Emerging markets underperformed last week as investors cheered continuing corporate profits in the U.S., but global risks threaten weakness in higher risk assets.
Youku Inc. (YOKU, quote) and Tudou Holdings Limited (TUDO, quote) announced today that they have signed a definitive agreement for Tudou to combine with Youku in a 100% stock-for-stock transaction. The combined entity will be named Youku Tudou Inc., and will continue to be listed on the NYSE under the symbol “YOKU”.
The S&P500 traded mostly sideways last week but managed to eke out a 0.2% gain and maintain its upward trajectory. Emerging markets were mostly down until a Friday rally brought the MSCI Emerging Market Index to a gain of 0.4% on the week.
Chinese internet television company Youku (YOKU, quote) has signed a deal to license 250 movies from Twentieth Century Fox Home Entertainment. Subscribers to the Youku Premium play-on-demand service are now munching popcorn in front of popular franchises like the “X-Men” movies, the “Aliens” series, and — of course — the Glee concert movie.