**November 15 News**: After Italy's sovereign debt auction, the country's borrowing costs rose. The market is concerned about whether European leaders have the ability to control the debt crisis. On Monday, the three major US stock indexes fell slightly.
At 5:00 AM Beijing Time on November 15, 2011 (4:00 PM Eastern Time on November 14), the Dow Jones Industrial Average fell 74.62 points, or 0.61%, closing at 12,079.06; the Nasdaq Composite Index fell 21.53 points, or 0.80%, closing at 2,657.22; and the S&P 500 Index fell 12.04 points, or 0.95%, closing at 1,251.81.
**Chinese Concept Stocks Mostly Declined, with 15 Stocks Falling More Than 3%**: Ctrip.com fell 12.26%, Skymobi fell 11.54%, Shanda Games fell 7.82%, eLong rose 15.76%, Guoren Communication rose 11.33%, and Qihoo 360 rose 8.83%.
**Details of Stocks Falling More Than 3%**:
- AsiaInfo-Linkage fell 3.10%, closing at $8.45.
- New Oriental fell 3.10%, closing at $26.26.
- Hanting Hotels fell 3.12%, closing at $14.58.
- The9 Limited fell 3.16%, closing at $4.59.
- SouFun Holdings fell 3.18%, closing at $12.50.
- UTStarcom fell 3.33%, closing at $1.45.
- Renren Inc. fell 3.63%, closing at $4.78.
**Details of Stocks Falling More Than 4%**:
- Jiayuan.com fell 4.32%, closing at $9.74.
- 51job fell 4.47%, closing at $41.85.
- Home Inn fell 5.67%, closing at $33.29.
- Xing Resources fell 6.89%, closing at $0.74.
- Shanda Games fell 7.82%, closing at $4.60.
- Skymobi fell 11.54%, closing at $4.37.
- Ctrip.com fell 12.26%, closing at $30.07.
- United Online fell 16.14%, closing at $0.20.
**Ctrip.com Announces Unaudited Financial Results for the Third Quarter Ended September 30, 2011**: Net revenue was RMB 975 million ($153 million), up 20% year-over-year; operating profit was RMB 304 million ($48 million), down 1% year-over-year.
Investment institutions such as Goldman Sachs, Mirae Asset, and Piper Jaffray issued reports, downgrading Ctrip.com's stock rating. Ctrip.com opened low at $29.86, falling $4.20 during the day, a decline of 12.26%, closing at $30.07. It hit a 52-week low of $28.30 intra-day. Trading volume surged to 18.01 million shares, far exceeding the average daily trading volume of 2.88 million shares.
**Skymobi Announces Financial Results for the Second Quarter of Fiscal Year 2012**: Revenue was RMB 173 million; net profit was RMB 19.8 million, up 69.4% year-over-year. Skymobi opened at $4.81, falling $0.57 during the day, a decline of 11.54%, closing at $4.37. Trading volume was 298,700 shares, with an average daily trading volume of 392,200 shares.
**Shanda Games' Stock Price**: Opened at $4.82, falling $0.39 during the day, a decline of 7.82%, closing at $4.60. Trading volume was 413,800 shares, with an average daily trading volume of 634,300 shares.
**eLong's Stock Price**: Opened at $12.80, rising $1.97 during the day, a gain of 15.76%, closing at $14.47. Trading volume was 37,600 shares, with an average daily trading volume of 9,501 shares.
**Guoren Communication**: Chairman and CEO Gao Yingjie proposed to acquire all issued Guoren Communication shares at $3.10 per American Depositary Share in cash. Guoren Communication opened high at $2.83, rising $0.29 during the day, a gain of 11.33%, closing at $2.85. Trading volume was 275,800 shares, far exceeding the average daily trading volume of 33,200 shares.
**Qihoo 360**: U.S.-based independent securities research firm T.H.Capital LLC maintained its "Buy" rating on Qihoo 360 stock with a target price of $34. Qihoo 360 opened at $17.76, rising $1.58 during the day, a gain of 8.83%, closing at $19.47. Trading volume was 1.03 million shares, with an average daily trading volume of 914,700 shares.
**U.S. Tech Stocks Mostly Declined**: Pandora Media fell 7.64%; AOL fell 3.04%.
Pandora Media's stock fell for the third consecutive trading day, with a cumulative decline of 17.48%. Pandora Media opened at $13.80, falling $1.05 during the day, a decline of 7.64%, closing at $12.70. Trading volume was 885,000 shares, with an average daily trading volume of 497,900 shares.
Logitech CEO Guerrino De Luca stated that the company’s operations in Eastern Europe and losses from producing Google TV set-top boxes (Revue) amounted to at least $100 million. Logitech will no longer produce or update Google TV set-top boxes. Logitech opened at $8.34, falling $0.23 during the day, a decline of 2.72%, closing at $8.22.
Deutsche Bank released an investment report maintaining its "Buy" rating on Disney stock but lowered the target price from $50 per share to $48. Disney opened at $36.33, falling $0.58 during the day, a decline of 1.58%, closing at $36.12.
SAP Co-CEO Jim Snabe said SAP is still looking for large-scale acquisition opportunities. SAP opened at $60.02, falling $0.96 during the day, a decline of 1.58%, closing at $59.72.
**Appendix: Chinese Concept Stocks (US Stocks) Price Changes**:
- Nasdaq: 2,657.22 (-0.80%)
- Sohu: $57.90 (-2.05%)
- Changyou: $26.06 (-0.61%)
- Netease: $44.32 (-0.61%)
- Sina: $78.89 (-0.34%)
- Baidu: $138.88 (+0.81%)
- Mecox Lane: $1.54 (-0.65%)
- Dangdang: $5.51 (-0.18%)
- Youku: $19.79 (+3.07%)
- Tudou: $14.04 (+0.65%)
- Ku6 Media: $1.68 (-2.89%)
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