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April 12, 2012
10:42 EDTSINA, BIDU, SOHUChina removed thousands of Internet posts in recent weeks, Xinhua reports
The Chinese government has removed more than 210,000 Internet posts and shut down 42 websites since mid-March, according to Xinhua, which cited Liu Zhengrong, a senior official with the country's State Internet Information Office. The Chinese government won't tolerate any attempts to spread "rumors " via the Internet said Liu, adding that rumor spreading is illegal under Chinese law, the publication reported. Reference Link
News For SINA;BIDU;SOHU From The Last 14 Days
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August 29, 2014
06:34 EDTBIDUTencent, Baidu, Wanda organize $8.14M e-commerce venture, Reuters says
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August 27, 2014
06:53 EDTBIDUWanda, Tencent, Baidu collaborate for $813M e-commerce venture, Reuters says
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August 25, 2014
11:26 EDTBIDUQihoo 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.

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