Baidu Up 11% After Huge Q2 Beat

Baidu Inc (ADR) BIDU shares are trading higher by $22.50, 11 percent, at $223.50 in Friday's session.

The catalyst the rally in the Chines language internet search provider is a Q2 EPS beat of 16 cents along with a slight sales beat.

After a much higher open, Baidu had a brief retreat to $208.80 before continuing its move higher. It has continued to make new highs for the session, with current one standing at $223.80 as of 12:15 p.m. EST. That marks the highest level for the stock since April 2015, when it peaked at $223.96.