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QIHOO 360 Technology Co. Ltd. (QIHU)

- NYSE
  • Jul. 19, 2013, 2:25 PM
    Sohu (SOHU +0.9%) responds to comments from a Qihoo (QIHU +1.6%) exec about M&A talks regarding Sohu's Sogou search unit by stating it "has been, and continues to be, in preliminary discussions with several potential strategic investors and partners." Sohu adds its Sogou options include both the sale of a minority stake, and "a more comprehensive strategic combination." Qihoo has issued a PR in which it says "no agreement has been reached with respect to a significant transaction," but provides little color beyond that.
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  • Jul. 19, 2013, 9:38 AM
    Qihu (QIHU -1.1%) says it's in talks to buy Sohu's (SOHU +0.4%) Sogou search unit, but cautions it's "not in the pricing stage yet" and is still weighing integration issues. Analysts estimate the business is worth $1.2B-$1.4B. Sogou, rumored to be drawing interest from a few different companies, was recently estimated to have an 8.8% share of the Chinese search market in June; Qihoo was given a 15.3% share. If integration challenges can be handled well, a Qihoo/Sogou merger would yield a company with more resources, user data, and advertising scale to take on Baidu (BIDU -0.3%, 69.4% share). Sohu has forecast Sogou revenue of $48M-$50M for Q2, +41%-44% Y/Y.
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  • Jul. 16, 2013, 11:25 AM
    Qihoo (QIHU -4.4%) slides as investors mull the impact of Baidu's (BIDU +4.9%) purchase of Chinese app store owner 91 Wireless on Qihoo's rival Mobile Assistant app store. Baidu will likely try to bundle 91's app store with its existing arsenal of mobile apps/services for OEMs, and also pitch its developer partners on publishing their apps to the store. Stifel is defending Qihoo: the firm thinks Mobile Assistant handled more downloads than 91 Wireless in the 6 months ending Jan. '13 (7B vs. 6.2B). Meanwhile, ABR defends the steep price Baidu paid: it thinks 91's rapid growth could lead it to contribute $0.11-$0.17 to 2014 EPS.
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  • Jul. 15, 2013, 10:30 PM
    Baidu (BIDU) is acquiring top Chinese mobile app distributor 91 Wireless from Hong Kong-listed NetDragon and minority shareholders for $1.9B. 91 was estimated to host ~900K Android apps from ~93K developers (#1 in China) at the end of 2012; the company has also developed several popular apps. Baidu is paying steep multiples for rapid growth: NetDragon's mobile ops posted 2012 revenue of $46M, and Q1 revenue of $23.6M (+42% Q/Q and +219% Y/Y). The deal follows Baidu's purchases of video sites PPS and iQiyi, and is another step towards building a Google-like mobile ecosystem ... and perhaps also lowering its search dependence in the face of growing competition and mobile monetization issues. 91 competes with Qihoo's (QIHU) Mobile Assistant app store.
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  • Jul. 15, 2013, 2:34 PM
    Chinese Internet stocks are turning in a good day after the government unveils a new telecom plan promising to increase fiber-to-the-home deployments, improving 3G connectivity, and issue 4G licenses by year's end. YOKU +6.2%. BIDU +4.7%. QIHU +4.8%. DANG +4.9%. YY +9.2%. CYOU +5.2%. China's telecom giants aren't moving much: CHL +0.3%. CHA -0.4%. CHU +1%. (more on China/4G)
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  • 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 Google.cn 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 so.com 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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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