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|Bid||40.88 x 800|
|Ask||0.00 x 900|
|Day's Range||41.45 - 42.60|
|52 Week Range||28.93 - 55.52|
|Beta (5Y Monthly)||1.64|
|PE Ratio (TTM)||19.37|
|Earnings Date||Nov 12, 2020 - Nov 16, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||41.00|
Moody's Investors Service has downgraded Weibo Corporation's issuer and senior unsecured ratings to Baa2 from Baa1. At the same time, Moody's has revised the outlook on the ratings to negative from stable. On 28 September, Sina Corporation announced in its SEC filings that it has entered into definitive agreement to be privatized by New Wave Holdings Limited, a company controlled by its chairman and CEO Mr. Charles Chao.
(Bloomberg) -- Chinese consumers who stayed up late to catch a glimpse of Apple Inc.’s newest iPhones and HomePod were disappointed when the livestream was unavailable on the country’s top social media platforms.When Apple unveiled new versions of the devices remotely via the internet on Tuesday in the U.S., sites including Tencent Video, iQiyi, Bilibili and Weibo, didn’t carry the feed, without giving a reason.“The live streaming is blocked, we can only go to Apple’s official site,” wrote one unverified user on Weibo.“It’s disgusting,” wrote another. One person queried, “Is it a trick from rivals?”Representatives of Tencent Holdings Ltd., iQiyi Inc., Weibo Corp. and Bilibili Inc. didn’t respond to requests for comments outside regular Chinese business hours.Later in the day in the U.S., the iPhone 12 was ranked the hottest topic on Weibo, and social media users posted several photos of the new device.Live streaming iPhone releases has been a ritual for many of these platforms. Apple’s official WeChat account promoted the iPhone 12 release event a week ago, saying five platforms, including iQiyi, Bilibili, Tencent Video, Weibo and Youku would livestream the event. It also included a disclaimer that the livestream from partners may change.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.
On Friday, the markets turned jittery as President Donald Trump tested positive for COVID-19. Moreover, concerns about the slow economic recovery were amplified as the 661,000 jobs added in the private sector during September was below August's level.But, the IPO space has been hotter than ever. Colorado-based software firm Palantir Technologies (NYSE: PLTR) and task management app Asana Inc (NYSE: ASAN) went public, eliciting a lot of interest from the market community.Proving its critics wrong yet again, Tesla, Inc. (NASDAQ: TSLA) said it achieved production and delivery goals for the third quarter, exceeding expectations. After a long lull due to COVID-19, M&A activity seems to be picking up, with Walmart, Inc. (NYSE: WMT) an agreement with Issa Brothers and TDR Capital to sell its UK unit Asda. According to Mint newspaper, Walmart is also advanced talks to invest up to $25 billion in India-based conglomerate Tata Group's "super app," which is set to December or January.Media reports revealed that Goldman Sachs Group, Inc. (NYSE: GS) has agreed to acquire the credit card business of General Motors Company (NYSE: GM) for $2.5 billion. GM has not finalized its deal with Nikola Corporation (NASDAQ: NKLA) on September 30th in the light of allegations. The two companies have until December 3rd to finalize the deal.Uber Technologies, Inc. (NYSE: UBER) won its London battle, giving it an 18 months window to operate in the UK Capital as its progress will be closely monitored by regulatory authorities.Bed Bath & Beyond (NYSE: BBBY) seems to have resurrected. Last week offered further signs that maybe its CEO Mark Tritton is succeeding in doing what so many of his peers have failed to do - to turn the business around as total quarterly sales that were up 6% YoY, marking the first increase since 2016, while digital sales soared by 89%. Moreover, Bed Bath & Beyond will be offering a same-day deliver to take full advantage of the holiday season as it is partnering with Instacart and Shipt, which is owned by Target, Inc. (NYSE: TGT).SINA Corporation (NASDAQ: SINA) reported its second quarter financials and revealed it is exiting Wall Street. The owner of the Weibo platform announced it is going private in $2.6 billion deal. Many Chinese companies are opting out of U.S. stock exchanges, following rising tensions between the world's two largest economies, by considering go-private deals or returning to equity markets closer to home. This delisting could easily be a sign of further turbulence ahead if President Trump turns his threat to delist Chinese stocks into action.Weibo Corporation (NASDAQ: WB) saw its share price soar 208% in the last half-decade, but it is also down 21% year to date. However, its share price jumped 10.4% on September 30th due to the company delivering better-than-expected second-quarter results.United Natural Foods, Inc. (NYSE: UNFI) had somewhat of a mystery collapse as the stock plummeted despite Q4 results being much better than expected. It seems that a solid quarterly report wasn't enough to satisfy investors in one of the oldest natural food distributors. Despite better than expected earnings and revenue with net income more than triple from last year's quarter, shares were down 12.4% on Tuesday. Investors might have also reacted to the news that its CEO is retiring next year, or sooner or simply questioning the assumption that the positive trend of food-at-home-consumption will remain with the arrival of a COVID-19 vaccine.Conagra Brands (NYSE: CAG) has beaten analyst estimates both for earnings and revenue. Moreover, the manufacturer and seller of processed and packaged foods showed progress towards its sustainability goals as it will be using plant-based fibers instead of plastic. With this switch, the company will reduce the carbon footprint of manufacturing the bowls is by 50 to 70 percent across selected product lines. The goal is to achieve 100 percent of existing plastic packaging renewable, recyclable or compostable by 2025,Novagold Resources (NYSE: NG) revealed Q3 results for the period that ended on August 31, 2020, reporting a loss of $12.7 million as due to COVID-19 the assay labs were understaffed and the drill results are coming in slower than expected.Prolonged closures at The Walt Disney Company (NYSE: DIS) California-based theme parks and limited attendance at those that reopened have forced the company to lay off 28,000 employees across its parks, experiences and consumer products division, with about 67% of them being part-time employees. The impact of COVID-19 has been significantly amplified by California's unwillingness to lift restrictions that would allow Disneyland to reopen. Dow stock Disney fell nearly 2% in premarket trading as this will be a shot heard across the country with many cities living off the tourism brought in by Disney's entertainment centers.Although last week was somewhat light when it comes to earnings as we are waiting for mid-October, it had many important events that could easily be the omen of what is to come. Uncertainty has become our everyday norm with further turbulence on the horizon.This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure . IAM Newswire does not hold any position in the mentioned companies. Press Releases - If you are looking for full Press release distribution contact: email@example.com Contributors - IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: firstname.lastname@example.orgThe post Last Week's Summary - an Omen of What Is to Come? appeared first on IAM Newswire.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * What Mass Furloughs Imply For Disney's Kingdom * Tech Jewels Not To Miss Out In October(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Investors in Weibo Corporation (NASDAQ:WB) had a good week, as its shares rose 5.5% to close at US$36.43 following the...
Shares of Weibo (NASDAQ: WB), a China-based messaging and content app, spiked today as investors likely reacted to news about September growth in China's economy. The latest manufacturing data for China was released today and showed that the country's manufacturing purchasing index rose to 51.5 in September, higher than the 51.2 forecast by economists. Any figure above 50 indicates that the sector is expanding and a growing manufacturing industry shows that China's economy may be rebounding from the economic effects of the coronavirus.
Ladies and gentlemen, thank you for standing by, and welcome to Weibo Reports Second Quarter 2020 Financial Results Conference Call. This conference call is also being broadcast on Internet and is available through Weibo's IR website. Weibo assumes no obligation to update the forward-looking statements in this conference call and elsewhere.
Scratch another big tech company off the list of Chinese stocks traded in the U.S. Online media conglomerate Sina (NASDAQ: SINA) announced today that it is being taken private by companies affiliated with its CEO, Charles Chao. The company pointed out in the press release trumpeting the deal that the premium climbs to 18% if applied to the share price on July 2. At the time, the proposed share price was $41.
Shares of Weibo (NASDAQ: WB) were gaining today after the company delivered a better-than-expected second-quarter earnings report. The Chinese social media platform that's often likened to Twitter still saw revenue slide in the quarter, but the performance was enough to please investors. Weibo said that business was recovering as the coronavirus pandemic has been brought under control in China.
|Initiated||B of A Securities: to Buy||6/26/2020|
|Maintains||Nomura Instinet: to Neutral||5/21/2020|
|Downgrade||Barclays: Overweight to Equal-Weight||4/22/2020|
|Maintains||Benchmark: to Buy||2/27/2020|
|Maintains||UBS: to Neutral||2/27/2020|
|Maintains||Barclays: to Overweight||2/24/2020|
Sector(s): Communication Services
Industry: Internet Content & Information
Full Time Employees: 4,126
Weibo Corporation, through its subsidiaries, operates as a social media platform for people to create, distribute, and discover content in the People's Republic of China. It operates in two segments, Advertising and Marketing Services; and Value-Added Services. The company offers discovery products to help users discover content on its platform; self-expression products that enable its users to express themselves on its platform; and social products to promote social interaction between users on its platform. It also provides advertising and marketing solutions, such as social display advertisements; and promoted feeds, such as Super FST, Fans Headline, and Weibo Express, promoted accounts, and promoted trends and search products that enable its customers to promote their brands and conduct marketing activities. In addition, the company offers copyright content, such as TV channels, online video websites, and operators with copyright content through traffic resource exchange and content traffic sharing; MCNs and other self-media to manage and provide services to content creators on Weibo, such as MCNs, unions, and e-commerce partners; other app developers an application platform, which allows users to log into third-party applications; and Weibo Wallet product consists of red envelops and coupons that enables platform partners to conduct interest generation activities on Weibo. The company was formerly known as T.CN Corporation and changed its name to Weibo Corporation in 2012. The company was founded in 2009 and is headquartered in Beijing, China. Weibo Corporation is a subsidiary of Sina Corporation.