For Immediate Release Chicago, IL – May 30, 2014 – Zacks.com announces the account of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts altercate the latest account and contest impacting stocks and the cyberbanking markets. Stocks afresh featured in the blog accommodate the Qihoo 360 (QIHU-Free Report), JinkoSolar Holding Co. Ltd. (JKS-Free Report), Giant Interactive Group Inc. (GA-Free Report), IBM Corp. (IBM-Free Report) and PetroChina Co. Ltd. (PTR-Free Report). Today, Zacks is advertisement its ”Buy” banal recommendations. Get #1Stock of the Day aces for free.
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Here are highlights from Thursday’s Analyst Blog:
China Banal Roundup
Stocks had a abundantly absolute anniversary afterward break that the government would apparatus assorted activity measures to addition growth. Markets acquired on Monday afterward break that the government will acquaint measures to abutment growth.
However, indexes confused downwards on Tuesday catastrophe a three-day acceptable streak. Markets alternate to their acceptable means on Wednesday, powered by tech stocks while they concluded collapsed on Thursday. Alone Hong Kong shares confused upwards today additional by assets in Chinese allowance stocks. Qihoo 360 (QIHU-Free Report) beat accumulation estimates while balance from JinkoSolar Holding Co. Ltd. (JKS-Free Report) and Giant Interactive Group Inc. (GA-Free Report) came in beneath expectations.
Last Week’s Developments
The criterion base added on Friday afterward letters that the government would relax restrictions on the acreage sector. Such activity would additionally admonition the abridgement to accomplish its annual advance target. The Shanghai acreage sub base added 2.1%, the better accretion fabricated aback April 22. The Shanghai Composite Base acquired 0.7% while the CSI added 0.8%. The Hang Seng Base acquired 0.1%.
Gains for the CSI 300 came on the aback of a assemblage in tech stocks, led by software companies. The Hang Seng China Enterprises Base confused up 0.1%. For the week, the Shanghai Composite Base acquired 0.4% while the Hang Seng Base added 1.1%. A abatement in home sales and architecture has impeded bread-and-butter advance and apropos about the acreage area remain. Markets and the Abridgement This Week
Markets acquired on Monday afterward break that the government will booty measures to abutment growth. Economists interpreted comments from Premier Li Keqiang as an adumbration that there would be budgetary easing. President Xi Jinping said the country should admission advance in the airlines area and fatigued on the development on new activity vehicles. These statements led to assets for busline stocks.
Premier Li’s comments helped the Shanghai Composite Base accretion 0.3% while the CSI 300 added 0.4%. The ChiNext, which is an base of abate stocks, surged 1.9%, its sixth alternating day of gains. The Hang Seng China Enterprises Base confused up 0.2%. The Bloomberg China-US Equity Base beneath 0.3%.
Stocks beneath on Tuesday afterward three alternating canicule of gains. Absolute and automated companies absent the best as volumes remained low on the Shanghai exchange. The Shanghai Composite Base absent 0.3% afterwards trading volumes beneath 19% from their 30-day average.
At this point, the criterion base had absent 3.85% over the year. This was primarily due to apprehensions that lower advance and a arrest in the acreage bazaar would appulse earnings. The CSI 300 beneath 0.4% while its sub base of automated and absolute stocks absent 0.7%. The Hang Seng China Enterprises Base confused bottomward 0.4%.
The Shanghai Composite Base added 0.8% on Wednesday, assertive to accomplishment 1.2% college for the month. Assets were led by tech stocks which added the best in three months. According to reports, the Chinese government is evaluating whether the calm cyberbanking sector’s assurance on servers from IBM Corp. (IBM-Free Report) is abrasive the country’s cyberbanking security.
This development fueled assets in tech stocks, with the CSI 300 Admonition Technology Base affective up 2.8%. There are expectations that calm technology companies will get a addition afterward such reports. The CSI 300 added 1% while the Hang Seng China Enterprises Base acquired 1.1%. The Bloomberg China-US Equity Base added 0.6%.
The Shanghai Composite Base concluded collapsed as telecom and article ambassador stocks took losses. The CSI 300 additionally concluded flat. Pharma stocks fabricated assets afterward the advertisement of new behavior acceptance clandestine hospitals greater admission to the healthcare system.
Shares in Hong Kong gained, led college by Chinese allowance companies. The allowance area acquaint able increases afterward an advancement by Morgan Stanley. The Hang Seng added 0.5%, affective afterpiece to the accomplished point accomplished in April. The Hang Seng China Enterprises Base acquired 0.7%.
Stocks in the News
Qihoo 360 reported first-quarter 2014 balance per ADS of 40 cents, beyond the Zacks Consensus Estimate of 34 cents. Qihoo’s absolute acquirement was $265.1 million, up 19.6% sequentially and 141.3% year over year. Appear revenues were aloft management’s accepted ambit of $117.8 to $228.0 million.
Online advertisement revenues were $140.0 million, collapsed sequentially but up 120.9% from the year-ago quarter. The admission was apprenticed by added monetization of user activities on 360 Personalized Start-up Pages and able addition from chase and adaptable advertising.
Internet value-added account revenues were $124.8 million, up 58.2% sequentially and 172.2% year over year. The admission was apprenticed by able ramp-up in adaptable amateur and advantageous achievement in PC bold operations.
JinkoSolar Holding Co. Ltd. reported aboriginal division 2014 after-effects with adapted balance per American Depositary Allotment (ADS) of 20 cents (adjusted balance of 5 cents per share), abundant lower than the Zacks Consensus Estimate of 41 cents. The company, however, antipodal its year-ago adapted accident per ADS of 56 cents (adjusted accident of 14 cents per share) in the appear quarter. Each “ADS” represents four accustomed shares. Balance in the division came on the aback of JinkoSolar’s advanced bounded expansion.
JinkoSolar’s revenues in the appear division were $323.9 million, assault the Zacks Consensus Estimate of $308.0 actor by 5.2%. The top band decreased 8.0% sequentially but added 73.1% year over year.
Lower-than-expected balance nonetheless evoked a abrogating bazaar acknowledgment with the shares accident 3.0% to abutting at $25.08 on May 27. Allotment prices, however, recovered 4.5% to abutting at $26.21 on May 28.
Giant Interactive Group Inc. appear aboriginal division budgetary 2014 adapted balance of 22 cents (on a bounded bill basis). Balance were about collapsed year over year attributable to anemic sales. Earnings, however, lagged the Zacks Consensus Estimate of 25 cents by 12%.
Net acquirement of $92.5 actor was hardly up by 0.4% (on a bounded bill basis). Sales, however, lagged the Zacks Consensus Estimate of $102 actor due to anemic seasonality and abridgement of new bold launches. Also, in-game spending beneath sequentially as bodies catholic added during the Chinese New Year holiday.
The aggregation witnessed a 5.6% admission in alive advantageous accounts (APA) for online amateur mainly due to the addition from the ZT Online franchise, while boilerplate acquirement per user (:ARPU) for online amateur beneath 3.4% during the quarter.
Gross accumulation added 3.9% year over year to $81.9 actor due to a 20.1% abatement in amount of services, which was mainly due to lower costs accrued for the company’s accountant amateur in aboriginal division 2014.
PetroChina Co. Ltd.’s (PTR-Free Report) ancestor aggregation China National Petroleum Corporation (“CNPC”) – intends to advance about $2.0 billion in Peru over a aeon of 10 years. In the contempo past, CNPC purchased a accustomed gas block in Peru from the better chip oil aggregation in Brazil.
CNPC has already accustomed permission from the authoritative bodies of Peru for advance $1.0 billion in upstream operations in the accustomed gas acreage bought from Petrobras. The mother aggregation of PetroChina is additionally attractive for opportunities to advance $4.0 billion in southern Peru for a accustomed gas activity project. The activity is accepted to backpack gas to the thermoelectric plants amid at the Pacific bank of Peru from Camisea gas fields.
Today, Zacks is advertisement its ”Buy” banal recommendations. Get #1Stock of the Day aces for free.
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Zacks.com is a acreage of Zacks Advance Research, Inc., which was formed in 1978. The afterwards accumulation of the Zacks Rank, a proprietary banal acrimonious system; continues to beat the bazaar by about a 3 to 1 margin. The best way to alleviate the assisting banal recommendations and bazaar insights of Zacks Advance Research is through our chargeless circadian email newsletter; Accumulation from the Pros. In short, it’s your abiding breeze of Assisting account GUARANTEED to be account your time! Register for your chargeless cable to Accumulation from the Pros. Get the abounding Address on QIHU – FREEGet the abounding Address on JKS – FREEGet the abounding Address on GA – FREEGet the abounding Address on IBM – FREEGet the abounding Address on PTR – FREE Follow us on Twitter: http://twitter.com/zacksresearch
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