Despite upbeat U.S. retail sales data U.S. markets fell sharply on growing tensions in the Ukraine and more disappointing economic data from China. The Dow Jones declined 231.19 points to close at 16,108.89, while the S&P 500 Index fell 21.86 to close at 1,846.34. China, the world’s second largest economy, reported factory output grew 8.6 percent in the January-February period, which was short of analysts’ estimates, according to Bloomberg. Separately, the Commerce Department reported retail sales in the U.S. increased 0.3 percent in February, following a 0.6 percent decline in January.
Ctrip.com International, Ltd. (NASDAQ: CTRP) shares traded in the range of $48.80 to $52.39 Thursday before settling to close at $49.36, a decrease of 3.86 percent. The stock appears to be facing some resistance at the $50.13 and $52.70 levels with some support at $47.49 and $46.16. Aegis Capital has initiated coverage on the company with a “buy” rating and a price target of $60.00. Shares of Ctrip.com are down approximately 0.50 percent year-to-date.
More information on Ctrip.com and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CTRP
Changyou.com Ltd. (NASDAQ: CYOU) shares traded in the range of $26.92 to $28.90 Thursday before settling to close at $27.49, a decrease of 2.86 percent. The stock appears to be facing some resistance at the $29.09 and $30.05 levels with some support at $27.30 and $25.77. Credit Suisse has initiated coverage on the company with a “neutral” rating. Shares of Changyou.com are down approximately 14.0 percent year-to-date.
More information on Changyou.com and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CYOU
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) shares traded in the range of $112.53 to $120.17 Thursday before settling to close at $114.10, a decrease of 2.25 percent. The stock appears to be facing some resistance at the $115.41 and $123.82 levels with some support at $111.16 and $105.54. Credit Suisse has upgraded the company’s rating to “outperform” from “neutral”. Shares of Qihoo 360 are up approximately 40.0 percent year-to-date.
More information on Qihoo 360 and access to the free equity report can be found at:
www.WallStreetFundamentals.com/QIHU
YY Inc. (NASDAQ: YY) shares traded in the range of $80.34 to $85.98 Thursday before settling to close at $81.20, a decrease of 1.31 percent. The stock appears to be facing some resistance at the $87.00 and $89.05 levels with some support at $80.37 and $77.86. Credit Suisse has initiated coverage on the company with an “outperform” rating and a price target of $113.00. Shares of YY are up approximately 60.0 percent year-to-date.
More information on YY and access to the free equity report can be found at:
www.WallStreetFundamentals.com/YY
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