Tag Archives: request

Tencent Expected To Maintain Hot Growth In China Internet Field

Tencent Holdings ( TCEHY ), China’s leader in messaging and gaming, is set to report Q4 earnings Thursday before the market open, with double-digit growth in both EPS and revenue expected by Wall Street. Tencent is among the China’s Internet leaders along with e-commerce king Alibaba ( BABA ) and search leader Baidu ( BIDU ). Other China Internet leaders include  e-commerce company JD.com ( JD ) and gaming company NetEase ( NTES ). The consensus estimate is for Tencent to report revenue of $4.26 billion, or 27.76 billion yuan, up 32% in local currency. Earnings per share minus items are expected to rise 32% as well in local currency, to 13 cents, or 0.83 yuan, as polled by Thomson Reuters. Tencent is China’s leader in online gaming, followed closely by NetEase. On Feb. 24 NetEase reported Q4 earnings that beat estimates. Tencent is also the leader in mobile chat services with its popular WeChat program. On Nov. 10, Tencent reported its strongest revenue growth in five quarters with its  Q3 earnings  report, though profit fell short of expectations, due mainly to aggressive investments in mobile. Tencent is traded over the counter in the U.S., with its primary stock listing in Hong Kong, where it is a component of the blue-chip Hang Seng index. On the OTC, Tencent was near 19.50, down a fraction, in afternoon trading in the stock market today . China e-commerce company JD.com reported Q4 earnings on March 1 that showed strong revenue growth and a lower-than-expected loss, defying concerns of economic weakness in that country. JD offers a wide range of electronics, apparel, home appliances, food and beverages and other general merchandise and competes in China’s burgeoning e-commerce arena against Alibaba. A year ago, JD formed a strategic partnership with Tencent.

Amgen Wins Patent Suit Against Regeneron/Sanofi Drug Praluent

Amgen ( AMGN ) won a patent suit against its fellow biotech Regeneron Pharmaceuticals ( REGN ) and partner Sanofi ( SNY ) related to their rival cholesterol drugs Wednesday. Amgen sued in October 2014, charging that Regeneron’s and Sanofi’s co-developed drug Praluent violated patents that Amgen held on its drug Repatha. The two drugs are similar, both being proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitors. Amgen had been slightly ahead in its development timeline, but Regeneron bought a priority-review voucher that let it launch Praluent last July, about a month ahead of Repatha. The case went to a jury, which on Wednesday ruled in favor of Amgen that its patents were valid. Amgen also asked for a permanent injunction, which will be decided in a hearing scheduled for March 23-24. Regeneron’s general counsel, Joseph LaRosa, said in a press release that the companies will appeal. “This is a complex area of law and science, and we believe the facts and controlling law support our position,” said LaRosa. “We look forward to taking our case to the Federal Circuit Court of Appeals, the U.S. appellate court that hears all biopharmaceutical patent appeals.” Evercore ISI analyst Mark Schoenebaum wrote that the appeal could take an additional 12 to 18 months. “Recall, no new arguments are able to be presented in the Appeals Court (appeal is fact-based) and so the bar is relatively high,” he wrote in an email to clients. Analysts have expected the likeliest outcome to the suit would be a royalty paid to Amgen on Praluent sales. Schoenebaum estimated that a 5% royalty could peel 1% off Regeneron’s 2020 EPS. Trading on Regeneron shares were halted midday in the stock market today while the news came out, after rising 2.6% in morning trading. When trading resumed in the early afternoon, Regeneron stock was down more than 1%. Amgen stock, meanwhile, was down a fraction Wednesday afternoon, near 143, while Sanofi stock, which was not halted, was down nearly 2%, near 40.50.

Google And Alphabet Better Take EU Android Probe Seriously: Analyst

Alphabet ( GOOGL ) unit Google has lots to fear from the European Union’s investigation into its Android unit, said investment bank Monness, Crespi, Hardt & Co. in an industry note Wednesday. “The EU’s moves should not be taken lightly,” wrote Moness, Crespi analyst James Cakmak, adding, “The latest string of developments from the EU’s antitrust boss, Margrethe Vestager, suggests a formal complaint to Google may be underway.” The EU is investigating Google on charges related to Android, said Cakmak — in particular, about whether the company required smartphone makers and others to bundle or otherwise include Google apps and services in their products. He said that required bundling is a big threat, “especially when considering it is Android which allows Google services to proliferate on the mobile ecosystem. Unbundling hinders the ability (of Google) to collect data and targeting.  The case will likely end up in court with appeals, but it shouldn’t be taken lightly.” The EU is investigating Google’s Android system following complaints, including those from a group representing Microsoft ( MSFT ), Expedia ( EXPE ) and Nokia ( NOK ), according to media reports. The European Commission said in a statement last year that it was investigating whether “by entering into anticompetitive agreements and/or by abusing a possible dominant position, Google has illegally hindered the development and market access of rival mobile operating systems, mobile communication applications and services in the European Economic Area.” The EU’s challenge to the Google Android operating system followed a formal complaint filed last year that focused on Google’s comparison-shopping service. The commission had charged that Google favors its own shopping-comparison service in its search results. Google faces fines that could exceed $6 billion or injunctions that restrict how the company operates in Europe. EU Has Tightened Privacy Laws EU officials reached an agreement in December to replace a patchwork of digital privacy legislation with one standard law covering the entire EU to govern how companies can use individuals’ personal information. After nearly four years, negotiators agreed in December on a final text of an EU-wide provision to replace 28 different national privacy laws and boost financial penalties for companies that violate the new provision. Europe has been more concerned about digital privacy than the U.S. Google stopped adding to its Street View footage in Germany years ago, amid government objections there. A European “right to be forgotten” has forced Google and others, upon citizens’ requests, to drop links to information about them that’s available publicly elsewhere online. Europe, which lacks major consumer Internet companies, has also gone after Internet companies — especially Google — for alleged market abuses. Alphabet stock was flat in midday trading in the stock market today , near 750, but it’s up roughly 30% in the past 12 months.