Boston, MA 03/27/2014 (wallstreetpr) – Owing to its success in online television service, Youku Tudou Inc (ADR) (NYSE:YOKU) is increasingly becoming an investment target of many institutional investors. It is reported that Tencent which already operates a video unit and has strong presence online and on mobile, may invest in YOKU, scooping up to 20 percent stake in the company. And if that happens, YOKU might experience more than $300 million cash from the investment. Various media outlets have reported that Tencent is salivating for YOKU; however, the two companies have kept mum over the matter. Besides, Tencent, e-commerce operator Alibaba was also reported to be circling YOKU for investment, but market experts believe that a deal between Tencent and YOKU will be more meaningful given that the two companies already enjoy strong position in online video sharing business. It remains to be seen what comes out of these rumors, but what is clear is that investors are pleased with the happenings at Youku Tudou Inc (ADR) (NYSE:YOKU), sending the shares up 3.32 percent to $28.67 during Wednesday session.
Having reported encouraging results for the fourth quarter, shares of China Recycling Energy Corp. (NASDAQ:CREG) continue to benefit from boosted investor confidence. The Wednesday session saw the shares close at $4.68, up 3.77 percent. Earlier on the shares escalated to a high of $5.12, and dropped to a day low of $4.63. The day saw above average amount of shares changing hands. The excitement around the stock was started by the financial report which showed the company earned net income of $4.2 million or 7 cents per share, beating the comparable quarter numbers of $1.6 million or 3 cents. Sales were also up significantly in the quarter, coming at $13.20 million against $0.2 million in the corresponding quarter a year ago.
TIM Participacoes SA (ADR) (NYSE:TSU) witnessed its shares going up in the last session. Shares of the company settled at $25.21, taking a gain of 4.13 percent. The day of above average volume trading saw shares shifting hands between $24.77 low and $25.87 high. The company is facing a tough challenge brewing up in the Brazil’s telecoms market. Its rival Oi SA (ADR) (NYSE:OIBR) and Portugal Telecom are working towards a merger than could present a more competitive business environment.
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