FMCN -- thanks. They missed almost 20%. GS and Citibank still hype it. I guess they must have a lot of shares want to unload<g>
" Among individual issues, shares of China-based Focus Media Holding Ltd. （FMCN) fell 6.9% to $58.26 after the company reported second-quarter results late Thursday. The advertising company reported a net profit of $16.7 million, or 31 cents per American Depositary Share, versus $4.35 million, or 13 cents per ADS, in the year ago period. Excluding items, profit came in at 38 cents a share compared with 15 cents a share last year. Revenue rose to $50.6 million from $14.6 million. Analysts polled by Thomson First Call had forecast earnings of 37 cents a share on revenue of $49 million. The company expects third-quarter earnings, excluding items, of $26 million to $27 million on revenue of $58 million to $60 million. Merrill Lynch reiterated its buy rating on the stock with a price target of $77. At Citigroup, analysts rated the stock a buy with a target price of $75. "We believe that the company's 'out-of-home' advertising business is a simple story with significant intuitive appeal for advertisers," said analyst Jason Brueschke. "This medium is an emerging, and we believe superior, alternative to TV and possibly Internet brand advertising. Focus Media effectively has a monopoly in the commercial location network." Goldman Sachs analyst Kit Low said the company's second-quarter results are "solid" and also rated the company a buy with a 12-month price target of $78. "We view share price weakness as opportunity to accumulate," Low said. ＂ http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B7933D477%2D58EB%2D4CFE%2D84E1%2D41C336EB6B2....
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