- Baidu (NASDAQ:BIDU) has announced a new $1B share repurchase program, after its stock price got hammered by investors following weak earnings results on Monday.
- The buyback will take place over the next 12 months and will be funded from the company's existing cash balance.
- On the decline: BIDU shares have now lost almost a third of their value since their all-time high last November, and are down 19.1% over the past week.