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Stock Market & Financial Investment News

News Breaks
August 25, 2014
11:26 EDTBIDU, QIHUQihoo 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
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November 25, 2014
15:11 EDTQIHUQihoo 360 risk/reward favorable, says Nomura
Nomura said Qihoo 360's risk/reward is favorable following the largely in-line Q3 report and expects PC search monetization to drive 2015 growth. Shares are Buy rated.
12:19 EDTQIHUOn The Fly: Midday Wrap
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12:16 EDTQIHUQihoo 360 upgraded to Outperform from Neutral at Credit Suisse
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09:20 EDTQIHUOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Signet Jewelers (SIG), up 2.6%... Tiffany (TIF), up 4.8%... Nuance Communications (NUAN), up 5.1%... Brown Shoe (BWS), up 6.6%... Cracker Barrel (CBRL), up 3.1%... Qihoo 360 (QIHU), up 5.8%... DSW (DSW), up 7.3%. ALSO HIGHER: SinoCoking Coal (SCOK), up 27.9% after aboveground facility operating at 100% capacity. DOWN AFTER EARNINGS: Xcerra (XCRA), down 7.4%... Workday (WDAY), down 8.4%... Brocade (BRCD), down 3.8%... Post (POST), down 7.5%. ALSO LOWER: Wet Seal (WTSL), down 15.8% after announcing that it has not set a timetable for review of strategic and financial alternatives... Medgenics (MDGN), down 11.1% after 5.125M share Spot Secondary priced at $4.10... Pandora (P), down 3.7% after being downgraded to Underperform from Market Perform at FBR Capital... Cyberark Software (CYBR), down 3.7% after receiving multiple downgrades.
November 24, 2014
17:02 EDTQIHUQihoo 360 sees Q4 revenue $410M-$415M, consensus $405.08M
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17:01 EDTQIHUQihoo 360 reports Q3 adjusted EPS 63c, consensus 61c
Reports Q3 revenue $376.4M, consensus $365.35M.
15:20 EDTQIHUNotable companies reporting after market close
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15:14 EDTQIHUQihoo 360 technical notes before earnings
In recent weeks the shares have recovered from a 52-week low at $60.25 which was the conclusion of a downtrend that began in late August. A key area of support if news should disappoint would be at that low, with support below it at $58.22 on an extreme reaction to results or guidance. If the news exceeds expectations, the first resistance test may come at the area of several pivot lows at $74. A test up to $80, a strong resistance level, may be possible if the shares break out above $74. There is a large short-base in the name at over 10% of the float short which would add to buy-to-cover demand on a positive surprise.
14:37 EDTQIHUQihoo 360 looking to benefit from Internet of Things, WantChinaTimes says
Chinese Internet security firm Qihoo 360 is looking to obtain revenue from the emergence of the Internet of Things , 21st Century Business Review reported, according to WantChinaTimes. Internet breaches can now lead to financial losses and even the loss of lives, Qihoo 360 co-founder and president Qi Xiangdong said, the website reported. Reference Link
07:28 EDTQIHUQihoo 360 volatility elevated into Q3 and outlook
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November 21, 2014
14:53 EDTQIHUQihoo 360 volatility elevated into Q3 and outlook
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09:36 EDTBIDUActive equity options trading
Active equity options trading according to Track Data: AAPL AMZN TSLA BIDU CLF DOW LVS BABA TWTR GILD
November 19, 2014
08:46 EDTBIDUBaidu unit gets RMB 1.8B investment from Xiaomi, Marbridge Daily says
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November 17, 2014
08:27 EDTBIDUBaidu rumored to buy payment operator 99Bill, Marbridge Daily says
Baidu has struck a deal to acquire Chinese third-party payment provider 99Bill for RMB 2B, according to TechWeb, reported Marbridge Daily. Reference Link
November 13, 2014
13:56 EDTQIHUChina mobile game sector to grow slower in 2015, says Rosenblatt
Rosenblatt says Tencent reported below consensus numbers, particularly in mobile games, where revenue fell sequentially. The firm expects China's mobile game sector to grow slower in 2015 and remains on the sidelines with regards to shares of Sky-mobi (MOBI), China Mobile Games (CMGE) and iDreamSky (DSKY). Rosenblatt thinks Qihoo's(QIHU) mobile game distribution business will also be hurt by the slowing growth.
09:54 EDTBIDUCtrip.com rises 3.7% to $58.81 amid rumor of Baidu interest
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