Sohu's Wait and See

Last week I wrote about a rumor that Chinese Web portal Sohu (SOHU) would sell its Sogou search engine to either Qihoo 360 (QIHU) or Baidu (BIDU). Right after that, I went long Sohu. It's been a very profitable trade so far as the stock up to $63 from the high $50s last week.

The rumor was that Qihoo would pay $1.4 billion in a combination of cash and stock for Sogou. On Wednesday, Sohu CEO Charles Zhang seemed to deny that any search engine deal was imminent. But his language also seemed to indicate that he was leaving a door open....205 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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