Shares of China social platform YY (YY) and e-commerce firm Dangdang rose Thursday after each separately announced plans to join the go-private trend, announcing buyout offers led by company executives. YY, nicknamed China’s Twitter (TWTR), announced a buyout valued at $3.7 billion. YY stock was up 3% in midday trading in the stock market today, near 60. YY had collapsed to a four-month low of 52.01 on Tuesday amid a broader China stock market
Cheetah Mobile (CMCM) led the China stock rebound Thursday, as it got a bullish report from an analyst who sees significant growth potential as the company monetizes its vast Internet user base. Cheetah Mobile stock was up 15% in midday trading in the stock market today , near 26. But Cheetah Mobile stock has been volatile. The stock touched its all-time high of 36.63 on May 20 and fell to 19 on Tuesday, as the China stock market crash hurt China’s
Verizon Communications’ (VZ) newly acquired AOL unit might be stocking up on mobile advertising technology as it squares off vs. Google (GOOGL). Millennial Media (MM) stock popped as much as 42% on Thursday — albeit rising only as high as 2.06 — after TechCrunch reported that Verizon is close to buying the mobile advertising network. Verizon stock was up a fraction in morning trading in the stock market today. Millennial Media went public at 13 in