Today’s Research Reports on Stocks to Watch: Baozun and Baidu
Chinese stock Baozun was one of the biggest gainers in Thursday’s trading session after the company reported strong first quarter results. Shares of Baidu were modestly in the red, falling from some gains it saw earlier this week over Trump’s tweet supporting China’s ZTE Corp. The company reported its own first quarter earnings at the end of last month which beat on both the top and bottom line.
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Baozun Inc. shares closed up almost 19% on Thursday on significant trading volume of roughly 14.3 million shares. The Chinese e-commerce solutions company soared to a new high of $53.90 during intra-day trading after reporting better than expected first quarter results. The company said that revenue hit $146.9 million, a 14.5% increase YOY. It was way past the company’s last guidance of a range of $136.3 million and $141 million. Adjusted net income was $0.09 a share, beating the $0.01 a share that analysts had been expecting. Baozun Chairman and CEO Vincent Qiu said it was an "outstanding quarter." He said, "We are firmly focused on becoming the leading brand e-commerce business partner and technology development and solutions services provider. We plan to continue investing in innovation to further strengthen our industry leading position and create greater value for shareholders." Looking ahead the company is expecting revenue in the range of $166.4 million and $172.7 million. Analysts are calling for $164.9 million.
Access RDI’s Baozun Inc. Research Report at:
Baidu, Inc. shares closed down a modest 1.55% on Thursday with roughly 2.6 million shares traded. The Chinese multinational technology company saw gains earlier in the week after U.S. President Donald Trump had tweeted support in China’s smartphone company ZTE Corp, which had been banned from buying components from the U.S. Shares also saw big gains last month after selling off in March. The company reported first quarter earnings at the end of last month which revealed adjusted earnings of $2.60 a share. This was a 139% increase YOY. Analysts had been waiting for $1.73 share. Sales in the first quarter hit $3.3 billion, a growth of 31% YOY and also beating the $3.1 billion that analysts were waiting for.
Access RDI’s Baidu, Inc. Research Report at:
Our Actionable Research on Baozun Inc. (NASDAQ: BZUN) and Baidu, Inc. (NASDAQ: BIDU) can be downloaded free of charge at Research Driven Investing.
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