S&P REITERATES SELL OPINION ON ADSS OF BAIDU INC. (Standard & Poor's) According to an unconfirmed Reuters report, the U.S. and E.U. are expected to soon file a WTO case against China. We think this would be a negative for BIDU. Many BIDU customers are Chinese exporters that could be adversely impacted by uncertainties related to trade-related tensions. Moreover, such an action could raise concerns about Chinese equity investments. Also, an unconfirmed 6/22 Bloomberg story indicates BIDU is looking at acquisitions to expand, and we think this could signal concerns about growth and lead to greater risk. With a P/E of 58X, we see BIDU as overvalued.
dont be sucked into this by increasing stock price with very little volume. for 3 days now
I have followed Baidu since its IPO and have no knowledge they are exporting raw materials. Even if the unconfirmed reports turn out to be true, will someone tell me why that would affect Baidu. I think some of the motive to post this is to drive stock price down. I would be cautious about shorting on this news. This several day old news apparently had no effect on the close Friday. Just more of the stuff you see on this board.
The story posted is true. You can find it if your brokerage firm has research and gives you access to Standard and Poors. I looked up the latest Standard and Poor's report, and low and behold there it was in the notes section. The reason your not finding it on the all powerful google is google can't index something that is not public. Thanks for posting that for all to see.