Markets are FULL OF surprise......instead of staying UP 300+ points it decided to RETEST SUPPORT again......
On RETEST none of the indices broke 52 week low today.......
It IS a crazy time in market..when we keep talking about RETEST for the 6Th time in 12 days....
Close is where the craziness MAY stop & we MAY start a new STRONG UP market....only close will confirm my thesis ....
In my portfolio :
RIMM UP 28 cents
UYG Down 17 cents
@ 12.16 PM following are green in my watch list :
AAPL,NDN,HOU.TO,UYM,HQU.TO,V,GG,C,
TKC,ICE,CCJ,JRCC,BIDU,SOHU,SAY,VLO,
ABX,ISRG,XLF,SNE,IBN,GOOG,AGU,DIG,FXI,
SNY,AMZN,XLE.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
One day too soon on your mother of all rally prediction. Nice going!
Let's keep out fingers and $$$$ crossed for good luck.
Beat Regards
Saleem: one of our favorite stocks
China Web Site Sohu Quadruples Profit
$1.02 A Share, From 25 Cents
Q3 results and Q4 outlook better than analyst views, but issues no ’09 forecast
BY PETE BARLAS INVESTOR'S BUSINESS DAILY
Sohu.com’s financial results haven’t yet shown any big hits from the global economic meltdown that’s slowed even China’s growth.
The large China Web portal on Monday released third-quarter results that beat analyst views and issued a rosy outlook for the fourth quarter. But the company sidestepped any forecast for an increasingly grim-looking 2009, and uneasy investors sent its U.S. stock down 4.5%, to 42.73. Shares have fallen more than 53% since Sohu’s stock reached an all-time high above 91 in June.
James Lee, an analyst for investment bank Sterne Agee, says there’s no reason special to Sohu for the stock’s decline. “It’s just that the market is horrible,” said Lee, who rates the stock a buy.
Last quarter, Sohu capitalized on the growth of display ads associated with the Beijing Summer Olympics in August. It also saw a sharp rise in online game revenue.
The company’s growth story continues on track for the time being, says Lee.
“All of the numbers are good in terms of branded advertising and gaming, but the biggest question is the uncertainty going into 2009 regarding the economic slowdown,” he said.
In the quarter, Sohu posted a per share profit of $1.02 vs. 25 cents in the year-ago period. Analysts polled by Thomson Reuters expected 94 cents, on average.
Revenue jumped 134% to $120.7 million, said the company, which reported results in U.S. dollars. Analysts had expected $114.6 million. Sales exceeded the high end of the company’s outlook, issued three months ago, by $4.7 million.
For the current quarter, Sohu expects per share profit of $1.14 to $1.18 on revenue of $118 million to $122 million. Analysts had been expecting $1.07 a share on revenue of $116.4 million.
Sohu continues to thrive in the nascent but growing China Internet market, Charles Zhang, the company’s chief executive, said in a conference call with analysts.
“The third quarter of 2008 marks the sixth consecutive quarter in which we reported record total revenue, record revenues in every category and record net income,” he said. “Due to significant expansion of Internet penetration . . . advertisers continue to shift more ad budgets from offline to online sources to maximize the efficiency and effectiveness of (their) marketing campaigns.”
The biggest challenge for Sohu is what lies around the bend in 2009, Tian Hou, an analyst for Pali Research, said in an e-mail from China.
“We are not surprised about Sohu’s third-quarter results and fourth-quarter guidance . . . what people care about is the 2009 guidance and China economy in 2009,” she wrote.
But Sohu isn’t sure what 2009 will bring, Zhang said in the conference call.
“Since we have just begun the annual negotiation process with advertisers for their 2009 budget allocations, for Sohu it is still too early to comment on the expected growth for 2009,” he said.
Sohu counts automakers, auto dealers, financial services firms and real estate companies among its top advertisers. All are among the sectors most hurt by the economic downturn.
China’s gross domestic product growth rate slowed to 9% in the third quarter, the lowest in five years. The growth is down from more than 10% in each of the previous two quarters, says the China National Bureau of Statistics.
But Monday Zhang said there has been no indication that Sohu would take a hit from the economy.
“As of today we haven’t seen any of our major advertisers making significant changes to their fourthquarter online marketing campaigns,” he said.
In the third quarter, Sohu said, ad revenue jumped 62% to $51.1 million. It didn’t say how much ad revenue it attributed to the Olympics.
The firm’s online game revenue soared by 330% to $54.6 million. Most of that revenue came from the company’s multiplayer online roleplaying game, Tian Long Ba Bu. The company began offering the game in Taiwan and Hong Kong in April, after launching it in Vietnam in August 2007. Sohu says it has 100,000 game users for Tian Long Ba Bu in those three regions alone.
The company plans to roll out Tian Long Ba Bu in more countries.
The rest of Sohu’s online game revenue came from a revamp of an older game, Blade Online.
Sohu is developing two other games, and has obtained a license to operate a third game in China.
“Sohu’s online game business will not be adversely affected by the macroeconomic climate and will continue to perform well,” Zhang said.
Hi Standards,
Mother of all RALLY as per my before OPEN forecast TODAY.....
Nice to have this GAIN $$$$
Saleem
Hi Madmax,
Yesterday SOHU reported great ER,Guidance & stock buy back $$$
Saleem
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