Baidu, Inc. (BIDU) - NASDAQ
  • Wed, Apr. 27, 5:35 PM
  • Fri, Apr. 22, 9:26 AM
    • Perhaps the "Google of China" is getting still more Google-ish. Search engine Baidu (NASDAQ:BIDU) says it's formed a self-driving car team in Silicon Valley, with plans to stock the group with more than 100 researchers and engineers by year's end.
    • The company says it's currently looking to hire individuals with auto industry experience.
    • "Baidu is fully committed to making self-driving cars a reality," says Jing Wang, who will act as general manager of the autonomous driving unit called ADU-US.
    • The company says it's starting small, with "autonomy-enabled" regions, and working incrementally from there.
    • Apple's Project Titan hit the auto-technology news again the other day on word it's running a secret R&D lab in Germany.
    • Shares are -1.2% premarket in U.S. trading. Baidu reports earnings after the close next Thursday.
    • Now read Baidu Break-Up Continues With Video Spin-Off »
    | Fri, Apr. 22, 9:26 AM | 6 Comments
  • Thu, Mar. 17, 5:02 AM
    • Baidu (NASDAQ:BIDU) will soon start testing autonomous vehicles in the U.S., part of the Chinese tech giant's effort to introduce a commercially viable model by 2018.
    • In separate news, automatic emergency brakes are set to become standard on most U.S. cars within six years.
    • Automakers representing 99% of U.S. light-vehicle sales will pledge to auto-safety regulators and the nonprofit Insurance Institute for Highway Safety today that the technology will be on nearly all their cars and trucks by September 2022.
    | Thu, Mar. 17, 5:02 AM | 1 Comment
  • Fri, Feb. 26, 9:17 AM
    | Fri, Feb. 26, 9:17 AM | 7 Comments
  • Thu, Feb. 25, 7:04 PM
    • Baidu (NASDAQ:BIDU) is up 11.6% after hours to $176.51 after handily beating Q4 estimates and issuing light Q1 guidance. The company has guided conservatively at times before, and near-term expectations have been subdued due to Chinese macro concerns.
    • Boosting Q4 sales: Revenue per online ad customer rose 9.5% Q/Q and 17.4% Y/Y to $4,786; Y/Y growth improved from Q3's 9.3%. Online ad customers totaled 555K, down 10.9% Q/Q (partly due to seasonality) and up 6.1% Y/Y.
    • Mobile search MAUs rose 21% Y/Y to 657M; mobile maps MAUs rose 43% to 302M. GMV for Baidu's O2O offerings rose 397% to $2.3B. Baidu Wallet accounts rose 189% to 53M.
    • Lower spending growth boosted EPS: SG&A spend rose 28.5% to $699M, after growing 111.2% in Q3 (thanks partly to promotional spending). R&D spend rose 16.4% to $383.9M, after growing 46.9% in Q3. Traffic acquisition costs grew to 14% of revenue vs. 13.4% a year ago, operational costs to 6.3% from 4.4%, and content costs (online video-driven) to 7.4% from 4.2%.
    • Baidu's Q4 results, earnings release
    | Thu, Feb. 25, 7:04 PM | 32 Comments
  • Thu, Feb. 25, 5:45 PM
    | Thu, Feb. 25, 5:45 PM | 6 Comments
  • Thu, Feb. 25, 4:35 PM
    • Baidu (NASDAQ:BIDU): Q4 EPS of RMB7.61 ($1.18) beats by RMB0.99.
    • Revenue of RMB18.7B (+33.1% Y/Y, equal to $2.89B) beats by RMB150M.
    • Expects Q1 revenue of RMB15.41B-RMB15.97B ($2.379B-$2.465B), below an RMB16.32B consensus.
    • Shares -0.2% after hours.
    • Press Release
    • Update (4:47PM ET): Baidu is now up 10.6% after hours to $175.05.
    | Thu, Feb. 25, 4:35 PM | 10 Comments
  • Wed, Feb. 24, 5:35 PM
  • Mon, Feb. 22, 2:45 PM
    • Credit Suisse expects good things for Q4 from Baidu (BIDU +2.3%) -- set to report on Thursday -- but is cutting its search outlook for the coming year after channel checks.
    • Analyst Dick Wei cut expected core search growth for 2016 to 21%, from 25%, with worries about a continued macro slowdown that could weigh on ad spending. He has an Outperform rating on the stock, but cut his price target from $248 to $235 -- still nearly 40% upside from current ADR prices of $168.20.
    • Long term, Wei is positive on the company's search ad opportunities as well as new revenues from such avenues as app downloads.
    | Mon, Feb. 22, 2:45 PM
  • Fri, Feb. 12, 9:13 AM
    • Baidu (NASDAQ:BIDU) has received a non-binding offer from CEO Robin Li and Qiyi.com CEO Yu Gong to acquire Qiyi for an enterprise value of $2.8B on a cash-free and debt-free basis. Baidu, which owns 80.5% of Qiyi, has formed a special committee to review the offer.
    • The proposal envisions Qiyi, a top player in the Chinese online video market along with Youku Tudou and Tencent, remaining "a strategic partner" to Baidu following a sale. Last year, Alibaba struck a deal to buy Youku Toudu that valued the latter at $3.7B net of cash.
    • BIDU +4.1% premarket to $146.95. Nasdaq futures are up 1%. Baidu's Q4 report arrives on the afternoon of Feb. 25.
    | Fri, Feb. 12, 9:13 AM | 2 Comments
  • Fri, Jan. 22, 7:57 AM
    • Nomura has upgraded #2 Chinese e-commerce firm JD.com (NASDAQ:JD) to Buy, and hiked its target by $8 to $35. Online travel leader Ctrip (NASDAQ:CTRP) has been started with a Buy rating and $50 target. Search giant Baidu (NASDAQ:BIDU) has been downgraded to Neutral.
    • Regarding Ctrip, Nomura's Jialong Shi calls the company the best proxy for China's booming online travel agency market over the next decade, and deems it well-positioned to take advantage of industry growth thanks to its dominant market share and track record of execution.
    • JD +3.8% premarket to $27.70. CTRP +2.4% to $43.95. Both companies have seen their share of pain as global equity markets tumbled this month (with Chinese markets among the hardest-hit).
    • Baidu is brushing off the Nomura downgrade: Shares are up 1.1%. Nasdaq futures are up 1.9%.
    | Fri, Jan. 22, 7:57 AM | 1 Comment
  • Thu, Jan. 7, 2:00 PM
    • Hammered three days ago as U.S. and Chinese markets tumbled, the story is much the same today for U.S.-traded Chinese tech firms. The Nasdaq is down 2.7%, and the Shanghai and Shenzhen exchanges respectively fell 7% and 8.3% overnight amid an ongoing selloff in the yuan, which now trades at 6.59 per dollar.
    • The Guggenheim China Tech ETF (CQQQ -4.7%) is now down 8% in 2016. It's still 30% above an August low of $25.36.
    • Internet giants Baidu (BIDU -7.1%) and Alibaba (BABA -6.5%) are among the names seeing steep losses. Others include Sina (SINA -6%), Weibo (WB -8.5%), Qunar (QUNR -12.4%), JD.com (JD -6.4%), ChinaCache (CCIH -9.6%), Jumei (JMEI -8.7%), Zhaopin (ZPIN -5.7%), Baozun (BZUN -7.4%), NQ Mobile (NQ -5.8%), and Momo (MOMO -6.1%). Over in Hong Kong, messaging/gaming leader Tencent (OTCPK:TCEHY) fell 4%.
    • ETFs: QQQC, KWEB, EMQQ
    | Thu, Jan. 7, 2:00 PM | 16 Comments
  • Mon, Jan. 4, 5:39 PM
    | Mon, Jan. 4, 5:39 PM
  • Dec. 29, 2015, 2:05 PM
    • China's Caixin.com reports Baidu (BIDU +1.1%) seeks $300M-$500M in funding for its Baidu Takeout Delivery online-to-offline (O2O) services platform, with the goal of using the funds to turn Takeout (provides ordering/delivery services for local goods) into an "intra-city on-demand logistics platform." The funding round is expected to be finished in January.
    • Baidu reportedly expects Takeout GMV to total RMB8B ($1.23B) in 2015, and grow to RMB25B ($3.85B) in 2016. The platform topped 1M daily orders in September, with 26% fulfilled by Baidu's delivery team. It served 109 cities and 16M users as of October; merchant count stands at 187K.
    • In June, Baidu said it planned to spend $3.2B over the next three years to grow its O2) business, which competes against platforms from Alibaba and market leader Meituan-Dianping (Pending:MEIT). CEO Robin Li has suggested the willingness of China's mobile users to directly access mobile apps (and bypass Baidu search) to use O2O platforms is partly behind Baidu's O2O investments.
    • Caixin reported earlier this week Alibaba is investing $1.25B in online food delivery service Ele.me. Alibaba and Alipay parent Ant Financial have already committed nearly $1B to a local services JV called Koubei.
    | Dec. 29, 2015, 2:05 PM
  • Dec. 16, 2015, 2:18 PM
    • Believing Baidu's (BIDU -0.1%) restructuring will enable the company to "focus on key resources and improve operational efficiencies," Credit Suisse's Dick Wei has hiked his target by $41 to $251, while reiterating an Outperform.
    • The restructuring features the creation of a Financial Services Group that combines Baidu Wallet with the company's consumer finance and Internet securities offerings. It also includes moving the Baidu Tieba online community service and Baidu's mobile gaming ops into a Mobile Service Group, moving the hao123 directory into a Search Service Group, having Baidu's marketing, PR, and government relations teams report to the GM of the company's Emerging Business Group, and moving the company's music, video, literature, and online lottery businesses into a common department.
    • Wei also notes Baidu's Nuomi group-buying platform (central to Baidu's O2O efforts) continues gaining traction: He estimates Nuomi, which competes against market leader Meituan-Dianping, has 20.1% of the market.
    • Shares are down 12% YTD. They trade for 31x a 2016 EPS consensus of RMB41.93 ($6.47).
    | Dec. 16, 2015, 2:18 PM | 5 Comments
  • Dec. 10, 2015, 2:39 AM
    • Chinese Internet search giant Baidu (NASDAQ:BIDU) is joining the race to develop autonomous cars, with plans to field its first such vehicles in China within three years.
    • The cars will operate on fixed routes or within set urban areas, and are equipped with laser radar, sensors and cameras, as well as mapping data and "deep-learning" technology.
    • The move marks the latest tech giant jumping into the hot driverless vehicle market.
    • Previously: Samsung enters driverless car market (Dec. 09 2015)
    | Dec. 10, 2015, 2:39 AM | 2 Comments
Company Description
Baidu, Inc. engages in the provision of internet search solutions and online marketing solutions. The company also operates an e-commerce platform with an online payment tool, develops and markets web application software, and provides human resource related services. Its products include search... More
Sector: Technology
Industry: Internet Information Providers
Country: China