Baidu Shares Fall as Competitor Qihoo Launches Mobile Search Engine
19 Novembre 2012 - 2:20PM
Marketwired
Chinese stocks slumped last week after China announced the
appointment of new government leaders. Bloomberg's Shanghai
Composite Index (SHCOMP) fell to a seven-week low. "The composition
of the top leaders indicates a go-slow approach to reforms of the
financial markets and the economy and not in an aggressive way as
expected by the market," said Dai Ming, a Hengsheng Hongding Asset
Management Co. fund manager. The Paragon Report examines investing
opportunities in Chinese Internet stocks and provides equity
research on Baidu.com, Inc. (NASDAQ: BIDU) and Qihoo 360 Technology
Co. Ltd. (NYSE: QIHU).
Access to the full company reports can be found at:
www.ParagonReport.com/BIDU www.ParagonReport.com/QIHU
China's soft economy, which is set to grow at the slowest pace
in over a decade, has caused a slowdown in China's advertising
market. Major Chinese companies such as Baidu, Renren, and Tencent
have recently warned of slowing advertising revenue growth in the
fourth quarter.
"The absence of the Olympic Games event and decelerating
economic growth in China may slow revenue growth rates for the
online-advertising industry as a whole, including our own
online-advertising business," Tencent said.
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Internet stocks so investors can stay ahead of the crowd and make
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Baidu currently accounts for 78.6 percent of the search engine
market in China, followed by Google and their 15.4 percent market
share. Qihoo 360 Technology entered the market on August 16, and
has recently launched a version of their So.com search engine for
mobile devices according to Beijing Business Today. Baidu has
recently forecasted revenues in the fourth quarter to range from
6.16 billion yuan ($987 million) to 6.35 billion yuan, its slowest
quarterly sales growth since 2009.
"We view the guidance as reflection of a more challenging macro
environment and weaker advertiser sentiment," Barclays Plc analyst,
Alicia Yap, wrote in a recent report. "The launch of Qihoo's search
service might also have a slight impact."
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compensated by other third party organizations for advertising
services. We act as an independent research portal and are aware
that all investment entails inherent risks. Please view the full
disclaimer at: http://www.paragonreport.com/disclaimer
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