global Lifestyle Co.Hong Kong stock exchangeSize up to $464mPricing Oct. 25; listing Oct. 31Credit Suisse, ICBC International, Morgan StanleyBangkok Commercial Asset ManagementThailand stock exchangeSize at least $700mListing date TBATrinity Securities, Kasikorn SecuritiesLotte REITKorea stock exchangeSize $353mListing date Oct. 30HSBC, Korea Investment & Securities, NomuraCMGE Technology GroupHong Kong exchangeSize up to $166mPricing Oct. 24; listing Oct. 31BNP, CICCChina FeiheHong Kong stock exchangeSize about $1bJPMorgan, CMS, CCB InternationalMore ECM situations we are following:The new co-chief executive officers of Indonesia’s largest internet startup plan to take the company public, raising capital to support drives into key areas like financial services and food delivery.Myanmar’s stunted stock exchange expects as many as four IPOs in coming months, in part because the prospect of equity trading by foreigners has stirred interest in listings.ESR Cayman Ltd., a logistics real estate developer, is set to raise $1.6 billion as it’s planning to price its IPO at the middle of a marketed range, people familiar with the matter said.Citigroup Inc. and ICICI Securities Ltd. are among banks selected for UTI Asset Management Co.’s planned IPO in Mumbai, according to people familiar with the matter.SEE ALSO:Asia ECM Weekly AgendaIPO dataU.S. ECM WatchEU ECM WatchTo receive the ECM Watch in your inbox daily, click the “subscribe” button at the top of this articleTo contact the reporter on this story: Julia Fioretti in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Lianting Tu at email@example.com, Cecile Vannucci, Fox HuFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Texas Instruments' (TXN) third-quarter results bear the brunt of weakening end-market conditions and U.S.-China trade tensions. Moreover, the company issued weak fourth quarter guidance.