SINA Corporation (SINA) said that it has dropped plans for acquiring Focus Media Holding Limited (FMCN) due to the delay in approval from China's Ministry of Commerce regarding antitrust issues. The companies have decided not to extend the deadline of the agreement. In order to provide more effective and integrated marketing solutions, SINA entered into a definitive agreement with Focus Media Holding Ltd. in 2008 to acquire substantially all of the assets of Focus Media's digital out-of-home advertising networks, including LCD display network, poster frame network and in-store network.   SINA had said that the $1.4 billion transaction was undergoing antitrust review by the Department of Commerce in China. The companies said that the delay in receiving the approval from the antitrust authorities negatively impacted its business operations. Thus, after due consideration the decision to terminate the contract was taken jointly by both the companies. The ...

SINA Corporation (SINA) has been downgraded from Outperform to Neutral, indicating that the stock would be trading in line with the industry. The company is a leading provider of online media and value-added information services to the global Chinese community. Although SINA’s most recent quarter (second quarter) results beat Zacks Consensus Estimates, they have been down on a year-over-year basis. The company provided disappointing guidance, as customer caution is likely to be a hindrance to advertising spending, particularly the brand advertising segment. Economic growth in China has continued to slow down in the face of the protracted global economic downturn. Competition in the online brand advertising field in China is fierce, crowded by big players such as Sohu.com Inc. (SOHU), Shanda Interactive (SNDA) and Baidu, Inc. (BIDU). Moreover, uncertainty regarding the closure of the Focus Media Holding Ltd. (FMCN) acquisition poses ...

The executive who led Google Inc.’s expansion in China after being hired away from Microsoft Corp. following a high-profile court battle is leaving to start his own business, the U.S. search engine announced Friday.

Kai-Fu Lee will step down as president of Google Greater China in mid-September, the company said. It said he would set up a new venture in Beijing but gave no other details.

Lee was hired by Google in 2004 and oversaw development of services meant to help the search giant expand its share of China’s search market, which is dominated by local rival Baidu Inc.

Google has added market share but trails Baidu, which has 61.6 percent of search traffic, while Google has 29.1 percent, according to Analysys International, a technology research firm.

Google said Boon-Lock Yeo, director of its Shanghai engineering office, would take over Lee’s engineering responsibilities. John Liu, who leads its Greater China sales team, is to

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Guidance Overview   SINA Corporation’s (SINA) third quarter revenue guidance of $91.0 – $94.0 million was below the Zacks Consensus Estimate of $97.0 million. The shares fell 1.12% and closed at $30 yesterday when the company’s lower third quarter 2009 outlook disappointed investors. SINA expects Advertising revenues to be $60.0 – $62.0 million and non-advertising revenues to be $31.0 – $32.0 million in the third quarter. The company remains guarded on advertising spending, particularly brand advertising, as consumers remain cautious. Economic growth in China has continued to slow down in the global economic downturn. SINA is also facing severe competition in its mobile business and expects it to be flat in the next few quarters. Competition in the online brand advertising field in China is fierce crowded by big players such as Sohu.com Inc. (SOHU), Shanda Interactive (SNDA) and Baidu, Inc. (BIDU)....

Baidu Inc. provides Chinese language Internet search services primarily in the People’s Republic of China and Japan. The company’s popular Chinese search platform enables users to find online information, such as Web pages, news, images, and multimedia files.

Products offered by the company include Baidu Web Search, which allows its users to locate information, products, and services using Chinese language search terms. The company also offers Baidu Hi, an IM service; Baidu Youa, an online C2C platform; and Baidu Safety Center for virus scanning, system repair, and online security evaluations.

With the company’s Baidu Desktop Search, users are able to search various files saved on their computer. The Baidu Sobar makes search function available on every web page that a user browses. And with Baidu Internet TV, users can search, watch, and download various shows and programs.

Let us hear your thoughts below: Baidu, Inc. Message Board

Here are the stocks added to the Zacks #1 Rank ("strong buy") List today:

3Com Corp (COMS) 51job Inc (JOBS) Actions Semiconductor Co Ltd (ACTS) Aeropostale Inc (ARO) Companhia de Bebidas das Americas (ABV) American Italian Pasta Co (AIPC) American States Water Co (AWR) Amkor Technology Inc (AMKR) Anworth Mortgage Asset Corp (ANH) Asbury Automotive Group Inc (ABG) Ashland Inc (ASH) Associated British Foods Plc (ASBFY) AudioCodes Ltd (AUDC) Baidu Inc (BIDU) Banco Santander SA (STD) Bank of Montreal (BMO) Barnes & ...

Carter's Inc. (CRI)) has been setting a new 52-week high in almost every session since the last earnings release.

Crushed Estimates

On Jul 28 Carter's reported second-quarter results that included a 5.4% increase in sales, to $318 million. Net income skyrocketed to $11.3 million, up from $2.8 million.

Earnings per share came in at 23 cents, more than 4 times the Zacks consensus estimate, which was 5 cents. This was the company's third surprise in the past 4 quarters.

Analysts Raising Forecasts

Since the report analysts polled by Zacks have been raising their estimates. The consensus is now $1.66, up from $1.57 after 5 analysts have supplied 6 upward revisions. That is no typo, at least one analyst has raised twice.

These projections would yield a 20% growth rate this year and another 7% in 2010.

The Chart

After a few attempts shares of CRI surged past the level of

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Zacks Industry Rank Analysis Highlights: Broadcom, Fairchild Semiconductor, Intel, Linear Technology, Cypress Semiconductor (CY) Semiconductor and Texas Instruments

Baidu, Inc. provides Chinese language Internet search services primarily in the People’s Republic of China and Japan. Baidu Inc. (BIDU.O) is undoubtedly benefitting from its perch atop China’s fast growing Internet search market, ratcheting up an eye-popping 169 percent gain in its share price since the beginning of the year.

LM Ericsson Telephone Co. (ERIC) Ericsson Nabs Nortel Wireless Unit In a last-minute $1.13 billion bid, Ericsson snatched Nortel’s wireless networks unit away from rival Nokia Siemens Networks Nortel gets Canada, U.S. court OK on Ericsson deal

StemCells Inc. Inc.(STEM), a clinical-stage biotechnology company, focuses on the research, development, and commercialization of products derived from stem cell technologies. The U.S. government released new rules on Monday governing federally funded research on human embryonic stem cells, loosening some ethical requirements that scientists said could have cost

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For Immediate Release

Chicago, IL – July 29, 2009 – Four free stock picks are being made available today on Zacks.com. The industry’s leading independent research firm highlights one Zacks #1 Rank Strong Buy or a Zacks #2 Rank Buy stock for each of the four main styles of investing: Aggressive Growth, Growth & Income, Momentum, and Value.

The four highlighted picks are: Baidu, Inc. (BIDU), The TJX Companies, Inc. (TJX), Universal Forest Products Inc. (UFPI) and Oriental Financial Group Inc. (OFG).      Today, Zacks is promoting its ''Buy'' stock recommendations. Four daily picks are offered free at http://at.zacks.com/?id=5607

Zacks #1 Rank Stocks have nearly tripled the S&P 500 since 1988, producing an average annual return of +26%. Performance has been notable even during volatile and down times. For example, during the last bear market, 2000-2002, the market tumbled -37.6% – but Zacks #1 Rank stocks gained +43.8%.

Here

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Here are the stocks added to the Zacks #1 Rank ("strong buy") List today:

3Com Corp (COMS) 3M Co (MMM) American Software Inc (AMSWA) Baidu Inc (BIDU) Buckeye GP Holdings LP (BGH) CA Inc (CA) Carlisle Companies Inc (CSL) CarMax Inc (KMX) Carter's Inc (CRI) Cheesecake Factory Inc (CAKE) Chipotle Mexican Grill Inc (CMG.B) Coach Inc (COH) Ctrip.com International Ltd (CTRP) Digi International Inc (DGII) Dresser-Rand Group Inc (DRC) F5 Networks Inc (FFIV) First Financial Holdings Inc (FFCH) ...