JD.com (JD) is the first of a wave of Chinese Internet companies to issue quarterly earnings this week, and its shares rallied Monday. Coming up, Ctrip (CTRP), Vipshop (VIPS), Cheetah Mobile (CMCM), Momo (MOMO), Weibo (WB) and Leju (LEJU) also report their results. Follow Alissa Williams on Twitter @IBD_AWilliams and Facebook.
Cheetah Mobile (CMCM) stock took a hit Tuesday despite handily beating Wall Street’s Q2 forecast, continuing an overall decline that began last week when China devalued its yuan. The Beijing-based mobile- and PC-security provider sprinted past the consensus of eight analysts polled by Thomson Reuters when it reported Q2 earnings late Monday. But, those earnings were held up against China’s already struggling economy. On Friday, China’s securities
We’re now in the thick of earnings season, and unanticipated reactions to company results have kept investors on their toes. Today’s Screen of the Day is Rising Estimates, which looks at stocks that have the greatest increase in earnings estimate revisions. That means analysts are betting on strong future results. Four hot tech stocks made it on the list: (FB), (GPRO), (AMBA) and (CMCM). Facebook Price Target Hikes Facebook is expected to see