China Stock Baidu Holds Steady Amid Market Decline
Maura Lockwood, Cabot Headline News
February 08, 2010
Among the best-rated Chinese ADRs, China Internet stock Baidu (BIDU) is
holding steady despite the market correction, Investor’s Business Daily
reported.
The Chinese search engine company has been consolidating around its
10-week line for the past 4 weeks, since gapping up 14% in monster
volume on January 13, according to IBD.
Baidu has accelerated its EPS growth for two straight quarters, from
18% to 39% to 41%, and analysts are looking for a 28% rise in Q4 when
results are announced on Tuesday, reported IBD.
The company dominates the Chinese Internet market with a 60% share, and
Google’s potential exit from the Chinese market would make Baidu’s
market share even stronger.
Baidu (BIDU) is a holding in Cabot Market Letter and Cabot China & Emerging Markets Report.
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