Qihoo 360 (QIHU) Slips; Sohu Talks End Following Tencent Deal
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UPDATE: Goldman Sachs Upgrades Sohu (SOHU) to Conviction Buy
September 17, 2013 8:01 AM EDT(Updated - September 17, 2013 8:25 AM EDT)
Goldman Sachs upgraded Sohu.com (NASDAQ: SOHU) from Neutral to Conviction Buy with a price target of $98. Analyst Fei Fang thinks investments by the company are paying off.
"We believe costly investments in video, search,... More
Sohu (SOHU) Moves Higher After Announcing Strategic Deal with Tencent and Sogou
September 16, 2013 6:54 AM EDTSohu.com Inc. (NASDAQ: SOHU), Sogou Inc. and Tencent Holdings Limited jointly announced today the establishment of a strategic cooperation that will reinforce and strengthen Sogou as a leader in the large and fast-growing China market for search and internet services, particularly for the mobile platform.
To implement this strategic cooperation, Tencent has invested a net amount of US$448 million in cash in Sogou and merged its Soso search related businesses and certain other assets with Sogou. Immediately after the transaction, Tencent holds 36.5% of Sogou's equity capital on a fully-diluted basis, which could... More
