QIHOO 360 Technology Co. Ltd. (QIHU) - NYSE
  • Aug. 31, 2015, 5:35 PM
  • Aug. 28, 2015, 8:16 AM
    • The investor group offering to buy out Qihoo 360 (NYSE:QIHU) is considering cutting its $9B bid after China's stock-market rout lowered valuations, WSJ reports.
    • The Internet-services provider's shares closed at $51.28 on Thursday, one-third below the nonbinding $77-a-share offer made in June by its chairman, Zhou Hongyi, and a clutch of investors.
    • The proposed buyout would be the largest take-private deal for a U.S.-listed Chinese company.
    • QIHU -4.4% premarket
    | Aug. 28, 2015, 8:16 AM | 21 Comments
  • Aug. 26, 2015, 12:18 PM
    • Chinese tech stocks are under pressure again, and Qihoo (QIHU -9.5%) is among the biggest casualties. 1.7M shares have been traded thus far vs. a 3-month daily average of 2.9M.
    • Separately, Qihoo and Coolpad's Qiku JV has unveiled three Android phones: The high-end Q Terra, the low-end Q Luna, and an unnamed mid-range China-only model. The first two phones will begin shipping in China in September, before gradually reaching other emerging markets such as India, Brazil, and Russia.
    • The high-end and mid-range phones will have 6" displays and dual 13MP rear cameras, and the low-end phone a 5.5" display and single 13MP rear camera. The high-end model sports a 2K resolution, and the others 1080p. Qiku is emphasizing the phones' security features, such as a dedicated VPN for payments and a kill switch for lost/stolen phones. Competition will be provided Samsung, Xiaomi, Huawei, Lenovo, and many others.
    • Qihoo's Q2 report arrives on Sep. 1. Shares are now 38% below the $77/share buyout offer price provided by an investor group led by co-founder/CEO Hongyi Zhou. Doubts have been aired about whether the deal will hold.
    | Aug. 26, 2015, 12:18 PM | 8 Comments
  • Aug. 24, 2015, 9:22 AM
    • The Shanghai and Shenzhen exchanges nosedived again overnight as fears of an economic slowdown triggered panic selling, and U.S. futures are off sharply premarket. As one would expect, many U.S.-traded Chinese names are seeing big losses.
    • Baidu (NASDAQ:BIDU) -9.8% premarket. SINA -9.7%. Weibo (NASDAQ:WB) -10.5%. Ctrip (NASDAQ:CTRP) -9.4%. Qunar (NASDAQ:QUNR) -15%. SouFun (NYSE:SFUN) -15.4%. NQ Mobile -10.1%. Qihoo (NYSE:QIHU) -14.7%. YY -9.3%. Bitauto (NYSE:BITA) -8.8%. JD.com (NASDAQ:JD) -9.6%. Vipshop (NYSE:VIPS) -15.9%.
    • Alibaba (previous) is down 9.8% to $61.48, making new post-IPO lows along the way. Tencent (OTCPK:TCEHY) fell a relatively modest 5% overnight in Hong Kong.
    • ETFs: CQQQ, KWEB, QQQC, EMQQ
    | Aug. 24, 2015, 9:22 AM | 12 Comments
  • Aug. 24, 2015, 9:19 AM
    | Aug. 24, 2015, 9:19 AM | 14 Comments
  • Aug. 20, 2015, 11:01 AM
    • The Shanghai and Shenzhen exchanges respectively fell 3.4% and 3% overnight as macro fears persist, and the Nasdaq is down 1.5% amid a general flight to safety. The Guggenheim China Tech ETF (CQQQ -3.2%) is once more near a 52-week low of $30.09 (set on July 8).
    • Major Web/mobile decliners include Qunar (QUNR -9.1%), Vipshop (VIPS -4.9%), JD.com (JD -4.6%), Qihoo (QIHU -4.5%), ChinaCache (CCIH -6.6%), SouFun (SFUN -5.9%), Sina (SINA -5.7%), Weibo (WB -4.3%), Baozun (BZUN -9.3%), and Wowo (WOWO -3.2%).
    • Jumei (down 22.3%), Youku (down 8%), and 58.com (down 4.9%) are seeing steep losses in spite of delivering Q2 beats after the close yesterday. Baozun reported yesterday morning, and Sina and Weibo Tuesday afternoon.
    • ETFs: KWEB, QQQC, EMQQ
    | Aug. 20, 2015, 11:01 AM | 2 Comments
  • Jul. 27, 2015, 9:29 AM
    • After bouncing in recent weeks with the help of massive government support, Chinese markets nosedived once again overnight amid a backdrop of weak manufacturing data. Shanghai fell 8.5%, Shenzhen fell 7%, and the ChiNext Index fell 7.4%.
    • Not surprisingly, many U.S.-traded Chinese tech names are off sharply in premarket trading. YY -4.2%. Qihoo (NYSE:QIHU) -5.5%. JD.com (NASDAQ:JD) -5.4%. SOHU -6%. iDreamSky (NASDAQ:DSKY) -9.6%. SouFun (NYSE:SFUN) -8%. SINA -5.5%. Weibo (NASDAQ:WB) -7.8%. Vipshop (NYSE:VIPS) -4.8%. Youku (NYSE:YOKU) -6.2%. Qunar (NASDAQ:QUNR) -6.2%. Dangdang (NYSE:DANG) -5.4%. 58.com (NYSE:WUBA) -4.7%. 500.com (NYSE:WBAI) -7.2%. Jumei (NYSE:JMEI) -5.7%. NQ Mobile (NYSE:NQ) -6%. Bitauto (NYSE:BITA) -6.3%. Autohome (NYSE:ATHM) -4.8%. Cheetah Mobile (NYSE:CMCM) -10.1%.
    • Sohu and Changyou reported this morning. Baidu reports after the close.
    • ETFs: CQQQ, QQQC, KWEB, EMQQ
    | Jul. 27, 2015, 9:29 AM | 9 Comments
  • Jul. 9, 2015, 9:18 AM
    | Jul. 9, 2015, 9:18 AM
  • Jul. 8, 2015, 9:12 AM
    | Jul. 8, 2015, 9:12 AM | 19 Comments
  • Jul. 7, 2015, 10:42 AM
    • The selloff in Chinese equities refuses to let up: Shanghai fell 1.3% overnight, Shenzhen fell 5.3%, and Hong Kong fell 2.7%. The declines come amid a backdrop of frantic government efforts to halt the plunge, and requests by hundreds of Chinese companies for trading halts.
    • The lion's share of U.S.-traded Chinese Web and mobile firms are down at least 5%, and many are down more than twice that. In alphabetical order by ticker, major decliners include Autohome (ATHM -10.6%), Bitauto (BITA -18.7%), Baozun (BZUN -22.7%), ChinaCache (CCIH -14.6%), Cheetah Mobile (CMCM -15.2%), China Mobile Games (CMGE -13.2%), Ctrip (CTRP -10.1%), Changyou (CYOU -12.6%), Dangdang (DANG -13.8%), iDreamSky (DSKY -15.4%), E-House (EJ -15.9%), Jumei (JMEI -20.2%), Leju (LEJU -12.1%), eLong (LONG -12.6%), Momo (MOMO -9.4%), NQ Mobile (NQ -16.7%), NetEase (NTES -12.2%), Qihoo (QIHU -10.3%), Qunar (QUNR -14.2%), Renren (RENN -17.8%), SouFun (SFUN -16.3%), Sohu (SOHU -10.9%), Taomee (TAOM -15.1%), Vipshop (VIPS -9.7%), Weibo (WB -10.9%), 500.com (WBAI -26.2%), Wowo (WOWO -26.7%), 58.com (WUBA -17.3%), Xunlei (XNET -14%), Youku (YOKU -12.2%), and YY (YY -9.4%).
    • The plunge seen over the last two months (aided by panic selling and margin calls?) has led multiples for U.S.-traded Chinese tech names to compress dramatically, with forward P/E and P/S ratios often below those of U.S. peers sporting similar growth profiles. The Guggenheim China Tech ETF (CQQQ -9.3%) is down 29% from a May peak of $45.64.
    • ETFs: KWEB, QQQC, EMQQ
    • Yesterday: Chinese tech stocks tumble again in spite of fresh government support
    • Earlier today: Chinese phone firms decline as country's markets sink
    • Update: The group pared its losses a bit in afternoon trading. CQQQ closed down 5.8%.
    | Jul. 7, 2015, 10:42 AM | 49 Comments
  • Jun. 17, 2015, 9:17 AM
    | Jun. 17, 2015, 9:17 AM
  • Jun. 17, 2015, 8:08 AM
    • In partnership with investment firms Golden Brick Capital, China Renaissance, and Sequoia Capital, Qihoo (NYSE:QIHU) co-founder, chairman, and CEO Hongyi Zhou has offered to take the company private for a price equal to $77 per ADS - a 16.6% premium to Tuesday's close.
    • As is the norm, Qihoo's board plans to form a committee to review the offer. Zhou's proposal appears to be the largest in a recent wave of going-private offers for U.S.-traded Chinese companies.
    • Qihoo has jumped to $73.60 premarket.
    | Jun. 17, 2015, 8:08 AM | 32 Comments
  • Jun. 5, 2015, 12:24 PM
    • In what's now a familiar story, U.S.-traded Chinese Internet stocks are posting big gains following an overnight rally in the Middle Kingdom: The Shanghai Composite rose 1.5%, topping 5,000 for the first time since 2008. The Nasdaq is nearly flat.
    • Big gainers include Qihoo (QIHU +7.5%), Bitauto (BITA +5.8%), JD.com (JD +4%), YY (YY +4.9%), 58.com (WUBA +3.9%), Sina (SINA +7.8%), Weibo (WB +4.8%), 500.com (WBAI +9.9%), Jumei (JMEI +4.3%), Sky-mobi (MOBI +4.3%), iDreamSky (DSKY +5.3%), E-House (EJ +3.6%), and Leju (LEJU +4%). Qunar is also up strongly after downsizing and pricing a stock offering.
    • Sina and Weibo are now respectively up 39% and 22% since Sina CEO Charles Chao announced on Monday he's investing $456M in Sina.
    • ETFs: KWEB, CQQQ, QQQC
    | Jun. 5, 2015, 12:24 PM | 7 Comments
  • May 26, 2015, 10:01 AM
    • Following a new $45M investment, Qihoo (QIHU -0.5%) owns 49.5% of its mobile phone JV with Chinese Android OEM Coolpad, up from a prior 45%.
    • The JV, which (like Xiaomi) plans to primarily sell phones online, was first announced last December. Earlier this month, Qihoo/Coolpad announced the JV's phones would be sold under the Qiku label, and that three models would initially be offered. Aggressive pricing is promised.
    | May 26, 2015, 10:01 AM | 7 Comments
  • May 20, 2015, 12:01 PM
    • Up moderately in AH trading yesterday after beating Q1 estimates and providing in-line Q2 guidance, Qihoo (NYSE:QIHU) has tumbled towards $55 today.
    • No downgrades have yet arrived. The Q1 slowdown seen in Qihoo's Internet value-added service revenue (up 7.1% Y/Y, after rising 112% in Q4) thanks to PC gaming weakness and online lottery suspensions (offsetting mobile gaming growth) could have some investors on edge.
    • Shares now trade for less than 12x a pre-earnings 2016 EPS consensus of $4.75.
    | May 20, 2015, 12:01 PM | 8 Comments
  • May 19, 2015, 7:17 PM
    • Qihoo (NYSE:QIHU) is guiding for Q2 revenue of $435M-$445M (+37%-40% Y/Y), in-line with a $437.2M consensus and favorable at the midpoint.
    • Lifting Q1 EPS: Operating expenses (non-GAAP) rose 35% Y/Y in Q1 to $209.7M, a marked slowdown from Q4's 84% and Q3's 110%, and below revenue growth of 45%. GAAP sales/marketing spend totaled $90.6M, G&A $27.8M, and R&D $112M. Also helping: Gross margin was 79.3%, down from 81% a year ago but up from Q4's 76.1%.
    • Online ad revenue rose 75.1% Y/Y to $245.3M; Internet value-added services (IVAS - gaming-dominated) rose 7.1% to $133.7M. Rising search and mobile ad sales fueled the ad growth; IVAS revenue was hurt by "soft business trend in Web games" and the March suspension (following government mandates) of online lottery sales.
    • User metrics: Total users of Qihoo products/services rose by 8M Q/Q and 24M Y/Y to 503M. Smartphone users of Qihoo's 360 Mobile Safe app rose by 34M Q/Q and 240M Y/Y to 778M. Monthly active users of Qihoo PC browsers rose by 15M Q/Q and 35M Y/Y to 376M. Average daily unique visitors for Qihoo's 360 browser startup page rose by 1M Q/Q and 11M Y/Y to 133M. Qihoo asserts its 360 Mobile Assistant app store "continued to maintain its leadership position in Android app distribution in China."
    • QIHU +1.2% AH to $59.48.
    • Q1 results, PR
    | May 19, 2015, 7:17 PM | 8 Comments
Company Description
Qihoo 360 Technology Co., Ltd. engages in the provision of Internet and mobile security products. Its core Internet and mobile security products include 360 Safe Guard, 360 Anti-Virus, and 360 Mobile Safe. It also develops platform products that include 360 Browsers, 360 Personal Start-Up page,... More
Sector: Technology
Industry: Internet Service Providers
Country: China