Baidu Wins on Google Exit (BIDU)

Posted in pre-market 
January 13th, 2010

Baidu. Inc. (NASDAQ:BIDU) is soaring this morning after yesterday’s announcement that Google Inc. (NASDAQ: GOOG) is pulling out of China.  This would effectively leave Baidu with more than just the lion share of online web search and advertising revenues in China. Baidu closed at $386.49 yesterday, but shares are up 14.6% at $443.00 on over 300,000 shares as of 8:07 AM EST.  The stocks 52-week range is $105.00 to $443.25.  Average volume is 1.8+ million shares, but that should be blown through rather quick.  The open interest is not 10,000 in any strikes fr JAN10 CALLS yet, but the open interest is over 1,000 in each strike from $390 to $500…. Stay tuned.


Comments are closed