Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Chinese mobile services company KongZhong
So what: Apparently investors didn't see much in the way of fun and games from KongZhong's third-quarter numbers. Revenue for the quarter was higher than expected, but that was undercut by the fact that costs ate away at the higher sales and the company's $0.03 in per-share profit fell just short of analysts' estimates. The company's projection for fourth-quarter revenue also fell short of what Wall Street was hoping for.
Now what: Investors can still find reasons to invest in KongZhong. High on the list is that the company has very little debt and a huge $134 million cash pile. On the flip side, though, the company does play in a highly competitive space against the likes of SINA
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