Momentum Stocks: Baidu Inc (ADR) (NASDAQ:BIDU), Renren Inc (NYSE:RENN), Yelp Inc (NYSE:YELP), Facebook Inc (NASDAQ:FB)



Tencent, owner of the WeChat instant messaging application, is making acquisitions to bolster content and location services amid increased competition from Alibaba Group Holding Ltd. and Baidu Inc. (ADR) (NASDAQ:BIDU). The Shenzhen-based company’s online gaming revenue of 8.5 billion yuan ($1.4 billion) last quarter was unchanged from the previous quarter as sales from titles including “League of Legends” and “Cross Fire” slowed. Baidu Inc (ADR) (NASDAQ:BIDU) stock performance was -0.85% in last session and finished the day at $156.05. Traded volume was 4.29million shares in the last session and the average volume of the stock remained 4.28million shares. The beta of the stock remained 2.03. Baidu Inc (ADR) (NASDAQ:BIDU) insider ownership is 0.13%.

Renren Inc (NASDAQ:RENN)’s stock had its “underweight” rating reaffirmed by stock analysts at Morgan Stanley in a report issued on Wednesday, American Banking News.com reports. They currently have a $2.70 price target on the stock. The analysts wrote, “We retain our UW rating after RENN’s 4Q13 results. 4Q13 revenues were US$31mn, down 25% QoQ and 29% YoY. Renren Inc (NYSE:RENN) dropped -0.31 percent to $3.19 Tuesday on volume of 1.83million shares. The intra-day range of the stock was $3.17 to $3.28. Renren Inc (NYSE:RENN) has a market capitalization of $1.19billion.

JMP Securities lifts Yelp Inc (NYSE: YELP) from Market Perform to Market Outperform with a price target of $113. Yelp Inc (NYSE:YELP)’s stock on Mar 25, 2014 reported a decrease of -2.72% to the closing price of $78.96. Its fifty two weeks range is $22.48 -$101.75. The total market capitalization recorded $5.60billion. The overall volume in the last trading session was 5.72million shares. In its share capital, YELP has 68.80million outstanding shares.

Facebook Inc (NASDAQ:FB) is buying virtual reality company Oculus, betting $2 billion that its technology will become a new way for people to communicate, learn or be entertained. “This is a long-term bet on the future of computing,” said Facebook Inc (NASDAQ:FB) Chief Executive Mark Zuckerberg Tuesday on a call with analysts. “I believe Oculus can be one of the platforms of the future.” On Tuesday, shares of Facebook Inc (NASDAQ:FB) advanced 1.23% to close the day at $64.89. Company return on investment (ROI) is 9.70% and its monthly performance is recorded as -8.32%. Facebook Inc (NASDAQ:FB) quarterly revenue growth is 17.72%.

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