Why Qunar Cayman Islands Limited (QUNR) and Ctrip.com International (CTRP) Stocks Are Up Today

NEW YORK (TheStreet) -- Qunar Cayman Islands Limited (QUNR) rose Tuesday after Bloomberg reported that it is in merger talks with another Chinese travel site, Ctrip.com International  (CTRP). 

Bloomberg reports the two entities are discussing multiple options, including a full-blown merger and a partnership. The talks are in the early stages and may not lead to a final deal, according to Bloomberg's two anonymous sources. The ownership structure and financing methods have also not been determined yet.

Baidu  (BIDU) controls Qunar and owns China's most popular search engine. The company has been investing in and purchasing various services to strengthen its search service and help it contend with Alibaba Group Holding and Tencent Holdings  (TCEHY) for China's 618 million Internet users. Shanghai-based firm IResearch believes China's online travel market could reach $75 billion by 2017, as the growing Chinese middle class spends more money on leisure and entertainment.

Qunar rose 9.41% to $29.43 at 12:12 p.m., while Ctrip.com rose 7.56% to $54.05.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

QUNR Chart

QUNR data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

If you liked this article you might like

Deals of the Week: Pushback on Tesla Bid for SolarCity

Qunar Cayman Islands (QUNR) Is Today's Strong On High Volume Stock

Today's Weak On High Volume Stock: Qunar Cayman Islands (QUNR)

5 Stocks Set to Soar on Bullish Earnings

Today's Weak On High Volume Stock: Qunar Cayman Islands (QUNR)