SAN FRANCISCO (MarketWatch) – Shares of Chinese Internet search giant Baidu Inc. rose 4% Monday, following a pair of upgrades by Wall Street analysts related to the likelihood of local rival Google Inc. pulling out of direct competition.
“The possibility of Google leaving China is increasing instead of decreasing, which would benefit Baidu tremendously,” Susquehanna Financial Group analyst C. Ming Zhao told clients in a research note published Monday.
Full story: Baidu shares regain momentum on Google flap – MarketWatch