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
Sign up for a free trial to see the rest of the stories you've been missing.
April 17, 2015
16:11 EDTBIDUOptions Update; April 17, 2015
Subscribe for More Information
09:36 EDTBIDUActive equity options trading on open
Subscribe for More Information
April 16, 2015
05:52 EDTQIHUStocks with implied volatility movement; RIG QIHU
Subscribe for More Information
05:50 EDTBIDUReport: Baidu to launch online shopping mall platform, DigiTimes says
Subscribe for More Information
April 15, 2015
09:46 EDTQIHUQihoo 360 calls active on takeover chatter
Subscribe for More Information
09:44 EDTQIHURumor: Qihoo 360 strength attributed to takeover speculation
Subscribe for More Information
April 14, 2015
09:35 EDTBIDUActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN PBR SU NFLX ALU BIDU TSLA JNJ GE
April 10, 2015
13:04 EDTQIHUStreet Check: JD.com up 20% since William Blair upgrade last month
Subscribe for More Information
10:56 EDTBIDUStocks with call strike movement; BIDU AAPL
Subscribe for More Information
09:39 EDTBIDUActive equity options trading on open
Subscribe for More Information
07:31 EDTBIDUChinaNet Online initiates O2O business project near Huaqiao University in China
Subscribe for More Information
06:38 EDTBIDUChina using new weapon to censor Internet content, NY Times says
China has deployed a new weapon in its effort to prevent Chinese citizens from viewing foreign websites of which Beijing does not approve, according to The New York Times. Dubbed The Great Cannon, the new weapon enables the government to intercept foreign web traffic flowing to Chinese websites, inject malicious code, and redirect the traffic, the newspaper stated, adding that the technology could easily be used to spy on all users who obtain content hosted on a Chinese computer. Chinese Internet stocks include Baidu (BIDU), SINA (SINA), Wiebo (WB), and Sohu.com (SOHU). Reference Link
April 9, 2015
16:00 EDTBIDUOptions Update; April 9, 2015
Subscribe for More Information
09:36 EDTBIDUActive equity options trading on open
Subscribe for More Information
08:00 EDTBIDUBaidu advertising boycott suspended by Putian Healthcare, Marbridge Daily says
Subscribe for More Information
April 8, 2015
09:35 EDTBIDUActive equity options trading on open
Subscribe for More Information
08:51 EDTBIDUHSBC expects Baidu and PHICC to reach an agreement shortly at HSBC
Subscribe for More Information
April 6, 2015
16:00 EDTBIDUOptions Update; April 6, 2015
iPath S&P 500 VIX Short-Term Futures down 51c to 24.53. Option volume leaders: AAPL TSLA VZ TWTR BIDU RIG NFLX AMZN KO PBR according to Track Data.

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