Baidu Inc (ADR) (NASDAQ:BIDU) accounts for almost four-fifths of all search engine queries in China as per the latest data for the fourth quarter. It is investing very heavily into apps for search services and mapping to take on competition from other companies. It is also taking the acquisition route very aggressively to bring about inorganic growth and also increase its share in the ecommerce segment. Baidu acquired a 59% stake in Nuomi Holding Inc, a e-commerce service provider, for $160 million in August. It also acquired 90 Wireless Websoft Ltd., one of the most popular third party stores for smartphone applications for $1.85 billion. It is also scouting for more acquisitions in the ecommerce segment though it is not very forthcoming about this. Baidu Inc (ADR) (NASDAQ:BIDU) stock opened at $185.50 in last session, and closed at $6.17, while the day range of BIDU stock is $180.95-$189.34.The stock showed a positive weekly performance of 6.50%.
A number of firms have modified their ratings and price targets on shares of SINA Corp (NASDAQ: SINA) recently. SINA Corp had its price target lowered by analysts at Deutsche Bank to $87.00. SINA Corp (NASDAQ:SINA) stock opened at $75.42, in last session and closed at $72.41, by loosed -1.40%. The 52 week range was $45.54-$92.83. Company’s market capitalization is $4.83 billion.
If SOHU is overbought, what about Ata Inc. (NASDAQ:ATAI), one may ask. ATA Inc. (NASDAQ:ATAI) is a low volume, small cap Chinese stock that is hard to read on technical indicators. Nevertheless one thing is for sure: downside risk exceeds upside potential for ATAI and SOHU. Sohu.com Inc (NASDAQ:SOHU) stock loosed -4.07% and finished the last session at $80.29.The EPS of the stock remained -0.44.Company’s market capitalization is $3.07 billion.
Qihoo 360 Technology Co Ltd (NYSE:QIHU)’s shares jumped 4.16% to $121.53. The company on Mar. 6 reported its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2013. Revenues were $221.6 million, representing an increase of 115.3% from $103.0 million in the fourth quarter of 2012 and an increase of 17.9% from $187.9 million in the third quarter of 2013. Qihoo 360 Technology Co Ltd (NYSE:QIHU) stock opened the session at $124.42, and closed the session at $20.79.The 52 week range of the QIHU stock remained $27.76-$124.42 and the day range was $118.05-$124.42.
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