Orlando, FL -- (SBWIRE) -- 08/27/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Caterpillar Inc. (NYSE:CAT), Qihoo 360 Technology Co Ltd (NYSE:QIHU).
Caterpillar Inc. (NYSE:CAT) stock dropped 0.53% to $83.12. The company on August 21 announced its sponsorship of the 2013 High Horsepower Summit (HHP) Summit, September 17-19 in Chicago, Illinois. This technology and end-user conference is North America's leading conference on the use of natural gas to fuel high horsepower operations.
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Additionally, TheStreet reaffirmed their buy rating on shares of Caterpillar (NYSE:CAT) in a report issued on August 9. Separately, analysts at Zacks downgraded shares of Caterpillar from a neutral rating to an underperform rating in a research note to investors on Friday, August 2nd. They now have a $77.00 price target on the stock.
Qihoo 360 Technology Co Ltd (NYSE:QIHU) shares increased 2.06% to $80.42. The company on August 25 reported a surge in profit for the second quarter, driven mainly by strong growth at online advertising and internet value-added services businesses. Qihoo 360's attributable profit for the quarter surged to $33.0 million or $0.26 per ADS from $7.0 million or $0.06 per ADS last year. Adjusted net income rose to $51.0 million or $0.40 per ADS from $20.6 million or $0.17 ADS last year. Analysts expected earnings of $0.26 per ADS for the quarter. Total revenues for the quarter rose 108 percent to $151.7 million from $72.8 million last year. Analysts estimated revenues of $144.19 million for the quarter.
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Additionally, the company on August 8 expects its share of advertising sales to rise closer to its proportion of web query traffic as it steps up competition with Baidu Inc. (BIDU). Qihoo, which doubled revenue in the second quarter, gets about 1 percent of China’s $7 billion online advertising market while it has 18 percent of search traffic, Chief Financial Officer Alex Xu said in an interview in Beijing today.
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