Kolkata, West Bengal -- (SBWIRE) -- 09/20/2013 -- Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Baidu.com, Inc. (ADR)(NASDAQ:BIDU), Qihoo 360 Technology Co Ltd (NYSE:QIHU).
Baidu.com, Inc. (ADR)(NASDAQ:BIDU) shares gained 1.37% to $147.70. Baidu Inc. (BIDU)’s travel-booking service Qunar.com Inc. is planning a U.S. initial public offering that may raise about $150 million, said two people with knowledge of the matter on Sept. 9.
Qunar, which runs China’s most popular mobile travel app, is working with Deutsche Bank AG and Goldman Sachs Group Inc. on the sale, said the people, who asked not to be identified because the process is private. An IPO may take place as early as in the fourth quarter, they said. Baidu, operator of China’s largest search engine, paid $306 million in 2011 for a majority stake in Qunar to tap the country’s growing travel market.
Should Investors Buy BIDU After Yesterday’s Jump? Find Out Here
Qihoo 360 Technology Co Ltd (NYSE:QIHU) shares increased 4.69% to $89.97. The company on Sept. 5 announced the closing of its private placement of US$600 million in aggregate principal amount of convertible senior notes due 2018, including US$50 million in principal amount of notes issued upon the exercise in full of the over-allotment option that the Company previously granted to the initial purchasers of the notes. Qihoo 360 anticipates using the proceeds for general corporate purposes.
Moreover, QIHU‘s stock had its “buy” rating reiterated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Sept. 17. They currently have a $94.00 price objective on the stock.
How Should Investors Trade QIHU After The Recent Volatility? Get Free Trend Analysis Here
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