Thursday's Asia ADR Recap: AirMedia

Susquehanna raised its price target for Chinese private educational services company New Oriental Education & Technology (EDU Quote - Cramer on EDU - Stock Picks) to $85 from $77 and reiterated its positive rating on the shares, citing new revenue streams from the company's all-subject training. Shares of EDU rose 1.8% to $75.04.

Chinese digital media network operator AirMedia Group (AMCN Quote - Cramer on AMCN - Stock Picks) fell 6.6% after the company issued disappointing second-quarter revenue guidance. AirMedia announced its first-quarter net profit soared 289% year-over-year to $8.5 million and first-quarter revenues jumped 162% to $21.6 million, vs. $8.2 million from the previous year, due to strong results across all business segments. Revenues from digital frames in airports for the first-quarter surged 431% year-over-year to $6.7 million. The company forecasted total revenues for the second-quarter to come in between the range of $26 million to $28 million, vs. Wall Street estimates of $26.4 million. Shares of AMCN lost $1.35 to $18.90 on seven times average daily volume.

The Chinese telecom sector was in play Thursday after German rival Deutsche Telekom (DT Quote - Cramer on DT - Stock Picks) reported a 33% rise in first-quarter profits. China Unicom (CHU Quote - Cramer on CHU - Stock Picks) traded up 6.8% to $21.79; China Telecom (CHA Quote - Cramer on CHA - Stock Picks) added 5.5% to $71.47; China Netcom Group (CN Quote - Cramer on CN - Stock Picks) rose 3.3% to $65.28; and China Mobile (CHL Quote - Cramer on CHL - Stock Picks) finished up 2% to $84.87.

Be sure to check out the Far East Portfolio at Stockpickr.com every night to find out which stocks in India and China are making big moves and announcing major news.

For more on Asia, check out Daniel Harrison's coverage at TheStreet.com.

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