Baidu Lower In Wild Session

Baidu Inc (ADR) BIDU shares are trading lower by $2.80 at $160.72 in Tuesday's session. The catalyst for the wild session is the announcement the company has lowered its Q2 sales outlook.

After a lower open, it immediately bottomed at $159.13 and began to move higher. The ensuing rally took the issue all the way to $170.12. Since the $10 rally, it has given back almost all of those gains. It hasn't closed under $160 since February 16, when it ended the session at $157.52.