China Internet Consumer Demand Remains Healthy, Buy 58.com (WUBA), Qunar (QUNR) - Pacific Crest
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Summit Research Cuts Price Target to $205 on Baidu.com (BIDU) Following 2Q15
July 28, 2015 7:06 AM EDTSummit Research maintained a Buy rating on Baidu (NASDAQ: BIDU), and cut the price target to $205.00 (from $256.00), following 2Q15 results. Management guided 3Q15 revenue Y/Y growth to 34.4% - 37.4%, which is below consensus of 39%. Analyst Henry Guo believes that the guidance may prove conservative.
Guo commented, "While 2Q15 top and bottom came in strong as we expected, BIDU... More
Wall Street drops as China stock slump stokes growth fears
July 27, 2015 7:48 AM EDT(UPDATED 4:49PM ET) By Noel Randewich
(Reuters) - Wall Street sank on Monday, with the Nasdaq losing almost 1 percent after the steepest decline in Chinese stocks in eight years increased concerns that cooling growth in the world's No. 2 economy could hurt China's trading partners.
The Dow Jones industrial average finished at its lowest since February, the Nasdaq Composite hit a four-week low and the benchmark S&P 500 ended at its lowest in over two weeks.
In an additional negative sign, 480 stocks hit 52-week lows on the New York Stock Exchange, the most in one day since Oct.... More
