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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
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March 26, 2015
09:36 EDTBIDUActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD TWTR FB KRFT BIDU TSLA CELG NFLX FCAU
March 25, 2015
12:07 EDTQIHU, BIDUBaidu slide attributed to Chinese trade group medical ad opposition
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09:35 EDTBIDUActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TWTR TSLA KRFT FB BIDU GPRO V GILD NFLX
05:16 EDTQIHUXueda Education announces updates on JV with Qihoo 360
Xueda Education Group (XUE) announced updates pertaining to its Joint Venture, or JV, Agreement with Qihoo 360 (QIHU). The Agreement formed a joint-venture company, Sunshine Rabbit Technology, in Beijing, on February 26, with registered capital of less than $5M for the principal business purpose of pursuing online education opportunities. Xueda's CEO and co-founder, Xin Jin, serves as chairman of the board for the joint venture. Junyi Li, a senior executive at Xueda, serves as CEO of the joint venture. Qihoo 360's co-founder and president, Xiangdong Qi, and senior vice president, Guangdong Yu, serve, together with others, as directors of the joint venture.
March 23, 2015
07:15 EDTBIDUCredit Suisse to hold a conference
18th Annual Asian Investment Conference is being held in Hong Kong on March 23-27.
06:14 EDTBIDUCiti calls Baidu one of its top picks
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March 20, 2015
09:45 EDTBIDUActive equity options trading on open
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March 19, 2015
13:35 EDTBIDUBaidu, Alibaba taking opposite approach with maps, WantChinaTimes says
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March 18, 2015
09:08 EDTBIDUYOU On Demand signs agreement with Galaxy Internet Television in China
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06:42 EDTBIDUUxin raises $170M from KKR, Baidu, others, WSJ says
Chinese used car auctioneer Uxin has raised $170M from backers including KKR (KKR) and Baidu (BIDU), reports the Wall Street Journal. Uxin will primarily use the fund to expand its business-to-consumer operations to complete with rivals Bitauto (BITA) and Autohome (ATHM). Reference Link
05:23 EDTQIHUQihoo 360 announces partnership with Microsoft
Qihu 360 (QIHU) announced a partnership with Microsoft (MSFT) to bring Windows 10, for free, to its customers in China through seamless upgrades. Qihu 360 will enable the Windows 10 upgrade with just a few clicks for their customers with accelerated download speeds. As a result, millions of Qihu 360 users will be able to upgrade to Windows 10 quickly and easily.
05:21 EDTQIHUMicrosoft announces Windows 10 to launch this Summer in 190 countries
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March 16, 2015
10:14 EDTQIHUOptions with decreasing implied volatility
Options with decreasing implied volatility: EXPR ULTA SGMS QIHU BKS PAY URBN AGN AGNC
March 13, 2015
10:37 EDTQIHUOptions with decreasing implied volatility
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