Baidu shares fall despite beating earnings estimates. The Chinese tech firm announced it was acquiring the Chinese livestreaming business of JOYY Inc for $3.6 billion.
Shares of Baidu dropped 3.73% to $136.76 at 15:05 EST on Thursday.
The Nasdaq Stock Market went up by 0.59% to $11871.7, on what seems, as yet, a positive trading session on The Nasdaq Stock Market.
Baidu’s last close was $142.07, below its 52-week high of $151.18.
Baidu’s sales growth is 10.9% for the present quarter and 22.8% for the next. The company’s growth estimates for the current quarter and the next are -23.7% and 31%, respectively.
Baidu’s stock is valued at $136.76 at 15:05 EST, under its 52-week high of $151.18 and way above its 52-week low of $82.
Baidu’s worth is above its 50-day moving average of $134.19 and way above its 200-day moving average of $122.63.