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China’s No. 2 search provider, Qihoo 360 Technology (QIHU), announced that its board had authorized the repurchase of up to $200 million of the company’s shares, news that boosted the company’s stock on Thursday. The share repurchases will be funded with Qihoo’s existing cash reserves and ongoing cash flow, the company said in a statement. Qihoo added that it had raised nearly $1 billion through a convertible bond offering in August and had about Scalper1 News
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