Sohu Up Over 11% on Going-Private Report
Shares of Sohu.com (NASDAQ: SOHU), a major Chinese Internet company, first gapped down, then up, late in the day on Tuesday after a report indicated that the company planned to delist from the Nasdaq.
Bloomberg cited Morning Post, reporting that Sohu planned to delist from the Nasdaq and be taken private. Shares traded up over 11% heading into the close Tuesday.
Sohu is based in Beijing, and is one of the most popular websites in the world. Baidu (NASDAQ: BIDU) shares moved higher in sympathy, up over 1.5%, while shares of Qihoo 360 (NYSE: QIHU) were little changed, having already rallied over 5% on the session.
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