|Bid||37.90 x 1300|
|Ask||37.92 x 1100|
|Day's range||37.26 - 38.78|
|52-week range||28.93 - 55.52|
|Beta (5Y monthly)||1.72|
|PE ratio (TTM)||21.83|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The U.S. stock market came out of the holiday weekend with just as much upward momentum as it had last week. All three major market benchmarks gained ground, with the Dow Jones Industrial Average (DJINDICES: ^DJI), S&P 500 (SNPINDEX: ^GSPC), and Nasdaq Composite picking up 1.5% to more than 2% on the day. Today, however, some news from China caused more bullish sentiment to appear across the globe, and even Wall Street benefited from some of the optimism that market participants felt as a result.
The parent company of China's Twitter got a buyout offer from its CEO. This is the latest development in a wave of Chinese companies going private.
Chinese news and social media company Sina, one of the country’s internet pioneers, has received a $2.7bn management buyout offer which would spell the end of its 20-year-long listing on Nasdaq. Shares in Sina rose 9.5 per cent after the news. The proposal would entail Charles Chao, Sina’s chairman and chief executive, taking the company private, including its 45 per cent stake in Weibo, China’s version of Twitter, which is also listed on Nasdaq.
(Bloomberg) -- India’s Ministry of Technology banned 59 apps, including TikTok and WeChat, saying the software threatens the country’s security and sovereignty, as well as citizens’ privacy.India, one of the largest and fastest growing digital markets, said it received complaints that some mobile apps on Google’s Android and Apple Inc.’s iOS platforms are “stealing and surreptitiously transmitting users’ data in an unauthorized manner to servers which have locations outside India.”In addition to ByteDance Ltd.’s TikTok video app and Tencent’s WeChat service, the Indian tech agency listed several other Chinese apps, including offerings from Baidu Inc. and Weibo Corp.“The compilation of these data, its mining and profiling by elements hostile to national security and defense of India, which ultimately impinges upon the sovereignty and integrity of India, is a matter of very deep and immediate concern which requires emergency measures,” the Ministry of Technology said in a statement Monday.TikTok said it is committed to working with India to resolve the concerns.“While the Government of India has issued an interim order to block 59 apps, our team of around 2,000 employees in India is committed to working with the government to demonstrate our dedication to user security and our commitment to the country overall,” TikTok said in a statement. 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.
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. We'll apply a basic...
SINA and Weibo are often considered also-rans in China’s crowded tech sector -- but could both stocks rebound as the macro headwinds wane?
SINA Corp.'s (SINA) first-quarter top line reflects weakness in advertising revenues due to the adverse impact of the coronavirus pandemic on overall advertising demand.
Image source: The Motley Fool. Sina Corporation (NASDAQ: SINA)Q1 2020 Earnings CallMay 19, 2020, 8:10 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorThank you for standing by and welcome to the SINA First Quarter of 2020 Earnings Conference Call.
Thank you for standing by and welcome to the Weibo First Quarter 2020 Financial Results Conference Call. The conference call is also being broadcast on Internet and is available through Weibo's IR website. Weibo assumes no obligation to update forward-looking statements in this conference call and elsewhere.
(Bloomberg Opinion) -- As recently as a month ago, investors in China’s internet stocks were clutching on to the belief that these companies would sail through the coronavirus epidemic unscathed.Alibaba Group Holding Ltd., for example, was trading near historic highs despite the e-commerce giant’s chief financial officer admitting days before that its biggest business would decline as a result of the squeeze on consumer spending. By the time Baidu Inc. reported two weeks later, shares of the search-engine provider had lost 11.7%, while those of Alibaba were down 6.4% and social media powerhouse Tencent Holdings Ltd. had slipped 6.2%.Just as investors should have known in mid-February that there was trouble ahead, they’d be well-advised to look at the reality that’s presented to them now and be just as circumspect. China may have gotten past the worst of Covid-19, but the world is just starting to grapple with it and a major economic shock is looming. Now, as we digest Tencent’s fourth-quarter numbers and muddy outlook, these stocks have continued to drop. As have group-buying outfit Pinduoduo Inc. and internet companies Sina Corp. and Weibo Corp.Yet despite declines of a third or more in market value, some of China’s internet darlings are trading at levels seen as recently as three months ago. Tencent, for example, is back where it was Dec. 5. This indicates that investors aren’t pricing in a big economic jolt, but merely a minor bump on the highway of fast growth and climbing profits.In its investor conference call late Wednesday, Tencent didn’t give explicit details on what to expect this quarter. The company did note that the payments business, now one of its fastest-growing units, will post a drop in revenue, offset by a reduction in marketing costs. By comparison, Baidu, Weibo, and Sina all gave specific sales guidance — each predicted declines of 15% to 20% from a year earlier.It’s clearly going to be a tough first quarter, but executives spent much time on their conference calls talking up their future prospects in the belief that this is a minor blip. Robin Li, Baidu’s chairman and chief executive, defended his optimism by claiming that expenditure will merely be delayed: “If you plan to get married, you are still going to marry. If you're trying to buy a car, you are still buying a car.”I can’t help wondering if these business leaders are looking too closely at China’s Covid-19 case count, and correlating a decline in new patients to an immediate rebound in revenue. Certainly, the mood on the ground has brightened and workers are returning to their posts.However, they may not sufficiently be taking on board that the disease has gone global. The disparate attempts in Europe and the Americas to bring it under control mean that any resolution won’t come quickly. It may be the case that with their revenue coming almost exclusively from domestic consumers, they believe a wider meltdown won’t cause much pain.That may be a little naive. Exports account for an important portion of China’s gross domestic product and occupy a significant part of its labor force. Foxconn Technology Group, for example, is the largest private employer in China and gets more than half its revenue from Apple Inc. If orders at these businesses dry up, Chinese consumers will need to reduce expenditure. Last year, I noted that what may save Chinese internet companies is their shift to a post-growth era by trimming costs such as marketing, which some pragmatic executives have done. They’re going to need to adapt again, this time to reflect a world that truly is connected, and where an external shock could quickly become a local problem. Chinese tech companies may think they’ve got through the worst of the storm. They’d better brace themselves for the fact that there is nowhere to hide.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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In this article we are going to estimate the intrinsic value of Weibo Corporation (NASDAQ:WB) by taking the expected...
It's been a sad week for Weibo Corporation (NASDAQ:WB), who've watched their investment drop 19% to US$43.55 in the...
Today, we'll introduce the concept of the P/E ratio for those who are learning about investing. To keep it practical...
China is sending a team of experts to Thailand - after the death of one of its panda diplomats sparked outrage on social media. Chuang Chuang died in a Thai zoo on Monday (September 16). Chinese social media lit up with outrage at the unexpected death, with a hashtag drawing in 250 million views on Weibo. One user said 'Thailand is so evil... we shouldn't be renting out pandas after this!' Beijing has been engaged in what's often dubbed panda diplomacy since the 1950s. Using their iconic bears as signs of goodwill across the world. President Xi recently presented Russia's president Putin with two furry ambassadors in Moscow. In France, President Macron's wife was named godmother of a feisty young cub back in 2017. Now Chinese Weibo users are saying 'no more pandas for Thailand'. Zoo staff held a moment of silence ahead of a news conference on Tuesday (September 17). One zookeeper said the staff loved and nurtured Chuang Chuang, and hopes everyone will miss him like they do. The cause of his death is still unknown. The zoo says they can't perform an autopsy on the 19-year-old until the Chinese authorities arrive on Thursday (September 19). Pandas generally live around 14 to 20 years in the wild, and up to 30 in captivity - according to the WWF.
In this commentary, I will examine Weibo Corporation's (NASDAQ:WB) latest earnings update (30 June 2019) and compare...