Youku-Tudou Hullabaloo! — Monday’s IP Market Recap

by Kyle Woodley | March 12, 2012 4:30 pm

Youku-Tudou Hullabaloo! — Monday’s IP Market Recap

IPMarketRecap Youku Tudou Hullabaloo!    Monday's IP Market Recap[1]Monday’s big news came from across the left-hand pond in the form of a massive Chinese online video buyout.

Youku.com (NASDAQ:YOKU[2]) said it would buy rival Tudou.com (NASDAQ:TUDO[3]) for about $1 billion in stock, sending both companies surging — YOKU stock gained 27%, and TUDO shares rocketed almost 160% around the $40 mark. The combined company, which will be known as Youku Tudou, will be the biggest online video company in China — the world’s biggest Internet market at more than 450 million users.

The deal also sent other Chinese Internet stocks up, such as Ku6 Media (NASDAQ:KUTV[4], +11.9%), Dangdang (NYSE:DANG[5], +7.1%) and Renren (NYSE:RENN[6], +3.9%). However, online media company SINA Corp. (NASDAQ:SINA[7]) fell 3.5%, and Baidu (NASDAQ:BIDU[8]) — the “Chinese Google” — was slightly down.

The market was otherwise flat Monday, with the S&P 500 finishing just marginally up, weighed down by miners and solar stocks.

First Solar (NASDAQ:FSLR[9]) lost 6%, and SunPower (NASDAQ:SPWR[10]) and Suntech Power (NYSE:STP[11]) each dropped more than 4%. Meanwhile, NovaGold Resources (AMEX:NG[12], -5.9%), Pan American Silver (NASDAQ:PAAS[13], -5.3%) and Agnico-Eagle Mines (NYSE:AEM[14], -3.1%) also fell along with gold and silver prices[15].

Three Up

Three Down

Kyle Woodley[22] is the assistant editor of InvestorPlace.com[23]. As of this writing, he did not hold a position in any of the aforementioned securities. Check out recaps from previous trading days here[24].

Endnotes:
  1. [Image]: http://investorplace.com/hot-topics/investorplace-market-recap/
  2. YOKU: http://studio-5.financialcontent.com/investplace/quote?Symbol=YOKU
  3. TUDO: http://studio-5.financialcontent.com/investplace/quote?Symbol=TODU
  4. KUTV: http://studio-5.financialcontent.com/investplace/quote?Symbol=KUTV
  5. DANG: http://studio-5.financialcontent.com/investplace/quote?Symbol=DANG
  6. RENN: http://studio-5.financialcontent.com/investplace/quote?Symbol=RENN
  7. SINA: http://studio-5.financialcontent.com/investplace/quote?Symbol=SINA
  8. BIDU: http://studio-5.financialcontent.com/investplace/quote?Symbol=BIDU
  9. FSLR: http://studio-5.financialcontent.com/investplace/quote?Symbol=FSLR
  10. SPWR: http://studio-5.financialcontent.com/investplace/quote?Symbol=SPWR
  11. STP: http://studio-5.financialcontent.com/investplace/quote?Symbol=STP
  12. NG: http://studio-5.financialcontent.com/investplace/quote?Symbol=NG
  13. PAAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=PAAS
  14. AEM: http://studio-5.financialcontent.com/investplace/quote?Symbol=AEM
  15. along with gold and silver prices: http://investorplace.com/2012/03/gold-silver-drop-on-ongoing-eu-debt-worries-mining-stocks/
  16. SODA: http://studio-5.financialcontent.com/investplace/quote?Symbol=SODA
  17. INVN: http://studio-5.financialcontent.com/investplace/quote?Symbol=INVN
  18. EFX: http://studio-5.financialcontent.com/investplace/quote?Symbol=EFX
  19. HEK: http://studio-5.financialcontent.com/investplace/quote?Symbol=HEK
  20. HGSI: http://studio-5.financialcontent.com/investplace/quote?Symbol=HGSI
  21. REE: http://studio-5.financialcontent.com/investplace/quote?Symbol=REE
  22. Kyle Woodley: http://investorplace.com/author/kyle-woodley/
  23. InvestorPlace.com: http://investorplace.com/
  24. here: http://investorplace.com/hot-topics/investorplace-market-recap/

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