What's your position on ?
Why are you ish?
You voted ish on Vote again
Posts appear on the My Feed page of subscribers to this ticker
Aug. 30, 2013, 12:48 PM
- The China mobile internet sector has collected enough users, J.P. Morgan says, and prefers Qihoo (QIHU -0.7%) and Tencent (TCEHY.PK, TCTZF.PK) because they have already amassed large mobile platforms.
- Both companies should continue to capitalize on China’s booming mobile economy, the firm says; it expects Tencent to capture 30%-35% mobile game share by the end of 2014 through content development and distribution, while QIHU could take 10% through distribution.
- The firm cuts Youku (YOKU -2.7%) and Sohu (SOHU -2.1%) to Neutral from Overweight.
- JPM also likes online real estate services platform Soufun (SFUN +4.6%) for its market leading position; users seem sticky and barrier to entry seems high.
Aug. 28, 2013, 11:22 AM
- Qihoo's (QIHU -6.6%) 2018 convertible notes carry an interest rate of 2.5%, and a conversion price of $110.96 (51% above current levels). (PR)
- Goldman estimated (before the deal was priced) the offering would dilute EPS by 4%-6%. The firm thinks Qihoo will use the proceeds " to strengthen its presence in the key strategic areas, such as in mobile gaming and search," to counter the expansion efforts of rivals.
- Judging by today's rally in Sohu (SOHU +4.7%) shares, some investors are clearly betting Qihoo will use the funds to strengthen its search presence by acquiring Sohu's Sogou unit, for which Qihoo has already held buyout talks.
- Previous: Qihoo announces $550M convertible debt offering
Aug. 28, 2013, 9:11 AM
Aug. 27, 2013, 5:41 PM
Aug. 27, 2013, 4:31 PM
- Qihoo (QIHU) is taking advantage of its giant 2013 run-up to offer $550M worth of convertible senior notes due Sep. 2018. (PR)
- A $50M overallotment option exists. The notes can be redeemed "under certain circumstances on or after September 20, 2016."
- Qihoo had $379M in cash/investments on its balance sheet at the end of Q2, and no debt. Is the company looking to use the offering to help finance a deal for Sohu's Sogou unit?
Aug. 27, 2013, 9:52 AM
- Qihoo (QIHU +3.1%) has been upgraded to Buy by BNP Paribas and Jefferies a day after the company posted a Q2 beat and strong Q3 guidance.
- Blackbaud (BLKB +5.3%) has been upgraded to Buy by Stifel following its CEO transition news.
- Peregrine Semi (PSMI +1.6%) has been started at Outperform by JMP.
- Synnex (SNX -4%) has been cut to Underperform by Raymond James.
Aug. 26, 2013, 9:48 AM
- Qihoo (QIHU) expects Q3 revenue of $181M-$183M, well above a $162.9M consensus. The company also issued blowout guidance 3 months ago.
- Revenue surged 38% Q/Q and 108% Y/Y (compares with just 59% Y/Y growth in Q1), thanks to both ramping search ad sales and strong online game activity. Online ad revenue (search/browser home page ads) +43% Q/Q and +78% Y/Y to $90.6M. Internet value-added service revenue (mostly game-related) +33% Q/Q and +181% Y/Y to $60.9M.
- Qihoo estimates 95% penetration among Chinese PC Web users for its PC security products, and 70% penetration among Chinese smartphone users for its mobile security products.
- Daily unique visitors to browser home page and sub-pages +21% Q/Q and +37% Y/Y to 114M.
- 338M smartphone users use Qihoo's 360 Mobile Safe app, +23% Q/Q. Web browser users slipped by 2M Q/Q to 330M. Qihoo's total monthly active users +1% Q/Q and +8% Y/Y to 461M (high penetration).
- CEO Hongyi Zhou: "During the quarter, we gained notable search traffic share." That's in-line with a recent comment from a company exec.
- Opex +72% Y/Y to $97.2M, thanks in large part to a 73% increase in R&D spend to $60.3M. Sales/marketing and G&A spend also ramped.
- Q2 results, PR
Aug. 26, 2013, 9:11 AM
Aug. 26, 2013, 6:02 AM
- Qihoo 360 (QIHU): Q2 EPS of $0.40 beats by $0.14.
- Revenue of $151.7M beats by $7.51M. (PR)
Aug. 26, 2013, 12:05 AM| Aug. 26, 2013, 12:05 AM
Aug. 25, 2013, 5:30 PM| Aug. 25, 2013, 5:30 PM
Aug. 19, 2013, 6:00 PM
Aug. 19, 2013, 1:48 PM
- Chinese Internet stocks are turning in an a very good day, aided by a rally in Shanghai that came in the wake of positive housing data.
- In addition to NetEase (boosted by a China Telecom deal) and real estate play SouFun (previous), winners include AutoNavi (AMAP +13.6%), Qihoo (QIHU +7.5%, adding to Friday's gains), YY (YY +5.7%), Vipshop (VIPS +9.1%), NQ Mobile (NQ +4.2% - SA contributor Treasure Hunter has another positive article), Sina (SINA +2.6% - still basking in its post-earnings glow) and Perfect World (PWRD +2.1%).
- The group has already been performing very well this summer, thanks to good earnings news, short-covering, momentum traders, and optimism the Chinese economy can see a soft landing.
Aug. 16, 2013, 1:13 PM
- Down 11% over the prior two days (thanks in part to a general selloff in Chinese tech stocks), Qihoo (QIHU +10%) is flying higher today.
- A likely trigger: Remarks from president Qi Xiangdong stating Qihoo's So.com search engine (launched a year ago) now has a Chinese query share of 20%. Qi also predicts So.com's query share will top 30% by the end of 2014.
- Research firm CNZZ gave Qihoo a 15.3% Chinese search share for June, up from 9.6% in Oct. '12. Baidu (BIDU -0.5%) was assigned a 69.4% June share (down from 73% in Oct. '12).
- Last month, Qihoo announced it's in talks to by Sohu's Sogou search unit (8.8% June share, per CNZZ), but cautioned it hadn't reached "the pricing stage."
- Shares +132% YTD. Q2 results are due on Aug. 26.
Aug. 15, 2013, 5:35 PM
Jul. 29, 2013, 12:35 PM
- Shanda (GAME) is nosediving as investors balk at the price it's paying to acquire affiliates responsible for handling its online game billing and customer service work, among other activities.
- One of the affiliates (Shengzhan) owns valuable data about user activity. The other (Shengjiang) runs a network that sells 2M+ real/virtual prepaid gaming cards via 180K distribution channels.
- Shanda claims service fees paid to the affiliates made up 21.3% of its Q1 revenue, and that buying the companies will help it deliver the kind of integrated platform it considers crucial for mobile success.
- Shanda is paying for the deals with cash, deferred payments, and the settlement of an outstanding loan receivable.
- Shares had more than doubled since early May before today's plunge.
- Fellow online game providers NetEase (NTES -2.6%), Qihoo (QIHU -4.1%), Perfect World (PWRD -5.3%), and Giant Interactive (GA -5%) are selling off. Sohu and subsidiary Changyou's disappointing Q2 results and Q3 guidance are the main trigger, though a moderate selloff in Shanghai isn't helping either.
Other News & PR