Diamonds and Dogs
8/15/13Vipshop Holdings Limited (VIPS)
Vipshop is selling off its shares today, down 14.06% at $39.50. The Chinese online retailor saw its shares fall after lower guidance for the third quarter. Vipshop management now sees third quarter revenue of $365 million-$370 million, below Wall Street's view of $376.1 million. CEO Eric Shen said that he still expects strong returns for shareholders over the long-term. However, the lower guidance is weighing on investors especially with the worries surrounding the slowing economy in China. Regardless of the down swing today, Vipshop shares have done extremely well and are well above their 52-week low of $4.76.
Concord Medical Services Holdings Limited (CCM)
Concord Medical Services is looking healthy today, up 17.50% at $4.94. The Chinese radiotherapy and diagnostic imaging company saw its shares jump after news that CEO and COO entered in a share purchase agreement. Mr. Jianyu Yang (CEO) and Mr. Zheng Cheng (COO) have agreed to establish a co under the laws of the British Virgin Islands as the purchaser and cause the purchaser to acquire an aggregate of 37,064,808 ordinary shares and 4,660,976 American Depository Shares, each representing three ordinary shares of the company, from certain other shareholders for a purchase price of $6.10 per ADS, with an aggregate purchase price of $103,797,063.21. Shares of the company set a new 52-week high of $5.22 intraday.