|Over a month ago|
Pompeo to urge other exchanges to tighten rules for Chinese firms, Reuters says » 13:2606/0406/04/20
BABA, JD, IQ, WB, SINA, BIDU
U.S. Secretary of State…
U.S. Secretary of State Mike Pompeo is slated to warn U.S. investors against "fraudulent" accounting practices of China-based companies, and indicate that the Nasdaq's recent move to tighten listing rules for such companies should be a model for all other exchanges globally, Reuters' Humeyra Pamuk reports. Pompeo's remarks on the matter, expected to be delivered at a press briefing later on Thursday, illustrate the White House's desire to make it more difficult for certain Chinese companies to trade on exchanges outside of China, Pamuk notes. Prominent Chinese companies listed on U.S. exchanges include Alibaba (BABA), JD.com (JD), iQIYI (IQ), Weibo (WB), Sina (SINA) and Baidu (BIDU). Reference Link
Senate said to advance 'Holding Foreign Companies Accountable Act' » 12:2305/2005/20/20
BABA, JD, IQ, WB, SINA, BIDU
Senate Press Gallery…
Senate Press Gallery reports that the Senate "just passed by unanimous consent" the "Holding Foreign Companies Accountable Act" regarding foreign companies and China. Prominent Chinese companies listed on U.S. exchanges include Alibaba (BABA), JD.com (JD), iQIYI (IQ), Weibo (WB), Sina (SINA) and Baidu (BIDU). Reference Link
Sina reports Q1 EPS 25c, consensus 7c » 06:1305/1905/19/20
Reports Q1 revenue…
Reports Q1 revenue $435.1M, consensus $385.62M.
|Over a quarter ago|
Sina downgraded to Neutral from Buy at BOCOM » 09:3402/2702/27/20
BOCOM analyst Brandy…
BOCOM analyst Brandy Mengqi Sun downgraded Sina to Neutral from Buy with a $32 price target.
Sina reports Q4 adj. EPS $1.17, consensus 74c » 05:3502/2602/26/20
Reports Q4 revenue…
Reports Q4 revenue $593.3M, consensus $555.76M.
Sina announces $500M share repurchase program » 05:2812/3112/31/19
Sina announced that its…
Sina announced that its board has authorized a share repurchase program under which the company may repurchase up to $500M of its ordinary shares over the next 12 months.
Sina announces 'unjustified and groundless' arbitration ruling » 16:3312/2712/27/19
SINA Corporation announced that the Netherlands Arbitration Institute, or NAI, recently rendered an arbitral award regarding the dispute between GeoSolutions B.V., or GSBV, and its parent company GeoSolutions Holdings N.V. as claimants on one hand, and Sina Hong Kong Limited, a subsidiary of the company and GyPSii Co. Ltd., a joint venture that is 60% owned by SINA HK and 40% owned by GHNV, as respondents on the other hand, and rendered an award in favor of GSBV. The arbitrators of NAI found that SINA HK was a party to, and had breached, a license agreement with GSBV and ordered that SINA HK and GyPSii be jointly and severally obligated to pay GSBV as stipulated under the arbitral award. The arbitrators rejected GeoSolutions' other requests for relief against SINA HK, including a declaration of infringement of copyright and payout of part of Weibo's market value. The company considers the arbitral award unjustified and groundless. SINA HK is considering legal and other actions available to protect its interests, while evaluating the financial impact of the award on SINA HK. As a result of the award and the fact that SINA HK is a consolidated subsidiary of the company, the company expects to record a one-time litigation reserve of approximately $126M in Q4 of 2019.
Sina downgraded to Neutral from Buy at Goldman Sachs » 08:1712/0512/05/19
Goldman Sachs analyst…
Goldman Sachs analyst Bill Liu downgraded Sina (SINA) to Neutral from Buy with a price target of $41, down from $59, after lowering his 2020 and 2021 revenue estimates by 5% and 6%, respectively, and cutting his EPADS estimates for the two years by 11% and 13%, respectively, to reflect Q3 results and his updated Weibo (WB) estimates. He also cites Sina's continuous investment in FinTech, where Liu notes regulations remain tight and weak macro conditions are weighing.
Fly Intel: Pre-market Movers » 09:1311/1411/14/19
WMT, CSCO, QGEN, TMO, XCUR, AGN, VIA, VIAB, SINA, TGP, WB, WIX, TCOM, FLGT
HIGHER: Qiagen (QGEN), up…
HIGHER: Qiagen (QGEN), up 3% after Bloomberg reported Thermo Fisher (TMO) is weighing a purchase of the company... Exicure (XCUR), up 30% after announcing Allergan's (AGN) wholly-owned subsidiary, Allergan Pharmaceuticals International, and the company. have entered into a global collaboration agreement to discover and develop novel treatments for hair loss disorders based on Exicure's proprietary SNA technology. UP AFTER EARNINGS: Walmart (WMT), up 3%... Viacom (VIAB), up 2%... Teekay LNG (TGP), up 11%. DOWN AFTER EARNINGS: Cisco (CSCO), down 5%... Weibo (WB), down 12%... Wix.com (WIX), down 5%... Trip.com Group (TCOM), down 2%... Sina (SINA), down 9%. LOWER: Fulgent Genetics (FLGT), down 15% after a 2.325M share spot secondary priced at $11.25 per share.
Sina reports Q3 EPS 94c, consensus 59c » 05:4511/1411/14/19
Reports Q3 revenue…
Reports Q3 revenue $561.4M, consensus $555.69M.