Morning Buzz: Facebook (FB), China Finance Online (JRJC), InterCloud (ICLD), Kingtone Wirelessinfo (KONE), Barracuda Networks (CUDA)

Shares of social netorking giant Facebook, Inc. (FB) are up $1.15, or 1.34%, at $87.03, in early trading after The New York Times this morning reported that the Menlo Park, California-based company is in the early stages of seeking music video licensing deals with record labels.

The publication said FB has told the labels that it wants to begin adding the videos in coming months and monitor their performance through the end of the year.

China Finance Online Co., Ltd. (JRJC) is up 12% to $5.29 despite reporting a first quarter 2015 EPS net loss of $0.06 per ADS versus a loss of $0.09 in prior year. Gross profit was $10.3 million, compared with $17.8 million in the first quarter of 2014. The company said however, it expects an improved Q2/15 with a net revenue of around $22 million, an increase of 7% from $20.6 million for the corresponding period in 2014, and an increase of 61% from $13.7 million in the first quarter of 2015.

Shares of InterCloud Systems, Inc. (ICLD) are surging by nearly 10% to $2.55 at the start of trading on Friday morning, after the cloud networking-based solutions provider announced that it was recently awarded a series of contracts from new and existing clients valued at over $1.5 million to provide engineering, design and implementation of next generation wireless networks.

Mark Munro, CEO of InterCloud Systems stated: “InterCloud continues to win new business from our growing pipeline of sales opportunities. Contracts such as these are indicative of our continued growth and the confidence we enjoy from our customers. This opportunity is expected to be completed over the next several months.”

Shares of Kingtone Wirelessinfo Solution Holding Ltd. (KONE) are skyrocketing by 51.58% to $6.85 in early morning trading on Friday, following the release of the company’s financial results for the six months ended March 31, 2015. Kingtone said its basic and diluted income p/sh came in at $1.87 for the six months ended March 31, 2015 compared to basic and diluted loss per share of $0.49 for the same period a year earlier. Revenues increased 132.9% to $8.5 million from $3.6 million yoy. Net income came in at $2.6 million from a loss of $0.7 million for the six months ended March 31, 2014.

Mr. Peng Zhang, CEO of the Company, stated, “We are very pleased with our performance on business operation, which generated $2.6 million net income in the first six months ended March 31, 2015.” He concluded, ” Looking forward, we expect revenue of $12.0 million to $15.0 million, and net income of $0.5 million to $1.0 million for the fiscal year 2015. We are confident in accomplishing our goals at the end of fiscal year 2015.”

Barracuda Networks, Inc. (CUDA) is under heavy pressure this morning, down 17.13% in early trading despite the cloud-based security and storage services provider beat its 1Q/16 estimates by $0.01 with adjusted quarterly profit of $0.09 per share. Revs also came in above estimates ($78 million vs. 77.24 million consensus, a 17.8% yoy increase). However, gross billings, $94.3 million, were well below Street forecasts.

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