Day Trader Alert: Baidu.com (BIDU, GOOG)

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By Douglas A. McIntyre Updated Published
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Baidu_logoBaidu.com, Inc. (NASDAQ: BIDU) is seeing a rather large surge in its shares this morning.  The frequently analogized "Chinese Google" has no news of its own.  But the real Google Inc. (NASDAQ: GOOG) is trading up nearly 10% after beating Wall Street estimates.  Traders are hoping that the slowdown in China also won’t roll over Baidu.com just like what was seen last night at Google.  Baidu.com shares are up roughly 5% pre-market at $236.00.  This is still only about 15% off of its 52-week lows and barely half of its 52-week highs.

So far we have seen almost 10,000 shares trade hands.  It does have stock options, and today is options expiration date.  If the market stays anywhere near stable today, traders will be looking to "the mini-Google" for some trades.

Jon C. Ogg
October 17, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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