Youku Tudou Inc. (NYSE: YOKU) shares fell after the company reported first-quarter revenue below consensus and also guided for second-quarter sales lower than what analysts expected. Over the company’s March-ending quarter, the company reported revenue of $112.7 million while analysts surveyed by Thomson Reuters expected $114.01 million. In its second quarter, the company guided for revenue growth of 25% to 33%, which came in lower than analysts' estimates of 40% growth.
Youku Tudou Inc. operates as an Internet television company in the People’s Republic of China. Its Internet television platform enables consumers to search, view, and share video content across various devices. The company’s services for users comprise online video content library consisting primarily of professionally produced content, including television serial dramas, movies, current event reports, variety shows, and music videos.
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Rite Aid Corporation (NYSE: RAD) shares hit a new 52-week high of $8.15 on Friday after analysts at Credit Suisse reiterated their "outperform" rating on the company’s shares. Credit Suisse has set a price target of $8.50 on the retail drugstore.
Rite Aid Corporation, through its subsidiaries, operates a chain of retail drugstores in the United States. The company sells prescription drugs and a range of other merchandise, including over-the-counter medications, health and beauty aids, personal care items, cosmetics, household items, food and beverages, greeting cards, seasonal merchandise, and other every day and convenience products.
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