Chinese Stocks in the U.S.: Baidu, China Digital, Sina Corp.
The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, gained 0.2 percent to 422.79. The American Stock Exchange China Index added 0.5 percent to 230.75. The Shanghai Composite Index fell 1.9 percent to 2,838.86.
The following companies were among the most active Chinese shares in New York trading. Stock symbols are in parentheses and prices are as of 4:30 p.m. New York time.
Baidu Inc. (BIDU US) rose 3.2 percent to $106.92. The operator of China’s largest Internet search engine was rated new “buy” at Stifel Nicolaus by equity analyst George Askew. The 12-month target price is $144 per share.
China Digital TV Holding Co. (STV US) increased 6.5 percent to $7.25. The vendor of digital television software forecast fourth-quarter sales of at least $20.8 million. That beat the average analyst estimate of $16.1 million in a Bloomberg survey.
Sina Corp. (SINA US) jumped 5.8 percent to $60.32. The owner of China’s third-most visited website said third-quarter profit climbed 87 percent as online advertising revenue surged.
Suntech Power Holdings Co. (STP US) slid 9.7 percent to $7.53. The world’s largest maker of crystalline silicon solar panels was cut to “underperform” by Credit Suisse Group AG after reporting third-quarter earnings.
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