Tax on gifted us stocks

Hi, posting for a friend who is planning of gifting some stocks to his parents in India...

I bought the stocks more than 1 year back.  Gift to parents from NRE account is tax exempt I think.  Since the parents are residing in India, they dont have to pay tax in US (US-India tax treaty). I'd like to know -

1) Is there any gift tax on such transfer ? (in US there is annual and lifetime limit for tax free gifting)

2) If  parents sell them for profit after 3months, do they qualify for long term capital gains tax ? ( in US it is long term if total time of holding by donor and recipient is more than 1 yr)

Thanks.