Tech Talk | Qihoo 360 (QIHU), Oracle (ORCL), Ambarella (AMBA)

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Qihoo 360 Technology Co. Ltd. (NYSE: QIHU)

Shares of QIHU jumped over 6% in Wednesday’s session after the company’s CEO Hongyi Zhou presented a 9 Billion dollar buyout proposal at $77, nearly a 17% premium over Tuesday’s closing price of $66.05. It is important to note that this is simply just a proposal in its earliest stage and has yet to be reviewed by the company.

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In a statement released by QIHU they spoke to this degree, “There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed relating to the proposed transaction or that this or any other transaction will be approved or consummated.”

If the buyout would come to fruition, it would in fact be the largest take private scenario of a Chinese company trading on the U.S. exchanges.

Qihoo 360 Technology Co. Ltd., through its subsidiaries, provides Internet services in the People’s Republic of China. The company operates through Internet Services and Others segments. Yahoo! Finance

Oracle Corporation (NYSE: ORCL)

ORCL reported Q4 earnings results yesterday after the market close and fell well short of Wall Street’s consensus. ORCL reported $0.78 earnings per share on $10.7 billion in revenue, a huge miss from the expectations of $0.87 and $10.95 billion, respectively. This comes as a disheartening and disappointing to shareholders as Q4 is historically the strongest quarter for ORCL.

ORCL Cofounder and Executive Chairman, Larry Ellison, had the following comments on the financial results:

“We expect to book between $1.5 and $2.0 billion of new SaaS (software as a service) and PaaS (platform as a service) business this fiscal year. That means Oracle would sell more new SaaS and PaaS business than salesforce.com plans to sell in their current fiscal year — the only remaining question is how much more. Oracle’s planned SaaS and PaaS revenue growth rate is around 60% in constant currency; salesforce.com has a planned growth rate of around 20%. When you contrast those growth rates it becomes clear that Oracle is on its way to becoming the world’s largest enterprise cloud company.”

Shares of ORCL were off sharply in afterhours trading by nearly 7% after hitting lows of $41.41.

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Oracle Corporation develops, manufactures, markets, hosts, and supports database and middleware software, application software, cloud infrastructure, hardware systems, and related services worldwide. Yahoo! Finance


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Ambarella, Inc. (NASDAQ: AMBA)

Shares of AMBA have been on a strong move higher recently and have rocketed over 300% in the past 52 weeks. The constant developments that continue to surface coupled with the volatility AMBA stock is known for create the perfect environment for quick, sharp moves.

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In recent news, AMBA was speculated to be a takeover target for Qualcomm (NASDAQ: QCOM). Interestingly enough, QCOM has just finished a $10 billion raise of new debt which could be used to acquire the HD, signal processing microchip maker.

AMBA also reported very strong Q1 financial results on June 3 due to GoPro (NASDAQ: GPRO) and its recent burst of growth as GPRO is responsible for roughly 1/3 of AMBA’s business.

The momentum in AMBA appears to be relentless as the surge continues but in the event AMBA does experience any headwinds the correction could quite possibly be as sharp as the recent move up.

Ambarella, Inc. develops semiconductor processing solutions for video that enable high-definition (HD) video capture, sharing, and display worldwide. The company’s system-on-a-chip designs integrated HD video processing, image processing, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption. Yahoo! Finance

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