NEW YORK (TheStreet) -- Qihoo 360 (QIHU) was gaining 4.6% to $99.60 Monday on news of a new partnership with China Unicom's (CHU) Beijing subsidiary that lets some smartphone users download apps without charging them for data.
According to Marbridge Daily China Unicom subsidiary Beijing Unicom reachers and agreement with Qihoo that will let users download apps and games in a special "Free Data" section of Qihoo's 360 Mobile Assistant app. Users will not be charged for the mobile data used to download the apps and games in the special section.
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TheStreet Ratings team rates QIHOO 360 TECHNOLGY CO -ADR as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate QIHOO 360 TECHNOLGY CO -ADR (QIHU) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."