NY Times RECEIVES Offer for About.com and 3 Morning Hot Stocks Attracting Investor Attention
Chinese anti-virus software company Qihoo 360 (NYSE:QIHU) reports EPS of $0.17 and revenue of $72.8 million, both in-line, for the second quarter.
High-end consumer retailer Williams-Sonoma (NYSE:WSM) reports strong sales across all brands and double digit growth in Pottery Barn and West Elm. E-commerce sales rise 13.9 percent y-on-y to $361 million. Full-year revenues are expected to grow 7%-8% and EPS to $2.44 – $2.51.
The New York Times (NYSE:NYT) gets a $300 million offer from InterActiveCorp (NASDAQ:IACI) for its About.com unit, according to Reuters. IAC would like to merge About.com with its Ask.com search engine and enhance its question-and-answer capabilities. The offer from IAC betters an earlier offer of $270 million from Answers.com.
Big brand marketing, such as from McDonald’s (NYSE:MCD) comes under fire from consumer watchdog groups for its use of viral marketing practices through sites such as HappyMeal.com and for storing pictures and videos of children without the permission of parents. These groups would like the FTC to implement stricter rules for the protection of privacy on the Internet.