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Baidu, Inc. (BIDU)

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  • Jul. 15, 2013, 10:30 PM
    Baidu (BIDU) is acquiring top Chinese mobile app distributor 91 Wireless from Hong Kong-listed NetDragon and minority shareholders for $1.9B. 91 was estimated to host ~900K Android apps from ~93K developers (#1 in China) at the end of 2012; the company has also developed several popular apps. Baidu is paying steep multiples for rapid growth: NetDragon's mobile ops posted 2012 revenue of $46M, and Q1 revenue of $23.6M (+42% Q/Q and +219% Y/Y). The deal follows Baidu's purchases of video sites PPS and iQiyi, and is another step towards building a Google-like mobile ecosystem ... and perhaps also lowering its search dependence in the face of growing competition and mobile monetization issues. 91 competes with Qihoo's (QIHU) Mobile Assistant app store.
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  • Jul. 15, 2013, 2:34 PM
    Chinese Internet stocks are turning in a good day after the government unveils a new telecom plan promising to increase fiber-to-the-home deployments, improving 3G connectivity, and issue 4G licenses by year's end. YOKU +6.2%. BIDU +4.7%. QIHU +4.8%. DANG +4.9%. YY +9.2%. CYOU +5.2%. China's telecom giants aren't moving much: CHL +0.3%. CHA -0.4%. CHU +1%. (more on China/4G)
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  • Jul. 11, 2013, 1:28 PM
    Baidu's (BIDU +3.4%) Duoku mobile entertainment/content unit has bought mobile gaming portal Ptbus.com, a source tells Marbridge consulting. Baidu has been investing heavily in building mobile apps and related cloud services, with the goal of creating an ecosystem around its mobile search engine (now has100M+ daily users).
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  • Jul. 5, 2013, 11:22 AM
    Google (GOOG +0.6%) had just 2.1% of the Chinese search market in June, down from 4.7% last October, per research firm CNZZ. Though Google's Chinese share has been falling for some time thanks to its decision to shut down Google.cn and redirect visitors to its Hong Kong site rather than censor results, Qihoo's (QIHU +3.4%) decision to make its own search engine the default engine for its browser, and thereby swap out Google, has sped up the trend. Qihoo is now estimated to have a 15.3% share (was 9.6% in Oct.), and Sohu's (SOHU +1.3%) Sogou 8.8% (7.8% prior). Baidu's (BIDU +1.1%) share is believed to have fallen to 69.4% from 73%. (more on Qihoo/Baidu)
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  • Jul. 1, 2013, 2:11 PM
    Qihoo (QIHU +1.9%) is beta-testing a mobile search engine to go with Wi-Fi routers and English-language versions of its 360 PC/mobile security apps, says Stifel, which calls the company "in the midst of an innovation wave" and is raising its PT to $55. The launch of a mobile search engine would amount to additional competition for Baidu (BIDU -1.9%), which now has 100M+ mobile search daily users (monetization is still a work-in-progress). An English version of Qihoo's 360 Mobile Safe app would likely compete with NQ Mobile's (NQ +4.6%) apps. (Baidu PC security app)
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  • Jun. 27, 2013, 9:59 AM
    A roundup of tech ratings changes: 1) BNP Paribas has started Baidu (BIDU +1.6%) at Buy. 2) Longbow has upgraded Seagate (STX +4.1%) and Western Digital (WDC +2.9%) to Buy. 3) Pac Crest has started Synchronoss (SNCR +2.9%) at Outperform. 4) Lazard has upgraded Trimble (TRMB +2.5%) to Buy. 5) BMO and RBC have downgraded Rogers (RCI -1.9%) to Market Perform/Sector Perform, and BMO has also downgraded Telus (TU -2.4%) to Market Perform. However, Stifel has upgraded Telus to Buy. (yesterday). 6) HSBC has upgraded Sohu (SOHU +3.8%) to Neutral. 7) China Mobile (CHL +1.7%) has been upgraded to Neutral by BofA/Merrill. 8) Atmel (ATML +1.4%) has been upgraded to Buy by Lazard. 9) Flir Systems (FLIR +2.1%) has been upgraded to Overweight by Stephens.
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  • Jun. 21, 2013, 2:35 PM
    Already fierce rivals, Baidu (BIDU -0.1%) and Qihoo (QIHU -4.8%) appear set to compete even more. Marbridge Consulting observes Baidu has released a beta version of a PC security/maintenance app called Baidu Guard, which would compete against Qihoo's very popular 360 Safeguard software. The release comes a few months after Baidu unveiled antivirus software that also competes against Safeguard. Qihoo, which often bundles its browser and security software, claimed 457M monthly users for all its products/services as of March. Mobile security software users totaled 275M.
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  • May. 29, 2013, 2:37 PM
    Mobile now makes up 15% of Web traffic, up from 10% a year ago, notes Mary Meeker in her latest Internet Trends Report. Also mentioned: China (BIDU, SINA, SOHU, YOKU) has 564M Web users (42% penetration), with 75% accessing the Web from their phones (71% use PCs); India's Web penetration is only at 11% (137M users); mobile now makes up 12% of U.S. media viewing time (it's 22% in China) and 3% of ad spend, up from 10% and 1% before; YouTube's (GOOG) per-minute video uploads are up 5x since '09; 60% of Facebook (FB) users log in daily, and the site receives 350M daily photo uploads; global smartphone penetration is still only at 21%. (Meeker in 2012)
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  • May. 20, 2013, 10:15 AM
    Chinese Internet stocks jump in response to Qihoo's Q1 beat and very strong Q2 guidance, highlighted by ramping search ad sales and soaring online game revenue. YY +6.5%. RENN +6.8%. NTES +5.5%. BIDU +2.4%. PWRD +3.2%. SOHU +3%. SINA +2.3%.
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  • May. 17, 2013, 11:14 AM
    Take this one with a grain of salt: an "industry source" claims Baidu (BIDU +1.6%) has reached a deal to buy Sohu's (SOHU +2.5%) Sogou search unit for $2B-$2.5B in cash and shares of Baidu's iQiyi online video unit. Though Sohu is rallying, the entire company still only has a market cap of $2.4B, indicating investors are as skeptical of this report as they were of Qihoo deal reports. Acquiring Sogou would pose integration challenges for Baidu, and (given Baidu's dominant Chinese search share) could also draw a regulatory response. (previous)
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  • May. 10, 2013, 9:48 AM
    An upgrade to Buy from Goldman's Piyush Mubayi helps Sina (SINA +2.6%) open higher. Mubayi expects the Alibaba deal to "enable Alibaba to direct [e-commerce] demand to Weibo," thereby improving monetization. Talking more broadly about the Chinese Web services space, he declares Alibaba, Baidu (BIDU), and Tencent (TCEHY.PK) to be in a 3-way leadership battle that "will likely shape the industry landscape over the next 5-10 years." Other recent deals (I, II) also seem to bear that out. Will Baidu make a deal or two to strengthen its social networking hand in this battle? (Jefferies Sina upgrade)
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  • May. 8, 2013, 1:10 PM
    A recent Chinese government proposal to allow local investors to buy stocks traded elsewhere could give a lift to "companies familiar to them," argues Stifel. The firm mentions Baidu (BIDU +3.3%), Qihoo (QIHU +2.1%), Youku (YOKU +1.2%), and Tencent (TCEHY.PK - trades in HK) as beneficiaries. All 3 U.S.-traded names are rallying, as are YY (YY +8.9%), Sohu (SOHU +5.1%), Perfect World (PWRD +1.6%), and Changyou (CYOU +3.1%). Youku fell yesterday after Baidu confirmed it's buying video site PPS, and will integrate it with its iQiyi site. Baidu claims PPS/iQiyi will create China's largest Web video platform in terms of mobile users and viewing time.
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  • May. 7, 2013, 6:40 AM
    Baidu (BIDU) says it will pay $370M to buy the online video business of PPStream. The company plans to fold the business into its iQiyi unit.
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  • May. 6, 2013, 2:30 PM
    Chinese Internet stocks are surging after equities rallied in Shanghai and Hong Kong in spite of a major drop in China's services PMI. In addition to Qihoo (previous), winners include Renren (RENN +12.2%), YY (YY +13.3%), Baidu (BIDU +3.8%), Sina (SINA +2.8%), Sohu (SOHU +3.4%), Changyou (CYOU +4.3%), and Perfect World (PWRD +5%). YY is now up 20% since posting a strong Q1 report on Thursday afternoon; revenue rose 130.5% Y/Y to RMB315M ($50.7M), and EPS of $0.23 beat consensus by $0.06. Revenue is expected to hit RMB330M-340M in Q2.
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  • May. 6, 2013, 11:23 AM
    The TD Ameritrade Investor Sentiment Index rose 0.23 points in March to 5.37, the 4th highest point in its 3-year history, and the best level since June 2011. Customers rotated out of outperforming names like DELL, PG, and HPQ, and into laggards like BIDU and FB.
     
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  • Apr. 29, 2013, 11:28 AM
    Chinese Internet stocks rally following news Alibaba is buying an 18% stake in Sina as it tries to head off competition from Tencent. Youku (YOKU +7%) is the biggest winner, but Baidu (BIDU +2.2%), NetQin (NQ +3.8%), NetEase (NTES +2%), and YY (YY +3.7% - a rival to Tencent's QQ platform) are also having good days. Youku filed its 2012 20-F on Friday.
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Company Description
Baidu Inc is a Chinese language Internet search provider. The Company offers a Chinese-language search platform on its website Baidu.com.