ER on next Monday, so don't expect moving much this week #msg-65398455
Wall St. Earnings Expectations: The average estimate of analysts is for net income of 66 cents per share, a rise of 88.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 62 cents. Between one and three months ago, the average estimate moved up, and has risen from 65 cents during the last month. For the year, analysts are projecting profit of $2.68 per share, a rise of 75.2% from last year.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 3 cents, reporting net income of 47 cents per share against a mean estimate of profit of 44 cents per share.
Savvy Investing Tip: Our CHEAT SHEET investing framework recommends only stocks with two straight quarters of earnings growth.
Baidu May Be Losing Grip On Chinese Search Dominance (BIDU, GOOG, SINA, SOHU, DANG, AMZN, YOKU, RENN) Shares of Baidu (BIDU), the largest provider of Internet search services in China, are off 1% today after a report in the Wall Street Journal noted the company is facing heightened competition for market share in China, the world’s largest Internet market. While Google (GOOG) has seen its market share in China slip due to censorship battles with Chinese policymakers, Baidu still faces competition from other rivals.
The news appears to be a slight drag on the Chinese Internet Stocks Index, which is down 0.3%. SINA’s (SINA) microblogging service Weibo, commonly referred to as the Twitter of China, and Alibaba’s e-commerce search engine Etao.com are just two of the sources of new competition for Baidu, the Journal reports.
Baidu had 75.9% of the Chinese search market in the second quarter, the Journal reported, citing data from Analysis International. That’s nearly quadruple Google’s market share for the same period, but Baidu is also facing competition in the form of Sohu.com’s (SOHU) Sogou and from Tencent Holdings, China’s largest Internet company.
Etao and Weibo aren’t direct search competitors with Baidu, but as Chinese ad spending soars, the companies could compete more for the same users and ad dollars, the Journal reported. In an effort to stave off rivals, Baidu has launched forays into both e-commerce and social networking, though the company’s Baidu Talk, which was meant to be a Weibo rival, was recently suspended because it struggled to compete with its better established counterpart.
Looking at other Index members, E-Commerce China Dangdang (DANG), China’s answer to Amazon.com (AMZN), is off 5%. Youku.com (YOKU) is plunging 4% while Renren (RENN), China’s Facebook equivalent, is down 2%. http://www.tickerspy.com/newswire/?p=4954
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