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From: zax2/3/2012 1:07:53 AM
   of 65
 

Yandex Boosted by Facebook as Cheapness Lures: Russia Overnight
By Leon Lazaroff and Halia Pavliva - Feb 2, 2012 6:06 PM CT

bloomberg.com

Yandex NV (YNDX) climbed to a two-month high in New York as enthusiasm for Internet stocks spurred by Facebook Inc.’s initial public offering lured investors to the cheapest Russian web company.

The operator of Russia’s most popular Internet search engine, Yandex led gainers on the Bloomberg Russia-US 14 Indexof Russian companies traded in New York, which was little changed at 105.82 yesterday as seven stocks rose and six declined. Futures (VEA) expiring in March on Moscow’s dollar-denominated RTS index (RTSI$) were also steady at 159,930 in U.S. trading. Urals crude oil hit an 11-week high.

Emerging-market Internet stocks from Chinese online game developer Perfect World Co. (PWRD) to South Korea’s largest search engine NHN Corp. (035420) have rallied since Facebook filed for what will be the largest IPO for an Internet company. Yandex, which has slumped 45 percent since its May IPO, trades at 38 times analysts’ earnings estimates, compared with 43 times for competitor Mail.ru Group Ltd., the largest Russian-language web company.

“Investors have taken a refreshed look at Russia’s Internet stocks on the back of Facebook’s IPO and Yandex has come out as the winner today,” said Marco Casas, vice president for equity sales at Otkritie Financial Corp. in New York. “We expect momentum to continue in the next few days as investor interest in Russian Internet names, such as Yandex, increases.”

Yandex advanced 3.6 percent to $21.39 in New York yesterday, the highest level since Dec. 7. Mail.ru (MAIL), which has a 2.3 percent stake in Facebook, fell 0.6 percent to $33.60 in London, after rising for the previous six days.

‘Yandex Undervalued’ Internet advertising in Russia will increase 25 percent this year from 2011, while the overall ad market will probably expand 10 percent, HSBC Holding Plc analyst Jean Kaplan wrote in a Jan. 13 report. The Internet’s share of total Russian advertising will jump to 26 percent by 2018, from 14 percent last year, as more Russians buy computers and access the Web, Kaplan said.

“Everybody has been buying Russian Internet stocks on the Facebook IPO news,” said Konstantin Chernyshev, head of research at UralSib Financial Corp in Moscow. “According to our estimates, Yandex is undervalued by 26 percent. Yandex is cheaper than Mail.ru, so if you buy Russian Internet, you buy Yandex.”

The Hague, Netherlands-based Yandex’s share of the Russian search market declined to 59.7 percent in the week through Jan. 22, from 59.9 percent the previous week and below the four-week average of 59.8 percent, according to Liveinternet.ru, an Internet-service provider and researcher. Moscow-based Mail.ru’s audience rose to 8.5 percent in the week to Jan. 22, from 8.1 percent the week before and above the four-week average of 8.2 percent, the data showed.

Search Share Yandex, which reports fourth-quarter earnings on Feb. 22, introduced a free search application for the Apple Inc. iPhone in December, part of an effort to expand its mobile offerings.

Yandex’s search share fell to 59.4 percent in the week through Jan. 29, while Mail.ru’s rose to 9 percent, Liveinternet data showed. Mountain View, California-based Google (GOOG) Inc.’s share of the Russian search market fell to 25.5 percent from 25.7 percent the previous week. Google trades at 14 times analysts’earnings estimates.

“Yandex has been a laggard among Russian equities, so this is a chance to play catch-up.” Tom Furda, director of Russian equity sales at Auerbach Grayson & Co.’s Moscow-based brokerage partner UralSib Financial Corp., said by phone yesterday.

Falling Volatility The RTS Volatility Index (RTSVX), which measures expected swings in the index futures, was little changed at 30.95, the lowest level since Aug. 4. The Market Vectors Russia ETF (RSX), a U.S.-traded fund that holds Russian shares, fell for the first time in three days, losing 0.5 percent to $30.99.

Russia’s central bank meets to review key interest rates in Moscow today, after cutting the refinancing rate by 25 basis points, or 0.25 percentage point, to 8 percent in December. OAO Rosneft, Russia’s largest oil producer, will report fourth-quarter results.

American depositary receipts of OAO Gazprom (OGZPY), the world’s biggest natural gas exporter, climbed to the highest level since Nov. 8 in New York, adding 1 percent to $12.40 after its sharestraded in Moscow rose 0.8 percent to 187.24 rubles, or the equivalent of $6.18. One ADR represents two ordinary shares.

Gazprom trades at 3.6 times analysts’ estimated earnings, while smaller Russian oil and gas producer OAO Surgutneftegas (SGTPY)trades at 5.8 times. Royal Dutch Shell Plc (RDSA), Europe’s largest energy company, has a ratio of 7.2, and Exxon Mobil Corp. (XOM), the world’s largest energy company by market value, has 10.2.

Gazprom ‘Unloved’ “Gazprom is unloved, it’s straightforwardly cheap and there’s every chance that you’ll see improvements in corporate governance over the next six to 12 months,” Martin Diggle, director of the $70 million Vulpes Russian Opportunities Fund (ARTRUSS), said by phone from Geneva yesterday. The Vulpes Fund lost 13 percent in 2011, ranking in the 69th percentile, according to data compiled by Bloomberg.

Moscow-based Gazprom said in December that it may double its dividend payout for 2011 to a record and cut planned investments for this year by 39 percent.

ADRs of Gazprom Neft, Gazprom’s oil producing arm, gained 1.1 percent to $24.90 as Brent oil for March settlement rose 0.5 percent to $112.07 a barrel on the London-based ICE Futures Europe exchange.

Urals, Russia’s chief export blend, added 0.6 percent to $112.30, the highest level since Nov. 15.

OAO RusHydro (RSHYY), Russia’s largest hydropower producer, fell in U.S. trading on concern colder weather in Russia will reduce electricity production, and as Deutsche Bank AG cut its target price for the company’s stock. RusHydro’s ADRs dropped 1.5 percent to $3.91, paring their advance to 29 percent this year.

The RTS Index (RTSI$) in Moscow rose 0.2 percent to 1,602.99, and the 30-stock Micex Index gained 0.2 percent to 1,542.39.

To contact the reporters on this story: Leon Lazaroff in New York at llazaroff@bloomberg.net, or Halia Pavliva in New York at hpavliva@bloomberg.net

To contact the editor responsible for this story: Emma O’Brien at Eobrien6@bloomberg.net

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From: zax2/20/2012 1:44:22 PM
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Yandex Unveils Social Networking Search

finance.yahoo.com

MOSCOW, Feb. 20, 2012 (GLOBE NEWSWIRE) -- Yandex (Nasdaq: YNDX - News) today announced its social networking search program, aimed at enhancing its search engine's quality by adding content from social networking websites. Today, Yandex rolled out a beta version of its people finder. Yandex web users in Russia can now view all public profiles of a person with accounts on the country's most popular social networking and blogging websites, such as VKontakte, Facebook, LiveJournal, and Odnoklassniki.

Yandex processes over two million people searches daily. About one half of these search queries are to find information about celebrities, while the other half ask about someone's friend, a contact, an employee or a partner. In response to these queries, Yandex delivers links to personal profiles on social networking websites available for public access -- only those pages that can be indexed by a search engine. Currently, Yandex's index has about 250 million personal profile pages hosted on various blogging platforms and social networking websites.

If more than one personal profile matches the user's search query, Yandex adds one of the profiles to the top of its search results page and shows all others on a separate page. This page also features search options such as age, location, or workplace to quickly refine search results. If multiple profiles exist for the same person, they are grouped together in the search results.

"It is so much more convenient to see multiple profiles of the same person grouped together," says Alexander Chubinskiy, Project Manager at Yandex. "Yandex does this grouping with care -- only those profiles that refer to one another get grouped. Web users can choose if they want their profiles on different websites to appear in search results separately, or as grouped together. So, if one of your personal profiles refers to others, the icons of those websites on which they are hosted will appear on the same thumbnail. Conversely, the user can remove cross-reference from their personal pages so that each of the profiles appears in Yandex's search results independently."

In addition to finding old friends and contacts, Yandex's people search offers web users an opportunity to see their online profiles the way other people see them, and either edit them or change their privacy settings on the website that hosts the profile.

Read more about Yandex's social networking search engine on the company blog (in Russian).

About Yandex

Yandex (Nasdaq: YNDX - News) is the leading internet company in Russia, operating the country's most popular search engine and most visited website. Yandex also operates in Ukraine, Kazakhstan, Belarus and Turkey. Yandex's mission is to answer any question internet users may have.

The Yandex Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10933


Contact:
Investor Relations  
Dmitry Barsukov, Katya Zhukova
Phone: +7 495 739-70-00
E-mail: askIR@yandex-team.ru
US Investor Contact
The Blueshirt Group, for Yandex
Alex Wellins
Phone: +1 415 217-58-61
E-mail: alex@blueshirtgroup.com
Media Relations
Ochir Mandzhikov, Dina Litvinova
Phone: +7 495 739-70-00
E-mail: pr@yandex-team.ru

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From: zax2/21/2012 9:00:53 AM
   of 65
 
Twitter partners with Yandex for real-time search

By Georgina Prodhan
LONDON | Tue Feb 21, 2012 2:00am EST

reuters.com

LONDON Feb 21 (Reuters) - Twitter and Russian search engine Yandex have agreed a partnership that will allow Yandex to show new tweets in its search results almost instantly, as Twitter becomes an increasingly important source of real-time information.

Twitter will give Yandex access to its so-called firehose of all public tweets, the two companies said on Tuesday, in an agreement similar to the one the social short-messaging site has with Microsoft's search engine, Bing.

"We wanted to make sure that Twitter content can be where Twitter users are already going," Twitter's director of business development, April Underwood, told Reuters by phone. "Discovery through search is so important."

Anton Pavlov, Yandex's blog search manager, said in a statement: "People share news, exchange opinions and discuss all sorts of matters in real-time all the time. This kind of information will help us enhance our search results."

Yandex has about 60 percent market share in Russia, ahead of Google with about a quarter of the market, although global leader Google has recently begun to erode its lead.

Google no longer partners with Twitter, favoring its own fledgling Google+ social network for social search results.

Asked about a possible renewal of a partnership with Google, Twitter's Underwood said: "Anything's possible, but there's not really an update to provide there at this time."

Twitter has more than 100 million active users and 400 million visitors per month. Its valuation tops $8 billion, even though it has not yet established a money-making model.

Google+, which is more akin to Facebook than Twitter, has 90 million users.

Twitter and Yandex declined to give financial details of their agreement. Microsoft has been reported to have paid $30 million for its deal with Twitter.

Yandex reaches about 2.8 percent of global Internet users, according to Web metrics firm Alexa, while Bing reaches about 3.4 percent.

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From: zax2/22/2012 10:16:41 AM
   of 65
 

Yandex Fourth-Quarter Net Climbs 50% to 2.2 Billion Rubles

By Yuliya Fedorinova - Feb 22, 2012 5:01 AM CT
Yandex NV (YNDX), Russia’s most popular search engine, said profit in the fourth quarter rose 50 percent as rising Internet use boosted ad sales.

Adjusted net income reached 2.2 billion rubles ($74 million) from 1.47 billion rubles in the same period a year earlier, the company said in a statement distributed to reporters in Moscow today. Revenue climbed 56 percent to 6.44 billion rubles.

Yandex expects sales this year to increase 40 percent to 45 percent from the 20 billion rubles reached in 2011, which was a 60 percent gain.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

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From: zax2/22/2012 10:19:28 AM
   of 65
 
Yandex Announces Fourth Quarter and Full-Year 2011 Financial Results

MOSCOW and THE HAGUE, Netherlands, Feb. 22, 2012 (GLOBE NEWSWIRE) -- Yandex (Nasdaq: YNDX - News), the leading internet company in Russia operating the country's most popular search engine and most visited website, today announced its financial results for the fourth quarter and the full year ended December 31, 2011.

bloomberg.com

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From: zax3/12/2012 8:09:04 PM
   of 65
 
Yandex Search Share Drops to 2010 Low as Google’s Portion Rises
By Halia Pavliva - Mar 12, 2012 11:57 AM CT

bloomberg.com

Yandex NV (YNDX), Russia’s most popular Internet search engine, saw its weekly search-market share drop to the lowest since at least August 2010, while Google Inc.’s portion increased, data compiled by Liveinternet.ru show.

Yandex’s share of the Russian search market declined to 59.1 percent in the week through March 11, the lowest in data going back to August 2010 of Liveinternet, an Internet-service provider and researcher. Yandex’s share was 59.3 percent the previous week and averaged 59.3 percent over the past four weeks, the data showed.

Google’s (GOOG) share of Russian searches rose to 26 percent from 25.7 percent, compared with a four-week average of 25.6 percent, according to the Liveinternet data.

The share of Mail.ru Group Ltd. (MAIL), the largest Russian-language Internet company, was unchanged at 9.4 percent from the previous week and from a four-week average of 9.4 percent, the data showed.

Yandex’s U.S.-traded shares fell 1.6 percent to $23.10 by 12:56 p.m. in New York, set for the lowest close since March 1. Yandex has gained 17 percent this year after losing 49 percent from its May initial public offering in 2011, data compiled by Bloomberg show.

Global depositary receipts of Mail.ru fell 1 percent to $39 in London, paring this year’s advance to 50 percent. Yandex is trading at 28 times analysts’ earnings estimates, compared with 46 times for Mail.ru (MAIL), according to data compiled by Bloomberg.

To contact the reporter on this story: Halia Pavliva in New York at hpavliva@bloomberg.net

To contact the editor responsible for this story: Emma O’Brien at Eobrien6@bloomberg.net

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From: zax3/12/2012 11:01:23 PM
   of 65
 
Yandex Opens Offices in Europe

finance.yahoo.com

MOSCOW, March 12, 2012 (GLOBE NEWSWIRE) -- Yandex (Nasdaq: YNDX - News), the Russian search giant, opens a sales office in Lucerne, Switzerland. The new office, headed by Bernard Lukey, formerly CEO of one of Russia's largest online stores, OZON.ru, will serve the company's fast-growing client base in Europe.

Yandex runs search sites along with a whole range of online services in Russia, Ukraine, Belarus, Kazakhstan and Turkey. In Russia, Yandex has about 60% share of the country's search market (according to Liveintenet.ru). The company's new sales office in Lucerne was opened to work more efficiently with its advertising clients in Europe by presenting Yandex and its products to customers and training them on how to maximize their advertising opportunities on Yandex.

"International sales have been growing fast over the past few years. We are launching our Lucerne sales office to build a closer relationship with advertising agencies and our clients in Europe," said Alexei Tretiakov, Chief Commercial Officer at Yandex. "We are also keen to intensify our marketing-for-sales activities in Europe to attract new clients. We do believe that by launching this office we'll boost our European sales."

Yandex offers a wide range of contextual and display advertising opportunities to clients interested in online-marketing in Russia, Ukraine, Belarus and Kazakhstan on its own web-sites, as well as on web sites across Yandex Advertising Network. Advertisers can manage their contextual campaigns via Yandex.Direct, Yandex's proprietary auction-based ad-serving system, available both in Russian and in English. The total daily audience of the ads served via Yandex.Direct exceeds 21 million (according to comScore, as of January 2012).

The Lucerne office is Yandex's second office in Switzerland. Earlier this year, the company opened a development office in Zurich after hiring a group of highly skilled engineers.

About Yandex

Yandex (Nasdaq: YNDX - News) is the leading internet company in Russia, operating the country's most popular search engine and most visited website. Yandex also operates in Ukraine, Kazakhstan, Belarus and Turkey. Yandex's mission is to answer any question internet users may have.

Yandex.Direct is the first and largest automated, auction-based ad-serving system for contextual advertising on the Russian internet. Ads are displayed for millions of users on search results pages and on the pages of the Yandex Advertising Network.

The Yandex Advertising Network (YAN) includes all third-party websites running ads served through Yandex.Direct. The YAN has thousands of websites showing hundreds of millions ads to viewers every day.

The Yandex Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10933

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve risks and uncertainties. These include statements regarding the development of our international sales efforts and our further expansion plans. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among others, competitive pressures, changes in advertising patterns, changes in the legal and regulatory environment, technological developments, and our need to expend capital to accommodate the growth of the business, as well as those risks and uncertainties included under the captions "Risk Factors" and "Operating and Financial Review and Prospects" in our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 2, 2012, which is available on our investor relations website at http://company.yandex.com/investor_relations/sec_filing.xml and on the SEC website at www.sec.gov.


Contact:
Investor Relations    
Dmitry Barsukov, Katya Zhukova
Phone: +7 495 739-70-00
E-mail: askIR@yandex-team.ru
US Investor Contact
The Blueshirt Group, for Yandex
Alex Wellins
Phone: +1 415 217-58-61
E-mail: alex@blueshirtgroup.com
Media Relations
Ochir Mandzhikov, Dina Litvinova
Phone: +7 495 739-70-00
E-mail: pr@yandex-team.ru

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From: zax3/13/2012 9:35:14 AM
   of 65
 
Yandex Launches Navigator Mobile App

finance.yahoo.com

MOSCOW, March 13, 2012 (GLOBE NEWSWIRE) -- Yandex (Nasdaq: YNDX - News) announces the launch of Navigator, a free mobile application for drivers. This navigation app has everything a driver needs: regularly updated maps, a route planner using real-time traffic information, and a route guidance system. The application provides reliable assistance for users driving in Russia and Ukraine.

Using Navigator, drivers can reduce the travel time to their destination by taking the best route available at the time of their journey. The app calculates an optimal driving route taking into account traffic jams. Navigator obtains current traffic information from the Yandex.Traffic service used by millions of drivers. If the traffic situation changes during the trip or the driver misses the correct turning, Navigator instantly rebuilds the route. In addition, voice prompts allow drivers to keep their eyes on the road when driving in an unknown area.

The Navigator app is based on the mapping service Yandex.Maps which continually updates its content providing drivers with up-to-date maps and road grids. Currently, Navigator has detailed maps of over 500 cities in Russia and Ukraine. Drivers can plan their trips as within one single city, so across the whole country. Street navigation is available for most Russian and Ukrainian cities with a population of over 200,000 and also for smaller cities in Ukraine.

"Yandex.Navigator is especially helpful for people driving somewhere where they haven't been before or for those with little driving experience. While our Yandex.Maps for Mobile app is indispensable for checking the current traffic situation when driving in a familiar area, the Navigator app is convenient for finding a faster way to a new destination. Although Yandex.Maps for Mobile and Yandex.Navigator are separate, standalone apps right now, we expect them to become more integrated with each other in the future," says Tigran Khudaverdyan, head of Mobile at Yandex.

The new application is available for smartphones and tablet devices supporting two popular platforms, iOS and Android, and can be downloaded from the App Store or Google Play (former Android Market). To learn more about the app and see how it works, please watch this demo.

About Yandex

Yandex (Nasdaq: YNDX - News) is the leading internet company in Russia, operating the country's most popular search engine and most visited website. Yandex also operates in Ukraine, Kazakhstan, Belarus and Turkey. Yandex's mission is to answer any question internet users may have.

The Yandex Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10933

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From: zax3/13/2012 11:37:43 PM
   of 65
 

Russian Search Engine Yandex Is Undervalued

seekingalpha.com

March 13, 2012 by: Emerging Money | about: YNDX, includes: RSX





Russian internet technology firm Yandex ( YNDX) is set to announce earnings next week. Analysts are expecting the search engine giant to report EPS of 15 cents on $190 million in revenues.

Yandex dominates the internet search space in Russia with 64% market share. The company maintains a presence in other CIS nations like Belarus and Kazakhstan, and is attempting to enter the fast-growing Turkish market.

Russia ( RSX) is already trading at incredibly cheap valuations. Stocks on Moscow’s exchange are trading at only 4 times enterprise value divided by EBITDA, and 5 times when evaluating non-petroleum components. Compared to its emerging market peers trading at 6.5 times EV/EBITDA, Russia is about 40% cheaper.

Troika Dialog analyst Anna Lepetukhina feels that Yandex specifically is too cheap, claiming that the company “has excellent prospects and a fast sales-growth rate...(Yandex), right now it is undervalued.”



That certainly appears to be true when you compare Yandex to its domestic and foreign peers. Russian e-mail provider Mail.ru trades at 48 times trailing earnings, compared to Yandex at 38.7 times. Analogous Chinese firm Baidu ( BIDU) trades at 45.8 times trailing earnings.

Yandex is down roughly 17% from its initial public offering in May. Given its strong fundamentals and relatively cheap price, investors looking to gain exposure to Russia’s middle class might want give it careful consideration.

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From: zax3/19/2012 10:31:59 AM
   of 65
 
Yandex Implements Real-Time Bidding Technology

finance.yahoo.com

MOSCOW, March 19, 2012 (GLOBE NEWSWIRE) -- Yandex (Nasdaq: YNDX - News) today announced that it has released a new advertising model, Real-Time Bidding (RTB), for testing by the public. The RTB technology gives advertisers an opportunity to enjoy all the benefits of the bid-based model now implemented by Yandex in display advertising.

Real-Time Bidding is an auction-based system for selling and buying ad impressions. Instead of advertisers directly bidding for impressions, the bidders are advertising systems fighting for the right to serve ads from their advertisers. Currently, the participants in Yandex's RTB auction include Yandex.Direct, the company's ad serving system, and myThings, which has become the first affiliate to work with Yandex. The potential number of participants in the RTB auction, both websites and Demand Side Platforms (DSPs), is unlimited.

Each time a web user visits a page, the Real-Time Bidding system instantly offers participating advertising systems an opportunity to buy an impression on the page the user is about to view. Advertising systems, in turn, automatically choose the best ad for this particular offer and make a bid. The system chooses the best bidder, and, in result, the web user sees the ad that has won the auction.

"Real-Time Bidding provides us with an entirely new business model that boosts both return on investment for advertisers and advertising revenues for websites. Advertisers now have an opportunity to target their display ads exclusively to specific audiences while paying exactly what they like. Website owners, on the other hand, can benefit from the auction-based sales that considerably improve their chances to increase revenue from advertising," says Nikolay Danilov, head of the project at Yandex.

The new technology has been implemented to serve search and display ads on websites in the Yandex Advertising Network (YAN). The first clients to explore the benefits of Real-Time Bidding are Yandex's partners in the YAN -- travel.ru, forumhouse.ru, newsru.com, and klerk.ru.

About Yandex

Yandex (Nasdaq: YNDX - News) is the leading internet company in Russia, operating the country's most popular search engine and most visited website. Yandex also operates in Ukraine, Kazakhstan, Belarus and Turkey. Yandex's mission is to answer any question internet users may have.

The Yandex Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10933

About myThings

myThings offers adaptive retargeting ads generated in real-time, for each user based on previous interactions with the advertiser's website. Each ad is optimised to maximum relevancy for the user. myThings has over 200 partnerships with online retailers and brands, leading European affiliate networks, analytics platforms and advertising agencies.

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