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Chinese Internet stocks bump up on Thursday, thanks to strong earnings reports from the messaging and gaming major player Tencent Holdings Adr (TCEHY.PK) and Sina. Sohu.com, Inc. (NASDAQ:SOHU) was another sector stock that exemplified the rally. Tencent had been favored in a Wall Street Journal write-up prior to earnings, and jumped by 6.4 percent in Hong Kong trading following its revenue post of $1.65 billion, which rose 56 percent year-over-year, plus a net income of $487 million.
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Verizon Wireless’ (NYSE:VZ) spectrum-purchase transactions with Comcast Corporation (NASDAQ:CMCSA), Time Warner Cable Inc. (NYSE:TWC), along with other cable providers has been okayed by the Justice Department, with the proviso that Verizon and the cable suppliers desist from re-selling each other services in FiOS areas, plus other stipulations to preserve competition. In addition, the Federal Communications Commission now favors the approval.
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