For the second quarter of 2009, management expects to continue the year-on-year net revenue growth of approximately 10%-15%. Shares of CTRP are off 52-week highs of $65 per share. The stock has technical support in the $24-$30 price area. If the shares can build off of today's bounce, we see near-term overhead resistance around the $40-$46 price levels. We do not currently rate this non-dividend paying stock, but do follow this China Internet play closely. Ctrip.com does not currently pay a dividend.
Alpha Natural Resources to Buy Foundation Coal in All-Stock Deal
Foundation Coal Holdings ( FCL) said Tuesday that it is being acquired by fellow coal producer Alpha Natural Resources ( ANR) in all all-stock deal. The all-stock buyout is valued at approximately $2 billion, the companies said in a joint statement. The terms of the deal include Alpha Natural assuming about $530 million in debt. The combined company would become the third largest coal producers in the world, with revenue of $4.2 billion last year, along with ownership of a total of coal 59 mines, 14 preparation plants, and combined reserves of more than 2.3 billion tons of coal. Terms of the deal state that Foundation Coal shareholders will receive 1.084 shares of the new company for each share held, representing around $32.73 per share, which is a 41% premium over Foundation's Monday closing price. Foundation Coal shares rose $5.40, or +23%, in morning trading Tuesday. This was good news for our coal stocks that we added to our "Recommended" list last week. We will keep track of further developments within the space, and keep subscribers posted. Foundation Coal Holdings is not recommended at this time, holding a Dividend.com DARS Rating of 3.3 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks as well as a detailed explanation of our ratings system.