Sina Under Review After Worse-Than-Expected Non-Weibo Operating Margin
We are placing our fair value estimate for narrow-moat-rated Sina under review after worse-than-expected operating margin for the company's non-Weibo business in the first quarter. We will evaluate if our current negative single-digit margin forecast for this segment is still sustainable in the long term. The non-Weibo business’s operating margin (including eliminations) was negative 40% compared with negative 13.3% in the fourth quarter. We continue to forecast investments in user growth in exi...Sina is an online media company serving China and the global Chinese communities. Co.'s digital media network includes SINA.com (It offers professional content on each of its region specific websites), SINA.com (It provides information and entertainment content from SINA portal customized for WAP users) and Weibo (It is a form of social media, featuring microblogging services and social networking services that allow users to connect and share information). Co. offers an array of services including mobile value added services, online video, music streaming, online games, photo sharing, blog, email, classified listings, fee-based services, e-commerce and enterprise services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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