BIDU - Baidu, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
97.63
-4.19 (-4.12%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Previous Close101.82
Open98.50
Bid0.00 x 800
Ask0.00 x 1200
Day's Range96.33 - 99.12
52 Week Range82.00 - 186.22
Volume3,767,047
Avg. Volume4,796,404
Market Cap33.765B
Beta (5Y Monthly)1.74
PE Ratio (TTM)7.61
EPS (TTM)12.83
Earnings DateMay 13, 2020 - May 17, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est1,035.55
  • The Hottest Startup Of 2020 Is Cleaning Up Your Commute
    Oilprice.com

    The Hottest Startup Of 2020 Is Cleaning Up Your Commute

    Uber and Lyft may have paved the way for ride-sharing applications, but one small Canadian company is looking to take your commute to the next level

  • Moody's

    Baidu Inc. -- Moody's announces completion of a periodic review of ratings of Baidu Inc.

    Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Baidu Inc. Hong Kong, March 25, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Baidu Inc. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.

  • Is Baidu Inc. (BIDU) Stock Undervalued Right Now?
    Zacks

    Is Baidu Inc. (BIDU) Stock Undervalued Right Now?

    Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

  • Buy 5 China Stocks to Tap the Country's Recovery From Coronavirus
    Zacks

    Buy 5 China Stocks to Tap the Country's Recovery From Coronavirus

    While the contagion will hurt China's first-quarter GDP growth in all probability, government stimulus measures will most likely aid the coronavirus-hit economy recover in the subsequent quarters.

  • Alphabet's Google Launches Coronavirus Website in the U.S.
    Zacks

    Alphabet's Google Launches Coronavirus Website in the U.S.

    Alphabet's (GOOGL) Google launches a coronavirus website in the United States in a bid to educate people about the deadly illness and thereby slow the spread of the virus.

  • Business Wire

    Baidu Collaborates with Aardman to Promote "A Shaun the Sheep Movie: Farmageddon"

    Baidu, Inc. (Nasdaq: BIDU) and multi-award-winning animation studio, Aardman, have today announced a new collaboration to bring characters from Aardman’s newest feature film "A Shaun the Sheep Movie: Farmageddon" to Facemoji Keyboard users in the United States and Baidu IME users in China.

  • Bloomberg

    Alibaba Pitches Diagnostic Tool to Europe in China Outreach Move

    (Bloomberg) -- Alibaba Group is offering Europe’s embattled health systems a cloud-based coronavirus diagnostic tool it says it has successfully tried in China’s hospitals.The move by billionaire co-founder Jack Ma’s technology giant comes amid a bigger push by China to promote its efforts to contain the pandemic that started in the city of Wuhan and was left undiagnosed for a few weeks before spreading to the rest of the world. The company said it presented its machine-learning software for chest scans to health-care representatives in France and Italy.Alibaba’s efforts come as China and its top technology companies step up their outreach in Europe, showcasing virus-diagnosis and analysis tools. Telecoms giant Huawei Technologies said it offered Italian hospitals video conferencing and wireless connectivity capabilities. Internet search engine Baidu is proposing an algorithm to analyze the virus’s biological structure.As Europe becomes the epicenter of the virus, Beijing’s diplomatic and material efforts in the fight against the outbreak coincide with what’s seen as an attempt by the Trump administration to distance itself from the region.“Alibaba and other private companies are enrolled by China’s government in its long term plan: show their ability to be an ally for Europe, and pass the message that the U.S. is failing to help them,” said Antoine Bondaz, a researcher at the Strategic Research Foundation in Paris.France wouldn’t refuse the help being offered, and that if Alibaba wanted to contribute to research and diagnosis it could be allowed to, a French government official said, declining to be named in line with internal policy. The health ministry said it hasn’t received a proposal from Alibaba, adding that the “techniques have not been validated.” The diagnostic tool is also seen as costly and time-consuming.Alibaba, which has been expanding its European footprint in the payments and retail sectors, claims its software, developed at its research center called Damo, can diagnose the COVID-19 virus quickly and with 96% accuracy. The company says it has tested the product in China on 5,000 patients.Artificial intelligence-powered scans have been increasingly used in hospitals, and companies like Alphabet Inc.’s Google have developed data-learning solutions to help doctors diagnose diseases like cancer.In Europe, no private company or research lab has come forward with a broad diagnosis solution so far. Atos SE, the big data and cybersecurity company, said it has offered computing capabilities to reproduce and model the 3D atomic structure of the virus to labs in Spain and France.In the U.S., Alphabet Inc.’s health-care unit Verily ran tests for about 20 people on its first day screening the virus on Tuesday in California. Verily is a questionnaire-based diagnostic tool. Potential patients answer questions to determine if they need testing and are then redirected when required to Verily’s two testing sites where another sample is taken, Bloomberg reported.Meanwhile, in Italy, Huawei said it donated hospitals in Milan protective suits and 200,000 masks. Thomas Miao, chief executive officer of Huawei Italy, said the company also offered equipment for wireless networks to about 10 temporary hospitals and said it’s working with partners to create a video-conferencing platform for a real-time connection between hospitals.Alibaba said it shipped two million masks to the continent through Belgium on Friday.On Wednesday, the company published a “digital handbook” to “share their learnings from screening, to diagnosis and treatment of patients who contracted COVID-19, as well as sanitation and facility management.” It also proposed a cloud-based information sharing platform for doctors.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • China's Internet Stocks Can't Hide From This Virus
    Bloomberg

    China's Internet Stocks Can't Hide From This Virus

    (Bloomberg Opinion) -- As recently as a month ago, investors in China’s internet stocks were clutching on to the belief that these companies would sail through the coronavirus epidemic unscathed.Alibaba Group Holding Ltd., for example, was trading near historic highs despite the e-commerce giant’s chief financial officer admitting days before that its biggest business would decline as a result of the squeeze on consumer spending. By the time Baidu Inc. reported two weeks later, shares of the search-engine provider had lost 11.7%, while those of Alibaba were down 6.4% and social media powerhouse Tencent Holdings Ltd. had slipped 6.2%.Just as investors should have known in mid-February that there was trouble ahead, they’d be well-advised to look at the reality that’s presented to them now and be just as circumspect. China may have gotten past the worst of Covid-19, but the world is just starting to grapple with it and a major economic shock is looming. Now, as we digest Tencent’s fourth-quarter numbers and muddy outlook, these stocks have continued to drop. As have group-buying outfit Pinduoduo Inc. and internet companies Sina Corp. and Weibo Corp.Yet despite declines of a third or more in market value, some of China’s internet darlings are trading at levels seen as recently as three months ago. Tencent, for example, is back where it was Dec. 5. This indicates that investors aren’t pricing in a big economic jolt, but merely a minor bump on the highway of fast growth and climbing profits.In its investor conference call late Wednesday, Tencent didn’t give explicit details on what to expect this quarter. The company did note that the payments business, now one of its fastest-growing units, will post a drop in revenue, offset by a reduction in marketing costs. By comparison, Baidu, Weibo, and Sina all gave specific sales guidance — each predicted declines of 15% to 20% from a year earlier.It’s clearly going to be a tough first quarter, but executives spent much time on their conference calls talking up their future prospects in the belief that this is a minor blip. Robin Li, Baidu’s chairman and chief executive, defended his optimism by claiming that expenditure will merely be delayed: “If you plan to get married, you are still going to marry. If you're trying to buy a car, you are still buying a car.”I can’t help wondering if these business leaders are looking too closely at China’s Covid-19 case count, and correlating a decline in new patients to an immediate rebound in revenue. Certainly, the mood on the ground has brightened and workers are returning to their posts.However, they may not sufficiently be taking on board that the disease has gone global. The disparate attempts in Europe and the Americas to bring it under control mean that any resolution won’t come quickly. It may be the case that with their revenue coming almost exclusively from domestic consumers, they believe a wider meltdown won’t cause much pain.That may be a little naive. Exports account for an important portion of China’s gross domestic product and occupy a significant part of its labor force. Foxconn Technology Group, for example, is the largest private employer in China and gets more than half its revenue from Apple Inc. If orders at these businesses dry up, Chinese consumers will need to reduce expenditure. Last year, I noted that what may save Chinese internet companies is their shift to a post-growth era by trimming costs such as marketing, which some pragmatic executives have done. They’re going to need to adapt again, this time to reflect a world that truly is connected, and where an external shock could quickly become a local problem. Chinese tech companies may think they’ve got through the worst of the storm. They’d better brace themselves for the fact that there is nowhere to hide.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • GOOGL, MSFT & Others to Watch in Fight Against Coronavirus
    Zacks

    GOOGL, MSFT & Others to Watch in Fight Against Coronavirus

    Strong endeavors of technology companies like Alphabet (GOOGL), Microsoft and others to combat COVID-19 remain noteworthy.

  • Is Baidu Stock A Buy Right Now? Here's What BIDU Stock Chart, Earnings Show
    Investor's Business Daily

    Is Baidu Stock A Buy Right Now? Here's What BIDU Stock Chart, Earnings Show

    Baidu controls 75% of internet search in China. Here is what the fundamentals and technical analysis say about buying BIDU stock now.

  • Investopedia

    Chinese Stocks Outperform as Virus Slows

    Chinese stocks have outperformed most markets so far this month. Position for the trend to continue with these trading ideas.

  • Reuters

    JD.com hires banks for a Hong Kong listing as early as mid-year - sources

    Chinese e-commerce retailer JD.com Inc has hired Bank of America and UBS to work on a second listing in Hong Kong, the latest to join the queue of Chinese companies expected to follow Alibaba to trade closer to home, two people with direct knowledge told Reuters. Rival Alibaba warned in mid-February of a drop in revenues at its key e-commerce businesses in the first quarter as the coronavirus sweeping China hits supply chains and deliveries. Alibaba raised $12.9 billion in Hong Kong in November, which was the city's largest deal since 2010 and the world's biggest ever cross-border secondary listing, prompting a number of US-traded Chinese companies to follow suit, including online travel giant Ctrip and internet companies NetEase Inc and Baidu Inc.

  • Should Baidu, Inc.’s (NASDAQ:BIDU) Weak Investment Returns Worry You?
    Simply Wall St.

    Should Baidu, Inc.’s (NASDAQ:BIDU) Weak Investment Returns Worry You?

    Today we'll look at Baidu, Inc. (NASDAQ:BIDU) and reflect on its potential as an investment. Specifically, we'll...

  • PR Newswire

    Baidu, Inc. Files Its Annual Report on Form 20-F

    Baidu, Inc. (the "Company") (NASDAQ: BIDU), the leading Chinese language internet search provider, today announced it filed its annual report on Form 20-F for the fiscal year ended December 31, 2019 with the Securities and Exchange Commission on March 13, 2020. The annual report can be accessed on the Company's investor relations website at http://ir.baidu.com.

  • Uber's Green Competitor Is Riding A $30 Trillion Mega-Trend
    Oilprice.com

    Uber's Green Competitor Is Riding A $30 Trillion Mega-Trend

    Millennials are slowing taking control of the market, and they’re looking for companies with a focus on greener policy

  • Why This Analyst Recommends Buying Amazon, Baidu, Facebook And Uber Following COVID-19 Battering
    Benzinga

    Why This Analyst Recommends Buying Amazon, Baidu, Facebook And Uber Following COVID-19 Battering

    COVID-19 has triggered an across-the-board sell-off in financial assets, and one of the hardest hit sectors among equities is the Internet space. One analyst at Mizuho Securities thinks the sell-off in the space may be overdone.The Tech Analyst James Lee has the following ratings and price targets for the Internet stocks in his coverage universe: * Amazon.com, Inc. (NASDAQ: AMZN): Buy, $2,400 * Facebook, Inc. (NASDAQ: FB): Buy, $240 * Baidu Inc (NASDAQ: BIDU): Buy, $175 * Uber Technologies Inc (NYSE: UBER): Buy, $50 * Trip.com Group Ltd (NASDAQ: TCOM): Buy, price target reduced from $40 to $35The Thesis The impact of COVID-19 on stocks is transitory but given the uncertainty of an unknown epidemic, it is tough to call the bottom, Lee said. However, he recommends owning companies that either showed strong underlying trends in the fourth quarter or are in a position to benefit from travel restrictions, working remotely and a preference to stay in.Specifically, Lee recommends buying Amazon, Facebook, Baidu and Uber, premised on his belief that the sell-off has exceeded their respective revenue exposure to the COVID-19.Sell-Off Renders Amazon Attractive Amazon is expected to benefit from increased demand for healthcare, grocery and consumer packaged goods products, Lee said. The analyst also sees opportunity for upside due to the extra day from leap year."With the stock selling off nearly 15% over the past two weeks, we view it attractive trading at 11.5x FY22E EBITDA, well below its estimated CAGR of 21%," Lee wrote in the note.See Also: Why This Netflix Analyst Says Coronavirus Outbreak Is Negative For Streaming PlatformAd-Boost Likely For Facebook Facebook's exposure to travel is limited to low-single digits, Mizuho said. The firm expects the company's ad business to receive a shot in the arm from increased demand for games, entertainment and ecommerce.While noting that the stock has sold off nearly 20% over the last two weeks, the firm said it now trades at merely seven times its estimated EBITDA for 2022, well below its compounded annual growth rate, or CAGR, of about 20%.Baidu's Underlying Trends Strong Baidu's fourth quarter revealed strong underlying trends, with the company beating core EBITDA estimates by 20% and experiencing price growth due to easing competitive pressure, Lee said."Engagement was strong during the epidemic for healthcare, Maps, and Q&A platform," he added.The analyst is of the view the stock is undervalued.Uber's Current Price Values Only Ride Business Uber shares have retreated by over 30% and therefore is in oversold territory, Lee said. The analyst estimates airport-related trips could impact EBITDA by only 10%.Meanwhile, the analyst expects increased demand in food delivery to reduce promotional spending, therefore cutting EBITDA losses."The current price implies value from only Rides business, with free call options in food delivery and freight businesses, in our view," Lee wrote.Trip.com's Guidance At Risk Due to Travel Restrictions Lee believes Trip.com's guidance for the first quarter and the consensus estimates for 2020 are clearly at risk due to travel restrictions imposed in the wake of the COVID-19 outbreak. The analyst expects a slow recovery in online travel, likely lagging the ecommerce and ad recovery by a quarter.Assuming a full recovery only in the first quarter of 2021, Mizuho reduced its 2020 revenue growth estimate for Trip.com.Latest Ratings for AMZN DateFirmActionFromTo Feb 2020Aegis CapitalMaintainsBuy Feb 2020CitigroupMaintainsBuy Jan 2020CFRAMaintainsBuy View More Analyst Ratings for AMZN View the Latest Analyst Ratings See more from Benzinga * WhatsApp Payments To Launch In India, BofA Says Monetization Will Take Time * Twitter Analyst Sees Risk To Q1 Guidance, But Expects 'Buying Opportunity Ahead' * Microsoft Analysts See 20% Upside Following Across-The-Board Q2 Beat(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Barrons.com

    5 Internet Stock Picks to Buy Amid the Chaos

    Mizuho Securities analyst reiterated his Buy ratings on the companies, saying the impact of the coronavirus outbreak will be transitory.

  • Barrons.com

    Rob Arnott: U.S. Stocks’ Drop Doesn’t Change the Ugly Long-Term Outlook. Buy Emerging Markets.

    The investment manager says emerging-markets stocks are at half the cyclically adjusted price-earnings ratio of U.S. equities, while emerging-market value stocks are even cheaper.

  • Is Baidu, Inc. (BIDU) A Good Stock To Buy?
    Insider Monkey

    Is Baidu, Inc. (BIDU) A Good Stock To Buy?

    Coronavirus is probably the 1 concern in investors' minds right now. It should be. We estimate that COVID-19 will kill around 5 million people worldwide and there is a 3.3% probability that Donald Trump will die from the new coronavirus (read the details). In these volatile markets we scrutinize hedge fund filings to get a […]

  • JPMorgan Sees Compelling Value in These 3 Stocks
    TipRanks

    JPMorgan Sees Compelling Value in These 3 Stocks

    The premise is simple; Investors are after plentiful returns. What is entirely more complicated is the execution of the idea. Macrotrends, unforeseen headwinds, internal conflicts and disappointing quarterly statements, all have the potential to derail what at first appeared like a winning choice of investment.So, how to know which of the 3000’s of stocks Wall Street has on offer, present the most compelling opportunities? There multiple ways to find out, of course, but a well-trodden path is to follow the trail laid down by those in the know.To cut through the fog, banking giant J.P. Morgan has been releasing reports on three stocks that it believes will bring returns to investors despite a cloudy economic horizon. Interestingly, its research arm sees each surging by at least 20% in the year ahead.Running each stock through the Stock Screener tool at TipRanks, we’ve confirmed that J.P. Morgan is in the majority on Wall Street in recommending these equities. Let's take a closer look.Beam Therapeutics (BEAM)Fresh out of the box, we’ll start with Beam Therapeutics. Listed publicly only last month, this biotech developing precision genetic medicines, has been turning heads on the Street. Beam is up 26% above its offering price of $17, and some believe that further appreciation lies ahead.The company is building a diverse portfolio of treatments for various diseases, including sickle cell disease (SCD), acute myeloid leukemia (AML), and liver diseases. While still in early stages of research, the company’s unique approach is what could set it apart in the long run.Beam’s novel base editing technology differs from other gene editing CRISPR-based platforms in that it can accurately target the DNA’s single base pair and edit the DNA letter without cutting the molecule. CRISPR-based platforms, on the other hand, make double-stranded cuts to DNA which count on cellular mechanisms to repair the molecule and complete the edit, and therefore, are less accurate and efficient.J.P. Morgan’s Eric Joseph notes Beam’s “attractive commercial opportunity in likely lead SCD program, with best-in-class potential within the gene therapy landscape.”The 4-star analyst took the plunge and initiated coverage of the promising biotech with an Overweight rating and a price target of $31. With Beam currently trading at $23.55, a 30% gain could be in place should Joseph’s thesis play out. (To watch Joseph’s track record, click here)Joseph notes the high level of unmet need for the 25,000 patients in the US suffering with severe SCD. Beam’s proprietary base-editing gene therapy platform has the potential to address this issue.Joseph said, “Looking to sickle cell disease (SCD) as the likely lead indication from the ex vivo cell therapy portfolio (expected IND in 2021), we see an attractive ~$1.5B US peak opportunity, with differentiated manufacturing and clinical potential. Combined with a diverse array of programs in heme-onc, liver-mediated disease and retinopathy, we see an attractive setup for long-term value creation from the platform, with current share levels ascribing conservative success assumptions to the earlier stage pipeline.”The Street concurs. 3 additional Buy ratings add up to a Strong Buy consensus rating for BEAM. The average price target is $31, and implies upside movement of 34%. (See BEAM stock analysis on TipRanks)1Life Healthcare (ONEM)The next company on our list is another which only recently went public. 1Life Healthcare has been on the market since the end of January and made an instant splash, surging by 58% on its first day. The stock has pulled back since, but the company’s disruption of the primary care market could provide further upside in 2020, according to J.P. Morgan’s Lisa Gill.1Life (or One Medical as it is also known) is a membership-based primary care platform. By paying a $200 annual fee, members get access to more than 70 clinics across the country and 24hr digital health services, including telehealth appointments.According to fortune business insights, the global telehealth market size was valued at $49.8 Billion in 2018 and is projected to reach $266.8 Billion by 2026, exhibiting a CAGR of 23.4% between 2018 and 2026. As the demand for telehealth services grows, so could 1Life’s customer base.As with the majority of early stage healthcare technology companies, 1Life Healthcare currently operates at a loss. The primary care disruptor, though, has some heavyweights backing it up; Carlyle Group and Alphabet's Google Ventures are investors, with the latter also a big client, providing 10% of 1Life’s revenue.J.P. Morgan’s Lisa Gill foresees “significant addressable market opportunity with substantial runway for growth.”The 5-star analyst notes, “One Medical's unique offering is highlighted by a superior in-office patient experience vs. traditional primary care (convenient and inviting offices, longer, more high-touch visits), enhanced access (same/next day appointments, 24x7 digital access and coordination with health system partners for specialist care). The company delivers high quality care based on a longitudinal approach that treats patients more holistically, and can drive lower costs through fewer ER/urgent care visits, the avoidance of unnecessary specialist visits and also via improved employee productivity.”Gill pulls the trigger on ONEM with an Overweight rating and a $28 price target, indicating potential upside of 30%. (To watch Gill’s track record, click here)Out on the Street, 1Life receives a Moderate Buy from the analyst consensus, based on 5 Buys and 3 Holds. Should the average price target of $26.71 be met over the coming months, investors stand to pocket a 24% gain. (See 1Life stock analysis on TipRanks)Baidu Inc (BIDU)Shares of Baidu, or as it is commonly referred to in the west, China’s Google, have tumbled nearly 10% in the past 30 days. According to J.P. Morgan’s Alex Yao, the recent sell-off is too much of a good opportunity. The 4-star analyst believes the share price weakness and increasingly clear visibility on 2020 financials suggests a favorable risk-reward scenario for Baidu.Baidu’s recent fourth quarter print was strong; Revenue of 28.9 billion yuan ($4.15 billion)indicated an increase by 6% year-over-year and came in close to the high end of Baidu’s guidance. EPS of 26.54 yuan ($3.81), more than doubled from the same quarter last year, and beat the analysts' expectations of $3.66 EPS. Subscriber numbers for Baidu’s streaming business, iQiyi, continued to rise, too; up 22% year-over-year with total subscribing members reaching 106.9 million.Concerns about the company's advertising outlook, along with the unknown impact the coronavirus will have on future earnings have been noted as the likely reasons for the recent pullback. Yao notes, though, that while search engine marketing has entered a mature stage and, long-term, will probably lose ad market share to feed ad operators, the increased clarity provided by Baidu is the clincher.“The value of the 4Q19 print to investors is not in revealing the strength of the 2020 revenue outlook. Rather, the weak but more certain 1Q20 revenue guidance narrows the range of the possible revenue growth rate in 2020 (JPMe Baidu core revenue-2% in 2020 vs. +10% prior to the print). The reason that a weaker revenue growth outlook makes us more positive on the share price is a much stronger visibility, which plays a more important role in determining Baidu’s core multiple,” he said.Accordingly, the 4-star analyst upgraded his rating from Neutral to Overweight along with a hiking up of the price target. The figure rises from $130 to $150 and presents potential upside of 23.5%. (To watch Yao’s track record, click here)All in all, 8 Buys and 3 Holds provide Baidu with a Moderate Buy consensus rating. At $159.75, the average target price could provide upside of 35%, should the figure be met in the year ahead. (See Baidu stock analysis on TipRanks)

  • A New Number to Watch for China’s Economy: The Resumption Rate
    Bloomberg

    A New Number to Watch for China’s Economy: The Resumption Rate

    (Bloomberg) -- Economists searching for clues on how fast the world’s second-largest economy is getting back on its feet are starting to generate a new must-watch number: the resumption rate.As the Chinese government pushes factories to re-start production while still ensuring strict virus control, a reading on how much of normal activity is back matters for both domestic output and the global economy.Right now, estimates are ranging between just under 60% to more than 70%.Since last month, China International Capital Corporation’s research team has been releasing a proxy of production resumption on a near-daily basis. With the latest reading at 70.7% on March 3, the so-called CICC Daily Production Activity Tracker aggregates a set of data including coal consumption, labor migration, freight logistics and urban civil transportation.Bloomberg Economics has also been releasing a weekly estimate since Feb 18. The most recent report showed that China’s economy is running at 60%-70% of its normal level in the last week of February, up from 50%-60% the previous week.“We base our estimate on the best available numbers, a close reading of the news, and conversations with contacts across the country,” according to Bloomberg economist David Qu. He collected data on passenger transport, daily average trading volumes in foreign exchange and construction materials, provincial releases on industrial enterprises restart rate and local media reports about staff availability.Tech firm Baidu Inc., whose migration index of people flows has been widely used by media and researchers since the onset of the outbreak, announced its own resumption proxy last week. Using a big dataset from its mapping function, the firm compared active working population with a baseline of December. The latest reading for the national index stood at 57.4% on March 3. On a city level, Shanghai outperformed Guangzhou, Shenzhen and Beijing in the pace of getting back to work.The government from time to time will throw out numbers about the proportion of firms that have resumed work, though often without accounting for the capacity they are operating at. There have also been cases where data were doctored to meet official expectations.To contact Bloomberg News staff for this story: Miao Han in Beijing at mhan22@bloomberg.netTo contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, James MaygerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Moody's

    Baidu Inc. -- Moody's: Baidu's 2019 results better than expected; but slower economic growth to add uncertainty in 2020

    Moody's Investors Service says that Baidu Inc.'s (A3 positive) 2019 results were slightly better than Moody's expectations, but will not immediately affect the company's A3 issuer rating and positive rating outlook. "We expect Baidu's revenue growth will be moderated by China's slowing economic growth, which could stall an improvement in its leverage," says Lina Choi, a Moody's Senior Vice President. "But the company's solid market position in online search advertising and strong net cash position will provide some buffers against short-term disruptions," adds Choi, who is also Moody's Lead Analyst for Baidu.

  • Alphabet Fuels Autonomous Vehicle War Amid Coronavirus Woes
    Zacks

    Alphabet Fuels Autonomous Vehicle War Amid Coronavirus Woes

    Alphabet (GOOGL) gains investor confidence with the latest Waymo funding despite the coronavirus outbreak, which intensifies competition in the self-driving space.