gave back a bunch of $$ on my longs ... CHI-NER PLAYS:EJ 15.98 +0.13 (+0.82%) E-House (China) HoldingsCNTF 2.86 -0.14 (-4.67%) China Techfaith Wireless Comm. EDU 97.64 -0.41 (-0.42%) New Oriental Education BIDU 73.53 -2.11 (-2.79%) Baidu, Inc.(ADR)FINANCIAL: LYG 3.60 -0.26 (-6.74%) Lloyds Banking Group PLC (ADR) TECH/MOBILE PLAYS: TQNT 6.58 -0.21 (-3.09%) TriQuint SemiconductorNVDA 10.05 -0.67(-6.25%) NVIDIA Corporation S 4.56 -0.14 (-2.98%) Sprint Nextel Corporation NATTY PLAYS:UNG 7.61 -0.14 (-1.81%) United States Natural Gas Fund, LP HK 16.62 -0.96 (-5.46%) Petrohawk Energy FSYS 26.97 -0.54 (-1.96%)Fuel Systems Solutions, Inc. $3 HOMMIE: SPF 3.36-0.24 (-6.67%)Standard Pacific Corp.GYPSUM PLAY: USG 12.32 -0.91 (-6.88%)USG Corp.
Thanks for the BIDU pick!
"Baidu's record top and bottom line results reflect the healthy growth of our customer base and continued improvements in monetization efficiency," said Robin Li, Baidu's chairman and chief executive officer. "This quarter's strong performance also underscores the vast Internet market opportunities for us and the growing appreciation for search engine marketing in China."Mr. Li added, "Baidu continues to focus on user experience and has many initiatives on this front to ensure Baidu remains at the center of China's Internet ecosystem."Jennifer Li, Baidu's chief financial officer, commented, "Effective execution resulted in impressive revenue growth and healthy margin improvements for second quarter 2010. Over the next quarters, we will continue to aggressively invest in R&D, sales and infrastructure to drive innovation, enhance monetization and support our growth."
UBS upgraded Baidu (BIDU) to Buy from Neutral based on solid fundamentals following the strong Q2 report and guidance and valuation. The firm raised its price target to $92 from $69.
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