On Monday, Shares of Baidu Inc (ADR) (NASDAQ:BIDU), gained 5.48% to $166.24.
Baidu, declared that the company has accomplished a share exchange transaction with Ctrip.com International, Ltd., following which Baidu has exchanged 178,702,519 Class A ordinary shares and 11,450,000 Class B ordinary shares of Qunar Cayman Islands Limited beneficially owned by Baidu preceding to the consummation of the transaction in exchange for 11,488,381 newly-issued ordinary shares of Ctrip. The share exchange ratio for the transaction is 0.725 Ctrip ADSs per Qunar ADS. As a result of the transaction, Baidu will own ordinary shares of Ctrip representing about 25% of Ctrips aggregate voting interest , and Ctrip will own ordinary shares of Qunar representing about 45% of Qunars aggregate voting interest.
Four representatives, counting James Liang and Jane Sun, chairman and chief executive officer, and co-president and chief operating officer of Ctrip, respectively, have been designated to Qunars board of directors, and Robin Li and Tony Yip, chairman and chief executive officer, and vice president, head of investments, mergers and acquisitions of Baidu, respectively, have been designated to Ctrips board of directors.
Baidu and Ctrip have also agreed to a business cooperation across a broad base of products and services. Baidu anticipates to continue its existing business cooperation with Qunar.
Baidu, Inc. provides Internet search services in China and internationally. It offers Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, counting Web pages, news, images, documents, and multimedia files through links offered on its Website; and international products and services to users in other countries.
Shares of Skechers USA Inc (NYSE:SKX), inclined 0.66% to $31.85, during its last trading session.
Skechers USA Inc, declared financial results for the third quarter ended September 30, 2015. All share and per share information has been retroactively adjusted for the three-for-one stock split that was effective on October 15, 2015.
Third quarter 2015 net sales were $856.2 million contrast to $674.3 million for the third quarter of 2014. Gross profit for the third quarter of 2015 was $387.0 million or 45.2 percent of net sales contrast to $304.5 million or 45.2 percent of net sales for the third quarter of last year. Earnings from operations for the third quarter of 2015 were $95.6 million as contrast to earnings from operations of $74.1 million in the third quarter of 2014.
Net earnings for the third quarter were $66.6 million contrast to net earnings of $51.1 million in the third quarter of 2014, an improvement of 30.3 percent. Diluted net earnings per share for the third quarter were $0.43 on 154.5 million weighted average shares outstanding, contrast to diluted net earnings per share of $0.33 on 153.0 million weighted average shares outstanding for the third quarter of 2014. The Company’s diluted earnings per share for the third quarter of 2015 was negatively influenced by several factors counting foreign currency translation and exchange losses of $13.5 million, and raised deferred rent expenses of $3.5 million related to the new Fifth Avenue Skechers retail store, which opened during the third quarter, and a second Skechers location in Times Square, which just opened. Additionally, during the third quarter of 2015 diluted earnings per share were influenced by raised legal expenses of $5.0 million related to the settlement of personal injury lawsuits from the Company’s toning footwear business; and $5.9 million in higher legal fees and associated costs primarily related to intellectual property litigation, which comprised the matter of Converse, Inc. v. Skechers U.S.A., Inc., which went to trial before the International Trade Commission in August of this year. The Company believes that most, if not all, of these legal matters will come to a conclusion by early next year. During the third quarter of 2015, these additional expenses reduced diluted earnings per share by $0.15.
Skechers U.S.A., Inc. designs, develops, markets, and distributes footwear for men, women, and children, in addition to performance footwear for men and women under the Skechers GO brand name worldwide. It operates through four segments: Domestic Wholesale Sales, International Wholesale Sales, Retail Sales, and E-commerce Sales.
Finally, Shares of T-Mobile US Inc (NYSE:TMUS), ended its last trade with 0.27% gain, and closed at $41.38.
T-Mobile US, stated third quarter 2015 results which continue to lead the wireless industry in both customer and financial growth. T-Mobile added 2.3 million total net customers and outperformed the industry once again by delivering 11% service revenue growth and 42% growth in Adjusted EBITDA contrast to the third quarter of 2014. T-Mobile’s growth has been fueled by the performance of its nationwide 4G LTE network, which now covers over 300 million Americans and continues to be the fastest in the nation.
“We’ve had 10 quarters in a row with over 1 million net new customers, 5 with over a million branded postpaid customers and a total of 2.3 million new customers this quarter alone,” said John Legere, President & CEO of T-Mobile. “Our momentum is strong and our incredible customer growth is translating directly into solid financial growth which makes it crystal clear that putting customers first is just good business.”
Industry-Leading Customer Growth in Q3 2015
T-Mobile continued to be the fastest growing wireless company in America in the third quarter of 2015 as customers continue to flock to the Un-carrier for value, flexibility and choice. The Company stated 61.2 million total customers at the end of the third quarter, growing its base by 2.3 million total customers. T-Mobile has successfully delivered over 1 million total net customer additions for the past ten quarters and more than 2 million in five of the past seven quarters. T-Mobile’s branded postpaid net customer additions were 1.1 million, marking the fifth quarter in a row where the Company was able to deliver more than 1 million postpaid nets. Continued focus on the postpaid phone customer segment the most valuable customer segment of the market resulted in 843,000 customer additions, the highest in the U.S. wireless industry once again. The Company also stated 242,000 mobile broadband net customer additions in the quarter.
T-Mobile US, Inc., together with its auxiliaries, provides mobile communications services in the United States, Puerto Rico, and the U.S. Virgin Islands. The company offers voice, messaging, and data services in the postpaid, prepaid, and wholesale markets.
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