New home sales hit the lowest level in three months

Netease Technology News July 25 news, the main US stock index mixed on Thursday. S & P 500 index closed another new high, but the other two major indexes ended lower. On the macro side, the jobless rate hit its lowest level since February 2006, but new home sales hit a three-month low.

At the close, the Dow Jones Industrial Average was 17,080.80 points, down 2.83 points, or 0.02%. The S & P 500 index was 1,987.98 points, up 0.97 points, or 0.05%. The Nasdaq Composite dropped to 4,472.11 points, down 1.59 points, or 0.04%.

Chinese stocks rose mostly on Thursday. Seven stocks rose more than 3%, of which two stocks rose more than 5%. Jumeirah (NYSE: JMEI) rose 6.57%, CTS Media (NASDAQ: VISN) rose 8.95%. Six stocks fell more than 3%, of which two stocks fell over 5%. NetEase (NYSE: NQ) dropped 5.19%, while New Oriental (NYSE: EDU) dropped 5.55%.

JG Capital analysts recently pointed out in the report that Cheetah Mobile (NYSE: CMCM) desktop business matures, the company gradually shifted its focus on the mobile space. Analysts at Renaissance Capital, another agency, said the company's annual revenue in the next three to four years can reach $ 1 billion. The stock closed at 20.32 U.S. dollars today, up 0.12 U.S. dollars, or 0.59%.

Citigroup recently raised its target price for Baidu (NASDAQ: BIDU) from $ 215 a share to $ 245 a share. The agency also raised Baidu's profit forecasts for 2014 and 2015 by 5% and 11% respectively. Under the new target price, the PEG-to-earnings ratio (PEG) is doubled. Earnings per share for 2015 is $ 7.71 and the annualized growth rate for the next three years is 32%. Baidu today closed at 204.27 U.S. dollars, up 4.15 U.S. dollars, or 2.07%.

Citigroup also lowered its target price for Qihoo (NYSE: QIHU) from $ 165 to $ 114.1. PEG 0.6 times, 2015 earnings per share of 4.32 US dollars, annualized growth rate of 44%. Citi analysts believe that although Qihoo's mobile gaming platform is less risky, the company is too young to have enough history to prove its operating experience. Qihoo today closed at 95.61 US dollars, up 0.60 US dollars, or 0.63%. (Abby)