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QIHOO 360 Technology Co. Ltd. (QIHU)

  • Jul. 5, 2013, 11:22 AM
    Google (GOOG +0.6%) had just 2.1% of the Chinese search market in June, down from 4.7% last October, per research firm CNZZ. Though Google's Chinese share has been falling for some time thanks to its decision to shut down and redirect visitors to its Hong Kong site rather than censor results, Qihoo's (QIHU +3.4%) decision to make its own search engine the default engine for its browser, and thereby swap out Google, has sped up the trend. Qihoo is now estimated to have a 15.3% share (was 9.6% in Oct.), and Sohu's (SOHU +1.3%) Sogou 8.8% (7.8% prior). Baidu's (BIDU +1.1%) share is believed to have fallen to 69.4% from 73%. (more on Qihoo/Baidu)
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  • Jul. 1, 2013, 2:11 PM
    Qihoo (QIHU +1.9%) is beta-testing a mobile search engine to go with Wi-Fi routers and English-language versions of its 360 PC/mobile security apps, says Stifel, which calls the company "in the midst of an innovation wave" and is raising its PT to $55. The launch of a mobile search engine would amount to additional competition for Baidu (BIDU -1.9%), which now has 100M+ mobile search daily users (monetization is still a work-in-progress). An English version of Qihoo's 360 Mobile Safe app would likely compete with NQ Mobile's (NQ +4.6%) apps. (Baidu PC security app)
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  • Jun. 21, 2013, 2:35 PM
    Already fierce rivals, Baidu (BIDU -0.1%) and Qihoo (QIHU -4.8%) appear set to compete even more. Marbridge Consulting observes Baidu has released a beta version of a PC security/maintenance app called Baidu Guard, which would compete against Qihoo's very popular 360 Safeguard software. The release comes a few months after Baidu unveiled antivirus software that also competes against Safeguard. Qihoo, which often bundles its browser and security software, claimed 457M monthly users for all its products/services as of March. Mobile security software users totaled 275M.
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  • May 20, 2013, 9:41 AM
    Qihoo (QIHU +8.1%) shoots to new highs following its Q1 beat. A big reason: Q2 guidance is for revenue of $142M-$144M, far above a $121.5M consensus and evidence search monetization is ramping. Ad revenue +40% Y/Y (+49% in Q4) to $63.4M, value-added services (largely games) +119% to $45.8M (+105% prior). Monthly active users +11% Y/Y, to 457M, but up just 1M Q/Q (high penetration). Browser MAUs +7% Q/Q and +22% Y/Y to 332M. Mobile security users +33% Q/Q and +272% Y/Y to 275M. Home page daily visitors +3% Q/Q and +22% Y/Y to 94M. Home page daily clicks +9% Q/Q and +66% Y/Y to 489M. Opex +89% Y/Y due to search investments. CC at 10:30AM ET (webcast). (PR)
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  • May 20, 2013, 9:10 AM
    Premarket gainers: AQ +116%. MEAD +97%. PACT +38%. WBSN +28%. RSOL +26%. ROSG +16%. JASO +16%. JRCC +14%. QIHU +12%. LDK +9%. PXP +7%. IQNT +5%. VOYA +5%. DANG +5%.
    Losers: XNPT -26%. NBG -8%.
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  • May 20, 2013, 6:00 AM
    Qihoo 360 Tech. (QIHU): Q1 EPS of $0.14 beats by $0.01. Revenue of $109.9M (+58.6% Y/Y) beats by $3.6M. (PR)
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  • May 20, 2013, 12:05 AM
    Notable earnings before Monday’s open: CPB, HGG, JASO, QIHU
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  • May 19, 2013, 5:30 PM
    Notable earnings before Monday’s open: CPB, HGG, JASO, QIHU
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  • May 15, 2013, 12:21 PM
    Qihoo (QIHU +2.6%) rallies after Sohu CEO Charles Zhang dampens M&A speculation. Shares had previously slumped on reports Qihoo is in talks to buy Sohu's Sogou search engine (competes with Qihoo's search engine) for $1.4B. Qihoo's Q1 report arrives on May 20.
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  • May 13, 2013, 10:13 AM
    Sohu (SOHU +2.5%) pops on Chinese media reports it's set to sell its Sogou search engine to Qihoo (QIHU -2.5%) for $1.4B. However, Sohu CEO Wang Xiaochuan has denied deal rumors; past reports have claimed Baidu and Tencent are also in the running. With Sohu still only having a market cap of $2.4B, it looks like many investors are skeptical (Sogou makes up less than 12% of Sohu's revenue). Qihoo (and for that matter, Baidu) would have to do a lot of heavy lifting to integrate Sogou with its own search engine.
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  • May 8, 2013, 1:10 PM
    A recent Chinese government proposal to allow local investors to buy stocks traded elsewhere could give a lift to "companies familiar to them," argues Stifel. The firm mentions Baidu (BIDU +3.3%), Qihoo (QIHU +2.1%), Youku (YOKU +1.2%), and Tencent (TCEHY.PK - trades in HK) as beneficiaries. All 3 U.S.-traded names are rallying, as are YY (YY +8.9%), Sohu (SOHU +5.1%), Perfect World (PWRD +1.6%), and Changyou (CYOU +3.1%). Youku fell yesterday after Baidu confirmed it's buying video site PPS, and will integrate it with its iQiyi site. Baidu claims PPS/iQiyi will create China's largest Web video platform in terms of mobile users and viewing time.
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  • May 6, 2013, 11:04 AM
    Qihoo (QIHU +7.3%) will be able to "generate material search revenues in the coming quarters," with the majority eventually coming from its own ad sales efforts rather than via Google, says Maxim's Echo He in a note lifting shares to new highs. He admits Google could do a better job of monetizing Qihoo search than Qihoo itself over the near-term, but sees the company's sales investments paying off long-term. Qihoo's relatively low capex (it has a 2013 budget of $70M-$80M) also sits well with He. (Barclays) (Google deal)
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  • Apr. 26, 2013, 5:51 PM
    "Mobile monetization is distant, macro conditions do not warrant aggressive pricing inflation, and online video is competitive," writes Goldman on Baidu (BIDU -7.9%), following its Q1 miss. The firm thinks surging SG&A and traffic acquisition costs will lead op. margin to fall to 39% in 2013 from 50.5% in 2012. Brean (downgrading to Hold) and Barclays also aren't confident about near-term mobile monetization. On the earnings call, CEO Robin Li admitted mobile ad prices, though "growing nicely," remain below PC prices. Rival Qihoo (QIHU -0.3%), which may have contributed to Baidu's 6.5% Q/Q drop in revenue per ad customer, was nearly unchanged.
  • Apr. 19, 2013, 5:49 PM
    8 months after Qihoo (QIHU) encroached on Baidu's (BIDU) turf by launching a search engine, Baidu is returning the favor by launching PC antivirus software meant to compete with Qihoo's 360 Safeguard and Anti-Virus apps, which are deployed on hundreds of millions of Chinese PCs. Just as Qihoo has attacked the authenticity of Baidu's search results, look for Baidu to exploit criticism of Qihoo's practices. A government agency recently denounced Qihoo for making uninstalls difficult and tricking users into thinking they're installing a Microsoft patch, among other things.
  • Apr. 17, 2013, 11:30 AM
    Qihoo (QIHU +3.2%) rallies after Barclays' Alicia Yap starts coverage with an Overweight and $38 PT. Yap is optimistic about improving search ad revenue as Qihoo ramps its salesforce, mobile opportunities fueled by Qihoo's popular security software and app store, and margin expansion (eventually reaching 40%). Thus far, Qihoo shares have spent 2013 digesting their big 2H12 gains.
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  • Apr. 2, 2013, 1:39 PM
    Baidu's (BIDU +1.8%) Chinese search share stood at 70.5% as of March 20, down from 71.5% at the end of 2012, estimates T.H. Capital. Qihoo (QIHU -1.4%), by contrast, is believed to have grown its share to 13.5% from 10.4% over this time. Nonetheless, the firm thinks Baidu's page views and unique visitors respectively grew 0.9% and 0.6% in Q1, which it thinks could bode well for Q1 revenue. Separately, Sina Tech reports Baidu is working with Qualcomm (QCOM) on a Google Glass-like product called Baidu Eye. (Citi report)
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Company Description
Qihoo 360 Technology Co Ltd provides high-quality internet and mobile security products in China. Its products and services are supported by its cloud-based security technology.
Sector: Technology
Country: China