Posts Tagged ‘china stocks’

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CCCLU clicking, CSCO awaits Q1 results, IDSA slides on earnings info

Wednesday, November 10th, 2010

China Ceramics Company Ltd. (NasdaqCM: CCCLU) took off solidly, gaining 28 percent in mid-afternoon trade Wednesday to $8.00. Volume was only 200 shares, with daily average volume not available at press time. The leading Chinese manufacturer of ceramic tiles reported third-quarter revenues of $43.3 million, up 24.7 percent from the prior-year quarter, and gross profit of $13.8 million, up 24.2 percent from last year’s Q3.

Cisco Systems Inc. (NasdaqGS: CSCO) added 0.45 percent in price in mid-Wednesday trading to $24.46. Volume was 43,238,999 shares, reducing the gap with its daily volume average of 56,281,400 shares. The San Francisco-based tech giant is set to report results for the first quarter after Wednesday’s close.

Industrial Services of America Inc. (NasdaqCM: IDSA) dumped 20.38 percent in price Wednesday afternoon to $12.31. Share volume of 622,023 towered over its average of 171,574 shares. The dismal news follows word that IDSA reported Wednesday that net income for the third quarter fell 13.6 percent to $1.9 million, or 28 cents per share, from $2.2 million, or 37 cents per share in Q3 2009.

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Posted in Consumer Discretionary Stocks, Industrial Stocks, Technology Stocks | 1 Comment »

Notable Nasdaq Gainers – APPY, MIPS, SUPG, MCOX

Tuesday, October 26th, 2010

AspenBio Pharma, Inc. (Nasdaq: APPY) shares are up more than 125 percent since October 18th. Shares opened this morning at $0.60 and surged as high as $0.98. The company issued a news release this morning before the opening bell announcing that it has initiated manufacturing of its AppyScore™ cassette-based test system to be used in further validation and verification testing. AppyScore is a blood-based diagnostic test designed to aid emergency department physicians in the difficult challenge of evaluating patients suspected of having appendicitis. AspenBio Pharma also announced that it has contracted with Michael Wandell, PharmD to lead its human diagnostic products’ clinical and regulatory strategy, and Erik Miller to spearhead the company’s commercial planning efforts.

MIPS Technologies, Inc. (Nasdaq: MIPS) shares increased almost 24 percent from Monday’s closing price in morning trading on Tuesday after the chip maker announced first quarter  profit of  $7.6 million, or 16 cents per share, compared with $595,000, or a penny per share, a year earlier. Excluding one-time items, MIPS earned 17 cents per share. Analysts polled by Thomson Reuters expected earnings of  7 cents per share. MIPS Technologies’ quarterly revenue jumped 50 percent to $22.5 million, largely driven by a big jump in royalties revenue. Analysts expected $19.7 million in revenue. Shares of MIPS are up about 113 percent over the past 12-months.

SuperGen, Inc. (Nasdaq: SUPG) shares were up as much as 27 percent from Monday’s closing price in morning trading on Tuesday, after the oncology-focused biotech company announced better-than-expected third-quarter profit, driven by by royalty revenue from its blood cancer drug, Dacogen. Third-quarter net income increased  to $3.9 million, or 6 cents a share, from $833,000 or 1 cent a share, a year ago. Revenue in the quarter rose 29 percent to $13.4 million. Royalty revenue from Dacogen rose was up $2.8 million to $13.2 million. Analysts on an average were expecting a loss of a penny per share on revenue of $11.18 million. SuperGen also raised its outlook for 2010. The company expects full-year profit of less than $12 million, up from its previous estimate of less than $4.5 million. SuperGen expects royalty revenue from Dacogen to be between $49 million and $52 million, up from its previously estimated range of $44 million to $48 million.

Mecox Lane Limited (Nasdaq: MCOX) shares had a great debut on Tuesday, opening nearly 60 percent above its initial public offering price. Mecox, which sells clothing and accessories to young  women, sold 11.74 million American Depositary Shares for $11 each, raising about $129.17 million. Shares soared as high as $18.50 in morning trading on Tuesday. Credit Suisse Securities (USA) LLC and UBS AG acted as joint bookrunners for the offering. Oppenheimer & Co. Inc. and Roth Capital Partners, LLC acted as co-managers for the offering. Mecox Lane’s website, M18.com, sells proprietary brands including Euromoda and Rampage, and well-known third party brands including Adidas and Daphne. The company had about 2.1 million active online customers as of June 30. For the six months ended June 30, Mecox Lane posted net revenue of $108.03 million, up 41.6 percent from a year earlier. Net income for the same period fell 37.7 percent to $2.53 million, from a year earlier.

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Posted in Consumer Discretionary Stocks, Health Care Stocks, Technology Stocks | No Comments »

Sohu.com, Inc. (SOHU) – Buzz Stock of the Day

Monday, October 25th, 2010

Sohu.com, Inc. (Nasdaq: SOHU)Shares of Chinese Web portal Sohu.com, Inc. (Nasdaq: SOHU) touched a new 52-week high on Monday after the company announced third quarter results that soundly beat the Street’s estimates. The improved results were primarily driven by revenue growth in the company’s online gaming segment.  Other contributing factors included a 134 percent increase in the company’s paid search revenue and an 22 percent increase in Sohu’s advertising revenue, over the same period last year.
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“Our largest business segment, online games, powered by the successful release of new expansion packs for our proprietary flagship product and the launch of new licensed games, once again achieved solid results,” said Sohu’s Chairman and CEO Dr. Charles Zhang in a statement.

“Our brand advertising business also set new records in the third quarter,” said Sohu’s Co-President and Chief Operating Officer Belinda Wang in a statement. “Our expanding group of advertising partners is taking advantage of strong economic conditions in China along with particular strength in each of their end markets.  More specifically, they are looking to us to help maximize their advertising spending based on our significant investments in our online platform and other value-added solutions.”

Sohu’s quarterly profit increased to $38.7 million, or $1.01 a share, from $34.4 million, or 88 cents, a year earlier. Year-over-year, Sohu’s total revenue increased 20 percent to a record, $164.1 million, well above analysts’ estimates of $156.7 million. Revenue from the company’s online gaming segment, which comprises more than half of  its total revenue, increased 25 percent to $85.6 million, over the same period last year.

Sohu forecast revenue of between $163 million and $168 million for the current quarter, versus $162.58 million expected; profit per share, excluding some costs, is projected at $1.10 to $1.15, versus the 95 cent average estimate.

The online gaming segment, powered by Changyou.com Ltd. (Nasdaq: CYOU)  has three more in-house games under development and they plan to launch one every quarter, according to Think Equity analyst Atul Bagga.

Changyou also just reported a record quarter with $85.6 million in sales, and $45.3 million in profit, up 25 percent, and 20 percent respectively, over the same period last year.

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Posted in Consumer Discretionary Stocks, Technology Stocks | No Comments »

SinoCoking and Coke Chemical Industries, Inc. (SCOK) – Buzz Stock of the Day

Monday, August 23rd, 2010

Shares of coal products maker SinoCoking and Coke Chemical Industries, Inc. (Nasdaq: SCOK) were up nearly 30 percent from Friday’s closing price in morning trading on Monday.

Last week, the company announced that its wholly controlled affiliate, Pingdingshan Hongli Coal & Coke Co., Ltd. entered into a definitive agreement to acquire a 60 percent equity interest in Baofeng Shuangrui Coal Co., Ltd. for approximately $12.4 million. Baofeng operates the Xingsheng Coal Mine. The coalmines are similar in size, each with 2 million metric tons of estimated coal reserves.
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“This is a significant milestone and denotes the first step in our consolidation strategy,” said Jianhua Lv, Chairman and CEO of SinoCoking in a statement. “As the Chinese government continues its efforts to consolidate small coal mines to improve both production efficiencies and safety protocols, we are well positioned with the appropriate approvals to capitalize on this opportunity.”

Pursuant to the Agreements, Hongli will the pay the owners of each mining company an aggregate purchase price of $6.2 million in cash, of which approximately $1.5 million was provided as a refundable deposit to examine the financials, licenses, and reserve data. The purchase will be made under the following schedule for each mining company: $1.7 million within 30 business days from the September 10, 2010; $0.7 million within 20 business days from the completion of the transfer of equity interests to Hongli; $0.7 million within six months from the completion of the transfer of equity interests to Hongli; the balance within one year from the completion of the transfer of equity interests to Hongli. If total annual output is less than 150,000 metric tons, Hongli is entitled to an additional 10 percent of equity interests; and if coal reserves are less than 2 million metric tons, Hongli is entitled to an additional 10 percent of equity interests.

Shares of SinoCoking and Coke Chemical Industries, Inc. are trading about 70 percent lower than their 52-week high of $53.70 per share.

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Posted in Energy Stocks, Industrial Stocks, Materials Stocks | No Comments »

Guanwei Recycling Corp. (GPRC) – Buzz Stock of the Day

Wednesday, August 4th, 2010

Shares of Chinese polyethylene manufacturer, Guanwei Recycling Corp. (Nasdaq: GPRC) were up more than 20 percent from Tuesday’s closing price in morning trading on Monday. Trading volume was more than 10 times the company’s three-month average.

“China, right now is the biggest plastic importer in the world,” said Guanwei Recycling’s VP of marketing Liya Wu, in an interview with TheStreet.com. “Our annual import of plastic waste is about…5 million tons to 7 million tons. So it’s really the biggest market. China is not only the biggest market not only in the volume of the plastic manufacturer, but also as a plastic products exporter, and we are the biggest recycler of plastics.”
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Guanwei Recycling generates most of its business from Europe. Most recently, the company announced a sales contract with Sunshine Handels & Consulting GmbH, a leading German recycling company, for the purchase of 25,000 tons of LDPE waste through June 2011, which will be converted into recycled LDPE at Guanwei’s clean tech facilities in Fuqing City. Europe, has a “higher waste classification system” than the U.S., according to Wu.

Guanwei is currently focused on increasing its environmental protection levels, and increasing its manufacturing capacity, according to Wu.

For the three months ended March 31, 2010, net revenue was $9,494,226, representing a 58.01% decrease from net revenue of $22,611,689 for the three months ended March 31, 2009. This sharp decrease was primarily caused by the fact that, unlike the first quarter of 2009, Guanwei did not sell any raw materials or purchased recycled LDPE during the first quarter of 2010.

Shares are currently trading about about 21 percent lower than the company’s 52-week high of $5.70.

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Posted in Industrial Stocks, Materials Stocks | No Comments »

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