Why Baidu Stock Wilted on Wednesday
Veteran Chinese tech giant (NASDAQ: BIDU) looked rather tired to equity investors on Wednesday. They didn't seem wowed by the company's latest earnings release and expressed this by collectively trading their American depositary shares (ADS) down by almost 3%. This was a steeper fall than the 0.2% endured by the bellwether S 500 index.
Baidu's second-quarter results, published well before market open that day, revealed that the company's revenue slumped by 4% year over year to 32.7 billion yuan ($4.55 billion). That was slightly below the consensus analyst estimate of 32.9 billion yuan ($4.58 billion).
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Source Fool.com
Baidu Inc. A ADR Stock
€121.40
1.170%
The stock is one of the favorites of our community with 21 Buy predictions and 1 Sell predictions.
As a result the target price of 123 € shows a slightly positive potential of 1.32% compared to the current price of 121.4 € for Baidu Inc. A ADR.
