31.10 +0.27 (0.88%)
Pre-market: 4:24AM EDT
|Bid||30.85 x 800|
|Ask||0.00 x 1800|
|Day's range||29.68 - 31.21|
|52-week range||29.50 - 55.52|
|Beta (5Y monthly)||1.78|
|PE ratio (TTM)||17.76|
|Earnings date||17 Aug 2020 - 21 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||45.24|
SINA and Weibo are often considered also-rans in China’s crowded tech sector -- but could both stocks rebound as the macro headwinds wane?
SINA Corp.'s (SINA) first-quarter top line reflects weakness in advertising revenues due to the adverse impact of the coronavirus pandemic on overall advertising demand.
Image source: The Motley Fool. Sina Corporation (NASDAQ: SINA)Q1 2020 Earnings CallMay 19, 2020, 8:10 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorThank you for standing by and welcome to the SINA First Quarter of 2020 Earnings Conference Call.
Thank you for standing by and welcome to the Weibo First Quarter 2020 Financial Results Conference Call. The conference call is also being broadcast on Internet and is available through Weibo's IR website. Weibo assumes no obligation to update forward-looking statements in this conference call and elsewhere.
Apple Inc's new iPhone SE for the budget-conscious is unlikely to be a major driver of sales in China, a Weibo survey suggested, with analysts noting its lacks of 5G capability. In a poll conducted on social media site Weibo, 60% of roughly 350,000 respondents said they would not buy the new $399 model, the cheapest iPhone available. "If you don't buy it and I don't buy it, tomorrow the price will drop another 200 yuan ($28)," said one Weibo user whose comment got more than 10,000 likes.
A Chinese media company said it will lay off 500 employees due to the coronavirus outbreak, the latest among a string of firms to do so in the past two weeks as the epidemic takes a toll on small-to-medium sized businesses. Xinchao Media, which places advertisements in elevators, will cut 10% of its workforce to "ensure survival", the company said in a post on its official WeChat account on Monday, which carried the transcript of an internal speech by CEO Zhang Jixue. The job cuts come even as President Xi Jinping said the government would prevent large-scale layoffs caused by the virus outbreak - which has killed more than a 1,000 people in mainland China and infected over 40,000.
A Chinese court has lifted restrictions on the only son of Chinese billionaire Wang Jianlin, the chairman of private conglomerate Dalian Wanda, who hit headlines last month after reports that he owed at least $20 million to creditors. Wang Sicong, a well-known name in China thanks to his high-profile social media displays of a luxurious life, was barred by courts in November from taking trains and planes due to debts incurred by his private equity firm Prometheus Capital which was founded with 500 million yuan ($71.5 million) his father gave him. A Beijing court said this week that Wang's firm had reached settlement with a number of companies that had sued him, leading it to lift those restrictions, which are typically enforced in China on debtors and can extend to bans on hotel stays.
Chinese microblogging website Weibo Corp has taken down an Instagram-like app just three days after its launch and apologised following accusations of plagiarism about the app's logo, a stumble in efforts to find new sources of growth. Weibo, launched by Sina Corp in 2009, is one of China's most established social networking companies, alongside the likes of Tencent Holdings Ltd. But it has been seeking new ways to grow in the face of competition from startups, including short video apps Douyin and Kuaishou. The company, backed by Alibaba Group Holding Ltd, launched image-sharing app Oasis on Monday.
China is sending a team of experts to Thailand - after the death of one of its panda diplomats sparked outrage on social media. Chuang Chuang died in a Thai zoo on Monday (September 16). Chinese social media lit up with outrage at the unexpected death, with a hashtag drawing in 250 million views on Weibo. One user said 'Thailand is so evil... we shouldn't be renting out pandas after this!' Beijing has been engaged in what's often dubbed panda diplomacy since the 1950s. Using their iconic bears as signs of goodwill across the world. President Xi recently presented Russia's president Putin with two furry ambassadors in Moscow. In France, President Macron's wife was named godmother of a feisty young cub back in 2017. Now Chinese Weibo users are saying 'no more pandas for Thailand'. Zoo staff held a moment of silence ahead of a news conference on Tuesday (September 17). One zookeeper said the staff loved and nurtured Chuang Chuang, and hopes everyone will miss him like they do. The cause of his death is still unknown. The zoo says they can't perform an autopsy on the 19-year-old until the Chinese authorities arrive on Thursday (September 19). Pandas generally live around 14 to 20 years in the wild, and up to 30 in captivity - according to the WWF.