NetEase.com Jumps 12% On Higher Q4 Vs Yr Ago, Analyst Upgrade 02/24 08:29 AM
08:29 AM Eastern Standard Time, 02/24/2011 (MidnightTrader) -- NetEase.com (NTES:$42.88,00$-0.12,00-0.28%) said late Wednesday Q4 sales were RMB1.7 billion (US$254.5 million), up from RMB1.3 billion a year ago. It reported earnings per ADS of US$0.83, above US$0.67 a year ago. Separately, this morning, Brean Murray reportedly upgraded the shares to buy. Price: 47.94, Change: +5.06 , Percent Change: +11.8 http://www.midnighttrader.com
Historic book publisher Houghton Mifflin Harcourt files for bankruptcy in order to try to eliminate a whopping $3B in debt. The company made a late bid to jump into the electronic books market with an Amazon (AMZN) publishing deal, but couldn't make headway with the debt it piled up while hardcover book sales plummeted due in large part to the influence of its newfound partner.