China Internet Stocks Pressured After Tencent Q2 Misses (DANG) (RENN)
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China internet stocks were pressured on Wednesday. The decline relates in part to results from Tencent Holdings, China's largest internet company. Tencent's earnings rose 19% to 3.68 billion yuan, short of estimates of 3.9 billion yuan.
Dangdang (NSYE: DANG), Baidu, Inc. (Nasdaq: BIDU), Renren Inc. (NYSE: RENN), Youku Tudou Inc. (NYSE: YOKU), and Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) were among losers. The pullback follows a recent rally for stocks in the group.
Dangdang (NSYE: DANG), Baidu, Inc. (Nasdaq: BIDU), Renren Inc. (NYSE: RENN), Youku Tudou Inc. (NYSE: YOKU), and Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) were among losers. The pullback follows a recent rally for stocks in the group.
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