185.06 0.00 (0.00%)
After hours: 4:25PM EST
|Bid||185.02 x 1300|
|Ask||187.00 x 100|
|Day's Range||183.91 - 186.98|
|52 Week Range||177.80 - 284.22|
|Beta (3Y Monthly)||1.27|
|PE Ratio (TTM)||16.81|
|Earnings Date||Feb 11, 2019 - Feb 15, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||254.48|
China's largest search engine Baidu is getting an offline revenue boost after it led a $300 million strategic round in Xinchao Media, a company that shows people ads when they're waiting for an elevator - or stuck in one. The tie-up will see the partners collaborate on data integration that knits reams of search data from Baidu with Xinchao's offline data. Baidu also says it will "empower" Xinchao with its big data algorithms and artificial intelligence technology, which, in other words, could make elevator ads more relevant as Xinchao has now deciphered people's online behavior.
Facebook (FB) has introduced its online dating service in Canada and Thailand. The company is working to expand the availability of the service as it sets out to challenge Match Group (MTCH). Match Group operates a portfolio of online dating services including Tinder, OkCupid, and namesake Match.com.
Baidu (BIDU) is the largest search engine in China, generating the majority of its revenue on marketing services, including over 70% of the traffic share in search. Recently, Baidu has been investing more heavily in artificial intelligence, specifically autonomous cars. Warning! GuruFocus has detected 3 Warning Signs with BIDU.
CBS Corp. subsidiary CBS Studios International and Chinese video streaming company iQiyi Inc. announced Wednesday they had reached an exclusive licensing agreement for "The Late Late Show with James Corden." The show will be available on demand on the Netflix-like iQiyi, which is controlled by Chinese search giant Baidu and went public in March. "It's exciting to join forces with iQiyi to bring the supreme talent of James Corden and the star power of his guests to Chinese audiences," said Armando Nuñez, CBS Global Distribution Group's president and CEO. "Mobile viewing dominates iQIYI's subscriber base, making it the perfect platform for the inventive content and viral moments of 'The Late Late Show'," he added. This is the first time the series will be available in China. Shares of CBS Corp. have fallen 3.4% in the year to date, while shares of Baidu have fallen 22%. The S&P 500 has gained 1.8%.
Tencent Holdings is expected to report a small rise in quarterly net profit on Wednesday, with a steady gain in advertising revenue helping offset a slump in its core gaming business caused by a prolonged regulatory crackdown. China, the world's biggest gaming market, stopped approving new games since March amid a regulatory overhaul, leading to Tencent reporting its first profit decline in more than a decade in the June quarter. Tencent is now cutting the marketing budget for the gaming division.
As we discussed in the previous two parts of this series, rising interest rates and the US-China war (FXI) are two of the major reasons for investors’ pessimism. Meanwhile, President Trump seems to be playing the “blame game” regarding the ongoing market turmoil. According to a BBC report, in an interview with Fox & Friends in August, President Trump said, “I tell you what, if I ever got impeached, I think the market would crash, I think everybody would be very poor.” When the market crash started in October during his time in office, President Trump started blaming the Fed for the economic turmoil.
Wall Street loves its acronyms. For a long time, FANGs have reigned supreme, but now it may be time to pay attention to the BAITs. When was the last time you read a market recap that did not include mention of the FANG stocks? Depending on your definition, this group of typically (but not always) highflying tech stocks included the likes of Facebook (FB), Amazon.com (AMZN), Netflix (NFLX) and Google parent Alphabet (GOOGL), though other stocks are often mentioned in the same breath. Why not? Acronyms catch investors' attentions and get plenty of media play. The problem is when these vaunted stocks don't give investors the fat returns they expect. Sure, Amazon is up 38% year-to-date, but it is now trading down 13% from its Sept. 4 peak. Alphabet's performance lags the Standard & Poor's 500-stock index by two percentage points for the year, and Facebook is actually negative by 22%. But a different group of tech stocks seems poised to carry the mantle of market leadership. And they provide the game-changing technology to the world's second largest economy. They are China's version of the FANGs, called BAITs. they now look attractively priced thanks to China's recent bear market. SEE ALSO: Emerging-Markets Stocks: 10 Ways to Play the Next Bull Market
Alibaba (BABA) has downgraded its growth expectations for fiscal 2019, which will end in March. In May, Alibaba forecast fiscal 2019 revenue growth of over 60%, but it now expects this growth to be slower. Alibaba’s revenue rose 58% to $39.9 billion in fiscal 2018.
Apple's latest iPhones aren't spurring the kind of sales uptick that Wall Street expected. One analyst said iPhone XR inventories are "bloated."
Through its Mobileye subsidiary, Intel (INTC) is forming a joint venture with Volkswagen to enter the Israeli taxi services market. The companies are aiming to launch what would be Israel’s first ride-hailing service using cars capable of driving themselves. To do so, Mobileye and Volkswagen are joining forces with Israeli car importer Champion Motors, and each company will play a specific role in helping the plan succeed.
Concerns about China’s economic growth have been among the key factors that spooked investors in 2018. The country’s economic growth rates have cooled off. President Trump has slapped tariffs on $250 billion worth of goods from China.