Alibaba operates online platforms such as Taobao Marketplace and Tmall.com that connect retail brands with consumers. The Chinese company makes most of its sales from commissions and advertising and competes with Tencent Holdings Ltd and Baidu Inc. (ADR) (NASDAQ:BIDU) for the more than 600 million Internet users in China. Baidu Inc (ADR) (NASDAQ:BIDU) stock performance was -1.19% in last session and finished the day at $157.83. Traded volume was 2.70million shares in the last session and the average volume of the stock remained 4.96million shares. The beta of the stock remained 1.95. Baidu Inc (ADR) (NASDAQ:BIDU) insider ownership is 0.13%.
China has room for more social networks and there is nothing to stop companies from the US or elsewhere from entering, Weibo Corp (ADR) (NASDAQ:WB) Chief Executive Officer Wang Gaofei told the conference. Weibo Corp (ADR) (NASDAQ:WB), China’s most popular micro blog service, was spun off by Sina Corp last month in an initial public offering. Weibo Corp (ADR) (NASDAQ:WB) dropped -5.97 percent to $18.57 Tuesday on volume of 1.73million shares. The intra-day range of the stock was $18.28 to $20.10. Weibo Corp (ADR) (NASDAQ:WB) has a market capitalization of $3.78billion.
Authorities have slapped SINA Corp (NASDAQ:SINA) with a fine of 5.1 million yuan (HK$6.3 million) over “unhealthy and indecent content,” the internet giant announced. The “administrative fine” was imposed by the Beijing Municipal Cultural Market Administrative Law Enforcement Unit, SINA Corp (NASDAQ:SINA) said. SINA Corp (NASDAQ:SINA)’s stock on May 6, 2014 reported a decrease of -0.96% to the closing price of $47.48. Its fifty two weeks range is $46.25 -$92.83. The total market capitalization recorded $3.13billion. The overall volume in the last trading session was 2.23million shares. In its share capital, SINA has 66.02million outstanding shares.
China online stocks such as search site Baidu (BIDU) are taking share from Qihoo 360 Technology Co Ltd (NYSE:QIHU) in mobile app distribution, Benzinga said, citing a Nomura report. The report said mobile games, search and e-commerce remain drivers but was wary on brand ad and travel categories. On Tuesday, shares of Qihoo 360 Technology Co Ltd (NYSE:QIHU) dropped -4.32% to close the day at $83.53. Company return on investment (ROI) is 5.50% and its monthly performance is recorded as -6.50%. Qihoo 360 Technology Co Ltd (NYSE:QIHU) quarterly revenue growth is -13.38%.