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Amarin Corporation plc Message Board

ksn_44 160 posts  |  Last Activity: 8 hours ago Member since: Jun 28, 1998
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  • The floor area of homes sold in 20 large cities in the first 20 days of July totaled 5.59 million square meters, up 8 percent from the same period in June, data from E-House China R&D Institute show.

    But the institute's report said a lack of bank loan policies to support the market would mean buyers would continue to watch and wait. Price declines in 80 percent of 70 large cities around the country also meant buyers would put off plans for purchases.

    (Rewritten by Guo Kai)

  • (Beijing) – Two large cities that canceled all local government restrictions on home purchases recently have seen a sharp increase in sales, data from the government and a research institute show.

    A total of 1,235 homes were sold from June 13 to July 13 in Hohhot, the capital of the northern region of Inner Mongolia, up 43 percent compared to the preceding 30-day period, data from the city's housing administration bureau show.

    In Jinan, capital of the eastern province of Shandong, home sales rose 188 percent from July 1 to 20, compared to the same period in June, said a report by Shanghai-based E-House China R&D Institute, a property service provider and research body.

    Hohhot was the first large Chinese city to lift all curbs on home purchases on June 13, and Jinan became the second on July 10. The central government required cities to take measures to curb the sizzling market in 2010. Many cities implemented a variety of rules, including stopping people from buying second homes.

    By last year home prices and sales began to decline in cities around the country. Some cities, including Wenzhou, in the eastern province of Zhejiang, and Nanning, in the southern region of Guangxi, began to relax restrictions to spur purchases in the first quarter, but they stopped short of lifting all curbs.

    Haikou, capital of the southern island province of Hainan, became the third city to cancel all restrictions on July 17.

    Housing officials in Hangzhou said on a microblog that the Zhejiang city will cancel all restrictions in the Xiaoshan and Yuhang districts from September 29, and allow people to buy second homes with an area of more than 140 square meters in the downtown area.

    Shanghai real estate agents said in mid-July that the local government would relax rules to allow people who bought homes with their parents to buy second homes, but officials have denied this will happen.

  • It has not been a banner year for China's real estate market, with home prices and sales activity declining in many areas of the country.

    The folks at Leju Holdings (NYSE:LEJU) know all about it. The company provides real estate e-commerce, advertising and listing service via its website as well as through mobile apps.

    Its stock debuted on the NYSE in mid-April, right in the middle of a slowdown in the Chinese real estate market. After Leju reported robust first-quarter results on May 20, the company showed that even a challenging real estate market can have its upside.

    In fact, Leju might have been helped by the slowdown in China's real estate market, says Chief Financial Officer Min Chen.

    "In a slightly challenging year for developers, there is actually greater demand and need for our (service) to help them sell units," Chen told IBD in a phone interview from China.

    Coupon-Fueled Growth
    Leju's Q1 revenue nearly doubled from the prior year to $78.5 million, thanks in large part to a 238% surge in e-commerce revenue — much of it related to Leju's discount coupons sold to new-home buyers.

    Net income grew to $7.7 mil vs a net loss of $4.3 mil a year earlier.

    The stock set a record high of 14.20 on July 24 and still trades near there. The company eyes continued growth in its e-commerce biz in coming months.

    "We expect this year's coupon sales to be higher despite the softer market," Chen said.

    She says first-quarter coupon sales more than doubled from a year earlier, when the property market was hotter. Since the coupon model in China is still relatively new, Leju expects penetration rates to go up off a small base.

    Of all new residential property units sold in China last year, only 3% were sold using discount coupons. Leju shares the tiny market with chief rival SouFun , a Chinese real estate Web firm with a slightly bigger market share. "We're seeing more developers receptive to this new model, which means our market share will continue to grow." Chen said.

  • Reply to

    Do not wait for morning , buy now below 12

    by hd317 Jul 28, 2014 6:17 PM

    Tim Seymour pumped it AGAIN on FASTMONEY last night.

  • Reply to

    Somebody remember to shoot me the next time

    by ksn_44 Jul 28, 2014 10:06 AM
    ksn_44 ksn_44 Jul 28, 2014 8:07 PM Flag

    You're right, michael, that article I noted last week said "sometime this month".

  • Reply to

    Zillow + Trulia

    by michaellipka Jul 26, 2014 3:04 PM
    ksn_44 ksn_44 Jul 28, 2014 2:07 PM Flag

    More notes on the deal

    **********************************************************************

    Z
    Zillow/Trulia predict major cost savings, other synergies
    Zillow's (Z -1.5%) purchase of Trulia (TRLA +13.3%) signals Zillow plans to create a portfolio of online real estate assets much as InterActiveCorp has created a portfolio of online dating assets, says CEO Spencer Rascoff. "What's taking shape is the creation of a real estate media company." Move (MOVE +8.9%) investors might be pleased to hear that.
    Though Trulia's brand will stay independent, Zillow and Trulia predict the deal will yield at least $100M/year in cost savings by 2016. Other expected synergies include: 1) Better real estate data for consumers thanks to data-sharing between Zillow/Trulia. 2) Common ad services/marketing platforms that can yield a better ROI. 3) Broader listing distribution.
    The companies note they still only account for 4% of estimated U.S. real estate marketing spend of $12B/year. Zillow has 83M monthly unique users, and Trulia 54M (some overlap exists).
    Street commentary has been quite positive. Macquarie: "This could pave the way to these companies becoming more profitable more quickly." CRT Capital: "At the end of the day, this provides scale. And scale ultimately leads to more advertising on the overall network."

  • LEJU jumps a buck the first half hour and I do not sell and wait 1/2 hour for the $.70 pullback generally 30 minutes later to buy it back again, OK?

  • Reply to

    Zillow + Trulia

    by michaellipka Jul 26, 2014 3:04 PM
    ksn_44 ksn_44 Jul 28, 2014 9:38 AM Flag

    venetian, the Shanghai Composite has a PE of 8. It is GROSSLY undervalued. Why? I have no idea but I think generally distrust of the Chinese in general is an issue. Underlying that is corruption I would imagine.

    ***************************************************************************

    Shanghai climbs another 2.4%

    "Sentiment has turned in favor of growth and cheap valuations in the Chinese market," says a Hong Kong-based fund manager. Shanghai "has been lagging for a long time so [it's catching] up with world markets. The policy changes in China are favorable.”
    Among the more recent measures are the cutting of reserve requirements, accelerated infrastructure spending, and loosened property curbs.

  • Reply to

    Zillow + Trulia

    by michaellipka Jul 26, 2014 3:04 PM
    ksn_44 ksn_44 Jul 27, 2014 11:17 PM Flag

    Keep in mind, Z isn't even making money, and the stock is 150!!!

    ********************************************************************************************

    Zillow, Trulia add to gains amid positive merger commentary
    "It's a blockbuster ... What this says is, Zillow has been and has locked up the absolute dominant position in online real estate in the United States,” says real estate analyst Steve Murray on reports Zillow (Z +4.6%) is looking to acquire Trulia (TRLA +2%).
    Barclays' Christopher Merwin predicts a merger would "dramatically increase the combined entity's pricing power" with real estate agents, and would yield more leverage in price negotiations with MLSs. Zillow just bought MLS data-integration software platform provider Retsly.
    Murray admits there could be a backlash to the deal, stating "the industry will be concerned ... if you have one huge, overwhelmingly dominant player" for whom agents "will be almost compelled" to list on.
    Bloomberg reports Zillow could pay for 1/3 of the purchase in cash (implies a $667M cash payment at a $2B acquisition price), and 2/3 in stock. Zillow had $446M in cash/investments at the end of Q1.
    While Zillow and Trulia continue to rally, Move (MOVE -2.8%) is now below where it traded before the first merger report broke.

  • Let’s talk about E-House China Holdings Ltd (EJ).

    E- House is a real, complete real-estate proxy play for China's real estate market. Now, I know, before we get up in arms, it’s been a pretty sloppy market. Even the management of this company admits there’s been a lot of softness in certain cities, and it’s going to linger. But here’s the thing: it can also create opportunities, there’s going to be pricing discounts, there’s probably going to be some relaxed policies -- and all of that generates activity. This company makes a lot of money from that activity, not just the prices of homes going up or down.

    In fact, in the second quarter, they had standout segments including: e-commerce (up 238%), sales agency service (which is traditional up only 5%, but still up in a sloppy market), online real estate (up 97%), real estate information (up 52%). And execution is phenomenal. In the last four quarters they beat the Street by 83%, 43%, 18% -- and the last time out 100%. Revenue was up more than 40%.

    I see one more hurdle: $12. After that, I think this stock rallies to $16.

  • The online real estate space heats up some more with Realogy's (NYSE:RLGY) all-cash, $166M deal to buy ZipRealty (NASDAQ:ZIPR). The price works out to $6.75 per share vs. today's close of $3.02.
    The purchase adds ZipRealty's residential brokerage operations with 23 U.S. offices and its integrated real estate technology platform to Realogy's operations. ZIPR last year closed $2.7B in property sales, giving it $76M in revenue and $32M of gross profit. Realogy expects EBITDA contribution from the purchase to be about $20M annually within the next three years.

  • Reply to

    Z buying Trulia

    by babbeo6 Jul 24, 2014 2:56 PM
    ksn_44 ksn_44 Jul 24, 2014 11:05 PM Flag

    Here is the deal. Keep in mind, EJ trades at 1.97X sales as of the moment and LEJU 6.54. But keep in mind LEJU's sales are growing exponentially and that number could be cut by 30% with next Q's revenue numbers. But look at where Z trades and what they are paying for Trulia.....

    Note also, the P:S ratios noted below are for '15, currently Z's P:S ratio is 22 whereas Trulia's is 8.6. And further note.......BOTH OF THEM ARE LOSING MONEY!!

    Z closed today at 145!!

    *****************************************************************************************************************

    More on Zillow/Trulia
    A source tells B berg Zillow (Z +18.8%) could value Trulia (TRLA +28.7%) at up to $2B in a deal. That would imply an acquisition price of ~$54/share.
    The source adds a deal could be announced as soon as next week. B berg cautions talks remain ongoing.
    The rumored price represents a ~33% premium to Trulia's Wednesday close. Nonetheless, it values the company at 6x 2015E sales, a multiple well below the 12x sported by Zillow as of yesterday's close.
    Perhaps more importantly, there's plenty of enthusiasm on the Street for a deal that would create a clear-cut leader in what remains a very fragmented online real estate market that still only accounts for a small (but growing) fraction of total U.S. real estate services spend.
    Earlier: Zillow reportedly looking to buy Trulia

  • SHANGHAI, July 24 -- Shanghai home buyers will have access to discounted loan rates next month while high price, oversupply and credit tightening continue to drag down the property sector.

    The Agricultural Bank of China, one of China's Big Four banks, said on Thursday that it will offer a 5 percent discount on interest rates to clients borrowing at least 2 million yuan for their first homes.

    The relaxation, although small, caught market attention as the property policy of the biggest Chinese city is deemed the wind vane of the whole country's real estate policy, which puts containing prices its priority.
    Other big banks have not made similar moves yet.

    The central government has not indicated any shift in nationwide property policy. Instead, quicker reforms, loosening credit and infrastructure construction have been used to offset the impacts of the real estate slowdown.

  • Reply to

    Wonder how it got established that EJ

    by ksn_44 Jul 24, 2014 10:30 AM
    ksn_44 ksn_44 Jul 24, 2014 2:27 PM Flag

    All good points, Michael, but 30% of market cap? I hear you on the limited downside though.

    And what is up with Zillow up 20% today? Now the PE is probably 150.

  • is valued 25-30% less than LEJU????

  • NEW YORK (AVAFIN) -- E-House witnessed a record number of call and put contracts during the busy trading session. There were 1.4 call contracts traded for each put contract yielding a 0.71 put/call ratio where 5,931 put and 8,382 call contracts exchanged hands.
    Put/Call ratio can be regarded as a predictor of investment sentiment, indicating what experienced investors are doing in preparation for a move of an underlying equity. A high put/call ratio suggests that the investor sentiment is bearish and that investors are expecting the underlying stock price to decrease. On the other hand, a low put/call ratio implies that the investor sentiment is bullish and that investors are expecting the underlying stock price to increase. Thus, unusual volume provides reliable clues that the stock is expected to make a move.

  • “We may be close to near-term bottom of the property sector,” Michael Wang, an emerging-markets strategist at Amiya Capital LLP, said by e-mail from London. The easing measures “obviously help commodities, cement and property stocks. The economy should look OK from a growth perspective, and we should see another sequential acceleration.”

    Banks will resume preferential mortgage rates, according to 74 percent of analysts and economists in a survey conducted from July 14 to July 17. Fifty-six percent forecast lower minimum down payments, while 59 percent said they expected the central bank to ease its mortgage restrictions. A total of 29 economists and analysts responded to the survey.

    *************************************************************************************

    About 40 Chinese cities have eased home-purchase restrictions. Wenzhou City in the eastern Chinese province of Zhejiang removed its curb on housing purchases in June via verbal notice, the National Business Daily reported yesterday, citing an unidentified executive with a property developer. Suzhou City, a tourist town in the east, also relaxed some limits for buying homes, the Xinhua News Agency reported July 21.

  • SFUN volume is off the charts, and this is about the highest i have ever seen for LEJU. EJ caught a bunch of 100K plus purchases in the last hour.

  • Wenzhou, in eastern Zhejiang province, removed its home-purchase restrictions last month, the National Business Daily reported, citing an unidentified executive with a property developer. The government won’t strictly examine how many homes a buyer owns, it said. Wenzhou joins cities including Jinan and Wuhan that have loosened curbs to prevent falling home prices from undermining their economies.

    “Possible loosening makes property stocks’ valuations attractive,” said Wang Weijun, a strategist at Zheshang Securities Co. in Shanghai.

    China’s central bank refrained from draining funds using repurchase agreements for the second time in a month as cash demand tightened before share sales.

  • Reply to

    Differing opinions..........think tank vs EJ

    by ksn_44 Jul 21, 2014 3:27 PM
    ksn_44 ksn_44 Jul 22, 2014 3:31 PM Flag

    And I believe LEJU added in their CC that their desire to keep margins constant was based on the fact that they were constantly absorbing input from the Developers as to what upgrades, additions, etc., to make to their online tools more desirable. They want to keep the value in the service. As the COO added on the CC, the real battle lies not in the cost OF the product/service but the cost put INTO the product/service.

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