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By Leon Lazaroff - Tue May 15 21:48:27 GMT 2012

March 20 (Bloomberg) -- Conor Yang, chief financial officer at E-Commerce China Dangdang Inc., Chinas biggest Internet-based book retailer, talks about the company's business strategy and the industry. He speaks in Hong Kong with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)

May 15 (Bloomberg) -- Alicia Yap, head of China Internet research at Barclays in Hong Kong, talks about the outlook for Chinese Internet companies and investment strategy. She speaks with Susan Li on Bloomberg Television's "First Up." (Source: Bloomberg)

Chinese Internet stocks gained in New York, on prospects Facebook Inc. (FB)s increased offering price will spur demand for industry assets while Yanzhou Coal Mining Co. (YZC)s discount swelled as coal prices fell.

Renren Inc. (RENN), a social networking website, climbed the most in a month, and Internet bookstore E-Commerce China Dangdang Inc. (DANG) posted the steepest advance in three weeks. American depositary receipts of Yanzhou traded at the biggest discount to the shares in Hong Kong since December as coal prices fell for the first time in three years. The Bloomberg China-US Equity Index (CH55BN) of the most-traded Chinese shares in the U.S. extended its nine-day slump to 9.2 percent.

Chinas Internet stocks benefited from Facebooks decision to increase the price range on its IPO to as much as $38 a share from $35, implying a market value of as much as $104.2 billion. That would make Facebook worth more than Citigroup Inc. (C) and McDonalds Corp. Beijing-based Renren reported yesterday a first-quarter loss of 3 cents a share, below the median forecast for 4 cents a share by eight analysts surveyed by Bloomberg.

All the talk on the street about Facebook is driving retail investors in particular to look for stocks that might gain on social media in China, Echo He, a New York-based analyst who covers Chinese Internet stocks for Maxim Group LLC, said in a phone interview. Renrens second-quarter outlook is weak because advertising is weak, but investors are hoping it can do as well as Facebook.

The iShares FTSE China 25 Index Fund, the biggest Chinese exchange-traded fund in the U.S., was little changed at $34.72 while the Standard & Poors 500 Index slid 0.6 percent to 1,330.66.

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Dangdang Gains as Yanzhou Coal Discount Widens: China Overnight

By Corrie Driebusch and Drew FitzGerald

Among the companies with shares expected to actively trade in Mondays session are Chesapeake Energy Corp. (CHK), Avon Products Inc. (AVP) and Yahoo Inc. (YHOO).

Chesapeake Energy is expecting activist investor Carl Icahn to disclose soon that he has taken a significant stake in the embattled natural-gas company, The Wall Street Journal reported, citing people familiar with the matter. Shares of the energy company jumped 5.3% to $15.59 in recent premarket trading.

Avon Products said Sunday it will respond to Coty Inc.s latest offer within a week, more time than Cotys Monday deadline to decide whether to hold talks on a possible deal. Fragrance maker Coty on Wednesday offered to acquire the struggling door-to-door beauty seller for $10.7 billion, or $24.75 a share, sweetening an earlier offer by 6.5% and revealing that Warren Buffetts Berkshire Hathaway Inc. (BRKA, BRKB) was a backer of its bid. Shares of Avon Products traded up 5.2% to $21.24 premarket.

Yahoo ended the brief tenure of its latest chief executive after a flap over a flawed biography of him in a regulatory filing spiraled into a major embarrassment for the ailing Internet company and a big victory for an activist investor. Separately, The Wall Street Journal reported that Thompson had disclosed to the board of directors that he had been diagnosed with thyroid cancer. Shares rose 2.2% to $15.52 premarket as the Internet company also announced a deal to end a proxy fight with Third Point LLC, which is a large shareholder of the company.

InterOil Corp. (IOC) said it has received a letter from the Department of Petroleum and Energy in Papua New Guinea that the government intends to cancel a planned liquefied natural gas project agreement between Papua New Guinea and a joint venture led by InterOil. InterOil, in response to the letter, issued a statement Monday saying the move would trigger a six-month consultation. Shares still tumbled 11% to $51 premarket.

Francescas Holdings Corp. (FRAN) raised its fiscal first-quarter per-share earnings guidance by 3 cents, to 17 cents to 18 cents a share, based on higher-than-expected same-store sales. Separately, the company said it has fired Chief Financial Officer Gene Morphis after an investigation found that he improperly communicated company information through social media. Shares of the retailer climbed 4.3% to $25 premarket.

Petroleum Development Corp. (PETD) has agreed to pay roughly $331 million to acquire assets in Colorados Wattenberg oil and gas field from an undisclosed seller, boosting its holdings there by nearly 50%. Shares slipped 4.3% to $30.44 premarket.

American Capital Mortgage Investment Corp. (MTGE) said it plans to offer 10 million shares of its stock, as the real estate investment trust looks to plow more proceeds from public offerings into its investments. Shares were off 2.2% at $23.42 premarket.

American Airlines parent AMR Corp. (AAMRQ) opened the door to a possible merger or sale, saying Friday it reached an agreement with creditors to jointly develop potential consolidation scenarios.

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Stocks to Watch: Chesapeake, Avon, Yahoo and More

NEW YORK -- Three high-ranking executives are expected to leave JPMorgan Chase JPM this week, according to a report. The expected departures come in the wake of the bank's disclosure last week that it lost $2 billion because of trades that went awry. The Wall Street Journal reported that Ina Drew, the bank's chief investment officer; Achilles Macris, who headed the London desk that placed the trades; and trader Javier Martin-Artajo, a managing director on that desk, will leave the bank. There are also reports that Bruno Michel Iksil, known as the "London Whale" for big positions he took in credit markets, may leave JPMorgan, which is the biggest bank in the United States by assets. Shares of JPMorgan fell 29 cents, or 0.78%, to $36.67 in premarket trading Monday. Jamie Dimon's $2 Billion Hangover Yahoo! YHOO CEO Scott Thompson has stepped down and the company has reached a settlement with activist hedge fund manager Daniel Loeb's Third Point LLC. The Internet company said Sunday it appointed Ross Levinsohn, Yahoo!'s global head of media, to serve as interim CEO. A press release from Yahoo! didn't mention the reasons for Thompson's departure, but the changes come amid controversy over his biography. The CEO had said he had received a computer science degree from Stonehill College, but activist shareholder Loeb recently attacked that claim as incorrect. Reports Monday say before he resigned at CEO of Yahoo!, Thompson disclosed to the company's board that he has been diagnosed with thyroid cancer. The decision to step down was in part influenced by Thompson's cancer diagnosis, a person familiar with the matter told The Wall Street Journal. Yahoo! shares rose 1.38% in premarket trading Monday to $15.41. Is Apple's Golden Goose About to Be Cooked? Chesapeake CHK said Friday it received a $3 billion loan from Goldman Sachs and Jefferies Group, giving the company more time to sell assets and lower its debt. Earlier in the day, Chesapeake said it might have to delay some planned asset sales because of debt agreements it had. Over the weekend, reports said Chesapeake expects Carl Icahn to disclose he has taken a significant stake in the oil and gas company. Shares of Chesapeake jumped 7.43% in premarket trading Monday to $15.91. Groupon GRPN , the daily deal site, is expected to post quarterly results after markets close Monday, and analysts forecast a loss of 5 cents a share on revenue of $530 million. Green Mountain Margin Call Latest Sign Market Is Stuck in 1929 The board of Avon Products AVP is considering a buyout offer from Coty that it previously rejected after Coty lifted the terms of the deal, Avon said Sunday. Coty said last week that it would increase its bid for Avon to $24.75 a share, or almost $10.7 billion, from its previous offer of $23.25, or $10 billion. Shares of Avon rose 3.37% in premarket trading Monday to $20.87. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.

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Stocks to Watch: JPMorgan, Yahoo! (Update 1)

The term mixed might best describe the financial performance of e-commerce retailers and technology providers last week.

Of the 25 stocks in the Internet Retailer Online Retail Index only online jeweler and auctioneer Bidz.com Inc.s stock increased by double digits last week. It posted an 11.1% increase over the prior week. That is despite Bidz.coms release last week of first quarter earnings that were down year over year.

Its first quarter revenue of $16.8 million was 27.3% less than the $23.1 million in revenue in the first quarter of 2011. Bidz.com, No. 205 in the Internet Retailer Top 500 Guide, had a net loss of $1.5 million in the 2012 first quarter compared with a $382,000 loss for the same quarter a year ago.

Bidz.com is one of 10 e-commerce companies in the index whose stocks gained last week. Fourteen posted decreases and one, U.S. Auto Parts Network, was flat.

Overall, the Online Retail Index decreased 0.81% last week, a shallower decline than the broader market. The Dow Jones Industrial Average decreased 1.67% and the Standard & Poors 500 fell 1.15% last week.

Following are the best-performing stocks last week in the Online Retail Index and the percentage change in stock price for each:

Bidz.com, 11.1%

LivePerson, 6.2%

Netflix, 5.8%

Coastal Contacts, 5.1%

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E-commerce stocks best the broader market

By Leon Lazaroff - Tue May 15 16:52:56 GMT 2012

Chinese equities rose for the first time in nine days in New York, led by Internet stocks, on prospects Facebook Inc. (FB)s increased offering price will spur demand for industry assets.

The Bloomberg China-US Equity Index (CH55BN) of the most-traded Chinese shares in the U.S. added 0.7 percent to 96.10 by 12:48 p.m. in New York, halting a 9 percent slump in the eight days through May 14. Renren, a social networking website, surged the most in a month, while Internet bookstore E-Commerce Dangdang Inc. (DANG) climbed the most in three months.

Facebook increased the price range on its IPO to as much as $38 a share from $35, a regulatory filing yesterday showed, implying a market value of as much as $104.2 billion. That would make Facebook worth more than Citigroup Inc. (C) and McDonalds Corp. Beijing-based Renren reported yesterday a first-quarter loss of 3 cents a share, below the median forecast for a 4 cents a share by eight analysts surveyed by Bloomberg.

All the talk on the street about Facebook is driving retail investors in particular to look for stocks that might gain on social media in China, Echo He, a New York-based analyst who covers Chinese Internet stocks for Maxim Group LLC, said in a phone interview. Renrens second-quarter outlook is weak because advertising is weak, but investors are hoping it can do as well as Facebook.

The iShares FTSE China 25 Index Fund, the biggest Chinese exchange-traded fund in the U.S., gained 0.6 percent to $34.93 while the Standard & Poors 500 Index added 0.4 percent to 1,343.86. The Shanghai Composite Index fell 0.2 percent yesterday to 2,374.84 while the Hang Seng China Enterprises Index of Chinese companies traded in Hong Kong also broke a string of eight consecutive declines, gaining 1 percent to 10,084.59.

Germanys economy expanded more than forecast in the first quarter, offsetting contractions elsewhere in Europe and helping the region, Chinas largest trading partner, avoid a second recession in three years.

U.S. auto sales running at the fastest pace in four years helped boost manufacturing in the New York region in May more than forecast while strengthening the outlook for a U.S. economic recovery.

Investors do remain very nervous but a better outlook for the U.S. economy is certainly helping to calm matters, Charlie Awdry, portfolio manager of Henderson Global Investors 500 million pound ($801 million) China Opportunities Fund, said in a phone interview from London. We still think Chinese earnings are going to grow, though at a slow pace.

To contact the reporter on this story: Leon Lazaroff in New York at llazaroff@bloomberg.net

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Renren Leads ADRs Rebound on Facebook IPO Price: China Overnight