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Technology Stocks : Baidu (BIDU)

BIDU 124.40

+0.5%

3:59 PM EST

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To: manalagi who wrote (1363)	4/30/2010 4:29:44 PM
From: manalagi	Read Replies (1) of 2098

This week's bonehead analyst move goes to Credit Suisse's Wallace Cheung, who downgraded Baidu (Nasdaq: BIDU) shares on Monday, just two days before China's leading search engine was scheduled to post its quarterly financials. Why would an analyst come down on a company with improving fundamentals, after it had obliterated Wall Street's profit targets in each of the three previous quarters? Wednesday night's report was another winner out of Baidu. Revenue grew 60%. Earnings soared 165% to $2.02 a share, blowing past the pros perched at $1.50 a share. The outlook is even sweeter, with Baidu projecting its top line to grow 67% to 70% during the current quarter. Let's revisit the company's report card over the past four quarters. Fiscal Quarter Est. Actual Q2 2009 $1.44 $1.61 Q3 2009 $1.83 $2.07 Q4 2009 $1.69 $1.80 Q1 2010 $1.50 $2.02 Source: Yahoo! Finance, Thomson Reuters. The stock skyrocketed on Thursday after Wednesday night's great earnings report. Valuation concerns are always valid, but they're best kept away from quarterly reports when the trend is this bullish. Keep this table handy, analysts. Refer to it when Baidu steps up to report again in three months.

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