New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 25, 2014
11:26 EDTQIHU, BIDUQihoo 360 falls despite better-than-forecast Q2 results, Q3 revenue guidance
Shares of Chinese internet and software company Qihoo 360 Technology (QIHU) are falling despite reporting second quarter results that beat analysts' estimates. The company also provided third quarter revenue guidance that exceeded estimates. WHAT'S NEW: Qihoo 360 reported Q2 adjusted earnings per share of 50c on revenue of $317.9M, which surpassed analysts' consensus estimates of 46c and $309.38M, respectively. For the quarter, operating income was $43.9M compared to $36.6M a year ago and $39.6M in the first quarter. Non-GAAP operating margin was 21.9% in Q2, compared to 36% in the year-ago period and 14.9% in Q1. The company said the sequential decline in non-GAAP operating margin was primairly due to increased marketing and promotional expenses, personnel-related costs and bandwidth and equipment depreciation expenses. Looking ahead, Qihoo 360 forecast Q3 revenue of $360M-$365M, which is slightly higher than analysts' consensus estimates of $357.39M. WHAT'S NOTABLE: Chairman and Chief Executive Officer Hongyi Zhou commented that the company is in an "excellent position" to grow its share of China's search market in both PC and mobile traffic and revenue. The company plans to make "significant" investments in the coming quarters to strengthen its brand and market position, and to improve our products and technology, particularly in mobile Internet-related areas. The executive noted that the company's share of Internet search traffic recently reached over 30%, citing third-party data, achieving a company target fourth months ahead of schedule. ANALYST OPINION: Jefferies defended Qihoo 360 shares following the company's Q2 results. Stifel analyst George Askew feels that Qihoo 360's Q2 revenue and operating margin results were "very good" and believes that many factors, including its 30% search query share, will help it sustain its search revenue growth. The firm maintains $168 price target and Buy rating. Bank of America analyst Eddie Leung said that he expects Qihoo 360's margins to get better gradually in the second half of the year since the company is looking to control expenses and realize synergies. He anticipates search to increase at a fast rate to make up 36% of total sales in FY16. Leung believes this should particularly offset the decline in game revenues this past quarter. Leung lowered his price target on Qihoo 360 to $121 from $123. PRICE ACTION: During late-morning trading, shares of Qihoo fell $6.62 or 6.51%, to $95.13. OTHERS TO WATCH: Chinese search market leader Baidu (BIDU) rose nearly 1.7% to $217.77.
News For QIHU;BIDU From The Last 14 Days
Check below for free stories on QIHU;BIDU the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 29, 2014
14:21 EDTBIDUBMW teams up with Baidu to research highly automated driving
Subscribe for More Information
10:00 EDTBIDUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Akorn (AKRX) upgraded to Outperform from Sector Perform at RBC Capital... Alexandria Real Estate (ARE) upgraded to Buy from Hold at ISI Group... Baidu (BIDU) upgraded to Buy at UBS... Banner Corp. (BANR) upgraded to Buy from Neutral at DA Davidson... Boston Properties (BXP) upgraded to Buy from Hold at ISI Group... Brocade (BRCD) upgraded to Hold from Sell at Summit Research... Chico's FAS (CHS) upgraded to Outperform from Perform at Oppenheimer... Energy Transfer Partners (ETP) upgraded at Morgan Stanley... Equity One (EQY) upgraded to Buy from Hold at ISI Group... FedEx (FDX) upgraded to Outperform from Market Perform at Cowen... Himax (HIMX) upgraded at Craig-Hallum... Janus Capital (JNS) upgraded at Morgan Stanley... Kilroy Realty (KRC) upgraded to Buy from Hold at ISI Group... LRR Energy (LRE) upgraded to Buy from Hold at Stifel... Nationstar (NSM) upgraded at Sterne Agee... Nexstar (NXST) upgraded to Buy from Hold at Noble Financial... Nike (NKE) upgraded to Outperform from Neutral at Credit Suisse... Pearson (PSO) upgraded to Outperform from Underperform at Macquarie... Philips (PHG) upgraded to Buy from Hold at ING Group... Rent-A-Center (RCII) upgraded at KeyBanc... Rice Energy (RICE) upgraded to Buy from Accumulate at KLR Group... Sonic Automotive (SAH) upgraded to Overweight from Underweight at Morgan Stanley... Tahoe Resources (TAHO) upgraded to Outperform from Market Perform at Raymond James... Tanger Factory (SKT) upgraded to Buy from Hold at ISI Group... Universal Health (UHS) upgraded at BMO Capital... Voya Financial (VOYA) upgraded to Strong Buy from Outperform at Raymond James... Waste Management (WM) upgraded at Wedbush... Yahoo (YHOO) upgraded to Buy from Hold at Needham.
08:44 EDTBIDUBaidu upgraded to Buy at UBS
As reported previously, UBS upgraded Baidu to Buy from Neutral, citing expectations of better top-line growth and an optimistic outlook on mobile monetization. UBS raised its price target on Baidu to $272 from $212.
06:39 EDTBIDUBaidu upgraded to Buy from Neutral at UBS
Subscribe for More Information
September 25, 2014
06:13 EDTQIHUQihoo 360 implied volatility of 41 at lower end of index mean range
Subscribe for More Information
September 23, 2014
09:37 EDTBIDUActive equity options trading on open
Subscribe for More Information
September 22, 2014
08:04 EDTBIDUAltera and Baidu collaborate on FPGA-based acceleration for cloud data centers
Subscribe for More Information
06:12 EDTQIHUStocks with implied volatility below IV index mean; QIHU DDD
Stocks with implied volatility below IV index mean; Qihoo 360 (QIHU) 41, 3D Systems (DDD) 39 according to iVolatility.
September 19, 2014
16:00 EDTBIDUOptions Update; September 19, 2014
Subscribe for More Information
09:37 EDTBIDUActive equity options trading on open
Subscribe for More Information
09:03 EDTQIHUQihoo 360 Technology volatility at low end of historic range
Qihoo 360 Technology September weekly call option implied volatility is at 45, October is at 42, December is at 43; compared to its 26-week average of 60 according to Track Data, suggesting decreasing price movement.
September 18, 2014
16:00 EDTBIDUOptions Update; September 18, 2014
Subscribe for More Information
09:18 EDTQIHUQihoo makes cybersecurity deal with Southeast Asia company, China Daily says
Subscribe for More Information
07:35 EDTBIDUBaidu volatility low into Alibaba IPO
Baidu September call option implied volatility is at 28, September weekly is at 28, October is at 32, December is at 33; compared to its 26-week average of 38 according to Track Data, suggesting decreasing price movement.
September 17, 2014
12:01 EDTBIDUSeagate signs strategic agreement with Baidu
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use