Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Chinese Internet player Qihoo 360
So what: Second-quarter revenue more than doubled to $72.8 million, and adjusted non-GAAP net income also posted a healthy jump to $20.6 million, or $0.17 per share. In the coming quarter, Qihoo 360 forecasts sales between $81 million and $82 million, which would be an increase of between 71% and 73% over last year, and is also higher than the Street forecast of $80.3 million.
Now what: On top of that, Qihoo 360 just launched its own search engine in a bid to challenge dominant Chinese search engine Baidu
Interested in more info on Qihoo 360? Add it to your watchlist by clicking here.