| Eugene David ...The One-Minute Pundit |
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Wednesday, October 26, 2005
And in news re the G000,000,000,000,000,000,000,000,000,000,000,000GLE of CHINA:
Baidu posted a third-quarter profit, but its shares plummeted 17% in late action Wednesday. The Beijing-based Internet search outfit made $1.1 million, or 3 cents a share. That's down 29% sequentially but nearly triple the year-ago level. Revenue rose 28% sequentially and 174% from a year ago to $11 million.... Baidu.com went public with a bang on Aug. 5. The stock has spent its public life above $70 after pricing at $27. It rocketing [SIC] as high as $153.98 on Aug. 6, riding two speculative themes: the growing interest among investors in Chinese Internet companies and the rapid growth in search-related advertising, led in the U.S. by Google and Yahoo!. Late Wednesday, Baidu slipped $14.05 to $67. Here's hoping.
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