Latest news for Baidu (OTC:BAIDF) Stock

Baidu is the largest internet search engine in China with over 50% share of the search engine market in 2024 per web analytics firm, Statcounter. The firm generated 72% of core revenue from online marketing services from its search engine in 2023. Outside its search engine, Baidu is a technology-driven company and its other major growth initiatives are artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving.

Electric vehicle Photo by Quality Stock Arts on Shutterstock

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The Jiyue 01, an EV resulting from the collaboration between Zhejiang Geely Holding Group Co. and Baidu Inc, was launched on Friday.

Geely And Baidu&#39;s Joint Venture Unveils Jiyue 01 EV, Priced Competitively Below Tesla Model Y

Baidu Inc

While the Company does not provide quarterly guidance, given the significant changes in the Company's business model along with the dynamic nature of its growth and where it is in its fiscal year, it is offering the following comments about the fourth quarter of fiscal 2024:
<ul>
<li>Q4 comparable store sales are expected to be up low to mid-single digits with total sales down mid-single digits due to the 53rd week last year and store closures</li>
<li>Q4 gross margin is expected to be in the range of 39% to 40%</li>
<li>SG&amp;A is expected to be approximately $76 million including the finalization of strategic expenses plus store payroll to support holiday sales</li>
<li>Q4 EBITDA&#x2A; is expected to be in the range of $5 million to $7 million</li>
</ul>

Guidance

CTRN

Citi Trends Expects Q4 Comparable Store Sales Of Up Low To Mid-Single Digits With Total Sales Down Mid-Single Digits

Initial 2025 Financial Guidance
In addition, Mirion will provide initial 2025 financial guidance, including:
<ul>
<li>Organic revenue growth of approximately 5.5% - 7.5%; includes an approximately 30 basis point lasers business divestiture headwind from 2024</li>
<li>Revenue growth of approximately 4.0% - 6.0%; includes a foreign exchange rate headwind of approximately 150 basis points</li>
<li>Adjusted EBITDA and adjusted EBITDA margin of approximately $215 million - $230 million and 24.5% - 25.5%, respectively; includes a foreign exchange rate headwind to adjusted EBITDA of approximately $3.5 million</li>
<li>Adjusted Free Cash Flow of approximately $85 million - $110 million; adjusted Free Cash Flow Conversion of approximately 39% - 48% of Adjusted EBITDA</li>
<li>Assumes a 1.05 Euro-to-USD foreign exchange rate</li>
</ul>

Mirion 2025 Outlook: Expects Organic Revenue Growth Of 5.5%-7.5%, Revenue Growth Of 4%-6%; And Adjusted Free Cash Flow Of $85M- $110M

Canaccord Genuity analyst Susan Anderson maintains Ulta Beauty (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) with a Buy and raises the price target from $442 to $476.

Price Target

Analyst Ratings

ULTA

Canaccord Genuity Maintains Buy on Ulta Beauty, Raises Price Target to $476

SPIR

Spire Global Names Theresa Condor As New CEO; Founder Peter Platzer Transitions To Executive Chairman

Earnings

Citi Trends Q3 Adj EPS $(0.78) Misses $(0.75) Estimate

2024 Outlook For the full-year, AT&amp;T expects:
<ul>
<li>Wireless service revenue growth in the 3% range.</li>
<li>Broadband revenue growth of 7%+.</li>
<li>Adjusted EBITDA&#x2A; growth in the 3% range.</li>
<li>Capital investment&#x2A; at the high-end of the $21 to $22 billion range.</li>
<li>Free cash flow&#x2A; in the $17 to $18 billion range, tracking toward the midpoint of this range; excluding approximately $2.5 billion of after-tax cash payments from DIRECTV, free cash flow in the $15 billion range.</li>
<li>Adjusted EPS&#x2A; of $2.20 to $2.25, reflecting an increase from the previously provided $2.15 to $2.25 range. This includes an expected adjusted equity in net income from DIRECTV of approximately $0.30 per share post-tax. When excluding this, the Company expects adjusted EPS in the $1.90 to $1.95 range.</li>
</ul>

AT&T Updates 2024 Guidance: Sees Adjusted EPS Of $2.20-$2.25 (Prior $2.15-$2.25) Vs. $2.10 Est.; Expects Wireless Service Revenue To Grow 3% And Broadband 7%+

Citi Trends Q3 Sales $179.07M Beat $178.48M Estimate

Biotech

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Health Care

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The FDA Has Granted Breakthrough Therapy Designation To Merck's Sacituzumab Tirumotecan For Advanced Or Metastatic Nonsquamous Non-small Cell Lung Cancer With Epidermal Growth Factor Receptor Mutations Whose Disease Progressed On Or After Tyrosine Kinase Inhibitor And Platinum-based Chemotherapy

Live Nation Entertainment, Inc. (NYSE:&nbsp;LYV) (the "company") today announced that it intends to offer, subject to market and other conditions, $1.0 billion in aggregate principal amount of convertible senior notes due 2030 (the "Convertible Notes").&nbsp; The company intends to use the net proceeds from the Convertible Notes offering (i) to finance the repurchase of a portion of its 2.00% convertible senior notes due 2025 (the "existing convertible notes") in one or more separate and individually negotiated transactions with a limited number of current holders of the existing convertible notes, (ii) to repay outstanding amounts under the company's existing revolving credit facility, (iii) to pay related fees and expenses and (iv) for general corporate purposes, which may include the repayment or repurchase of certain of its outstanding indebtedness.
 &nbsp;

Offerings

Live Nation Entertainment Launched $1B Convertible Senior Notes Offering Due 2030 For Debt Repayment

Contracts

SHIM

CORRECTION: Shimmick Construction Announced Monday It Has Been Awarded A $45.4M Contract To Complete Extensive Seismic Retrofitting And Improvements To The Murray Street Bridge At The Santa Cruz Small Craft Harbor

Needham analyst Quinn Bolton maintains Credo Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRDO#NASDAQ">CRDO</a>) with a Buy and raises the price target from $43 to $70.

CRDO

Needham Maintains Buy on Credo Technology Group, Raises Price Target to $70

CLICK will collaborate with Care U Professional Nursing Service Limited, being the first non-NGOs private company to become a licensed recognized service provider under the CCSV scheme, to provide integrated Home-based service for elderly under scheme in Hong Kong&nbsp;
- The CCSV scheme is a government-sponsored program that provides community care services through a "money-following-the-user" and "affordable users pay" subsidy model.

CLIK

CLICK Expands Elderly Care Services Through Hong Kong's CCSV Scheme In Partnership With Care U

Needham analyst Quinn Bolton reiterates Microchip Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHP#NASDAQ">MCHP</a>) with a Buy and maintains $85 price target.

Reiteration

MCHP

Needham Reiterates Buy on Microchip Technology, Maintains $85 Price Target

Norway has stopped its deep-sea mining plans due to political pressure. Environmentalists focus on Japan's aspirations as the International Seabed Authority (ISA) develops sea mining regulations.
What happened? Norwegian government conceded to demands from the Socialist Left Party in exchange for their support for the annual budget. This pause halted what would have been the country's first deep-sea mining licensing round, initially planned for 2025.
The political compromise reflects growing global opposition to deep-sea mining. Ecological risks and insufficient research into long-term consequences support the cautious approach despite the allure of critical mineral exploitation.
Activists, scientists, and fishing communities hailed the halt as a landmark victory for ocean protection. "After extensive work by environmentalists and scientists, we've secured a historic win for the oceans," <a target="_blank" href="https://www.greenpeace.org/sweden/pressmeddelanden/hav/deep-sea-mining-plans-stopped-in-norway/" rel="noreferrer noopener">stated</a> Haldis Tjeldflaat Helle from Greenpeace Nordic.
Following the announcement, Norwegian deep-sea mining startup Green Minerals lost over 30% of its market cap. Despite the setback, the company maintains optimism, projecting that licensing might resume in 2026. Meanwhile, the government continues preparatory work, including environmental impact assessments and regulatory groundwork, keeping the possibility of future mining operations open as the situation could change after the next parliamentary elections scheduled for September 2025.
Why it matters? Norway's decision aligns with international scrutiny of deep-sea mining led by the ISA. Under the leadership of Brazilian environmentalist Leticia Carvalho, appointed in July, the ISA is formulating <a target="_blank" href="https://www.benzinga.com/government/24/08/40163564/deep-sea-mining-hits-breaks-as-carvalho-takes-isa-leadership" rel="noreferrer noopener">global regulations for seabed mining</a>. Advocates argue these regulations are essential to balance the demand for critical minerals and environmental protection.
Meanwhile, Japan's <a target="_blank" href="https://www.benzinga.com/markets/asia/24/06/39508095/japan-discovers-200-million-tons-of-rare-earth-metals-near-remote-island-expects-mining-to-begin-202" rel="noreferrer noopener">discovery of manganese nodules</a>, valued at over $26 billion, shows the stakes involved – particularly for an island nation heavily relying on mineral resources imports. These nodules are rich in minerals critical for EV batteries but rest 5,700 meters below sea level.
However, research led by Travis Washburn revealed <a target="_blank" href="https://e360.yale.edu/digest/deep-sea-mining-fish-shrimp-study" rel="noreferrer noopener">alarming environmental consequences</a>: a 43% drop in fish and shrimp populations following small-scale mining tests. "The impact of deep-sea mining could be bigger than anticipated," Washburn cautioned.
If deep-sea mining proceeds, it must be under strict regulations that preserve ocean biodiversity—particularly after discovering that these minerals might play a role in oxygen production.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42278413/beyond-the-cbd-bubble-can-hemp-fiber-boost-us-manufacturing-with-eco-friendly-products" target="_blank" rel="noreferrer noopener">Beyond The CBD Bubble: Can Hemp Fiber Boost US Manufacturing With Eco-Friendly Products?</a></li>
</ul>
Photo by Sergey Novikov via Shutterstock

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ENOR

NORW

Politics Halt Norwegian Deep-Sea Mining, Environmentalists Look Toward Japan

Wells Fargo analyst Nathan Treybeck reinstates Integer Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITGR#NYSE">ITGR</a>) with a Overweight and announces $160 price target.

Initiation

ITGR

Wells Fargo Reinstates Overweight on Integer Holdings, Announces $160 Price Target

Roth MKM analyst Craig Irwin on Monday raised Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) price target by 347% from $85 to $380 and upgraded the rating to a &#8220;buy&#8221; from &#8220;neutral.&#8221;
What Happened: A long-time Tesla bear, Irwin turned bullish on Tesla on Monday. 
Talking about his change in opinion in an appearance on CNBC, Irwin noted the benefits that Tesla might reap out of its CEO&#8217;s new association and support for President-elect Donald Trump.
&#8220;This quarter is probably the last quarter of relative weakness; Now he (Elon) has got a new pool of buyers. Conservatives that might not have looked at EVs quite as closely in the past that allow an acceleration of demand in the core U.S. market,&#8221; said Irwin.
&#8220;I don&#8217;t see very many negative catalysts&#8230; There are abundant positive catalysts&#8230; Bias is now to the upside, not the downside. The market cap may be huge&#8230; but they are doing big things.&#8221;
Other EV brands that relied on EV subsidies will face a &#8220;sunset&#8221; under Trump given reports that he is planning to<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42005034/elon-musk-backs-calls-for-end-to-ev-subsidies-but-former-tesla-exec-warns-of-massive-drop-in-manufacturing-investments-if-trump-follows-through"> reduce or remove EV-related subsidies</a>, he noted, in a positive push for Tesla.
Irwin is also optimistic about the contribution of the Cybercab to the Tesla stock&#8217;s value for investors. &#8220;We&#8217;re going to see incremental progress and people are going to be able to have a tangible experience, and that&#8217;s what I think drives value in the stock and drives enthusiasm to own the stock.&#8221;
Why It Matters: Tesla shares rallied following Trump&#8217;s win in the Presidential elections. 
Musk actively campaigned for Trump in the swing state of Pennsylvania and the President-elect named the billionaire to lead the Department of Government Efficiency aimed at bringing down government bureaucracy, slashing excess regulations, cutting waste expenditures, and restructuring federal agencies.
The newly-forged relationship has caused investors to be positive about the way forward for Tesla with hopes of easing restrictions on the development of technology aimed at vehicle autonomy and removal of EV-related subsidies that may harm rival smaller players in favor of Tesla.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="This is Tesla&#039;s last quarter of relative weakness, says Roth Capital&#039;s Craig Irwin" width="500" height="281" src="https://www.youtube.com/embed/CulW18iYS4k?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Price Action: Tesla shares closed up 3.5% at $357.09 on Monday. The stock is up 44% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
The Tesla stock has a consensus rating of &#8220;Buy.&#8221; The average price target of $339 based three most recent ratings from Roth MKM, Stifel, and UBS implies a 5% downside.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42259569/chinese-ev-behemoth-and-tesla-rival-byd-marks-68-growth-in-november-sales-on-rising-popularity-of-plug-in-hybrid-evs" target="_blank" rel="noreferrer noopener">Tesla Rival BYD Marks 68% Growth In November Sales Driven By Popularity Of Plug-In Hybrid EVs</a></li>
</ul>
Photo courtesy: Shutterstock

Analyst Color

Equities

Upgrades

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Tesla Bear Craig Irwin Turns Bullish On EV Giant, Increases Price Target By 347%: 'There Are Abundant Positive Catalysts'

Deutsche Bank analyst Lee Horowitz initiates coverage on Maplebear (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) with a Hold rating and announces Price Target of $37.

CART

Deutsche Bank Initiates Coverage On Maplebear with Hold Rating, Announces Price Target of $37

MTDR

Matador Resources Expands Credit Facility To $3.25B, San Mateo Adds Six New Lenders

HC Wainwright &amp; Co. analyst Yi Chen reiterates Ocular Therapeutix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUL#NASDAQ">OCUL</a>) with a Buy and maintains $15 price target.

OCUL

HC Wainwright & Co. Reiterates Buy on Ocular Therapeutix, Maintains $15 Price Target

Wells Fargo analyst Nathan Treybeck reinstates Nevro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVRO#NYSE">NVRO</a>) with a Equal-Weight and announces $5 price target.

NVRO

Wells Fargo Reinstates Equal-Weight on Nevro, Announces $5 Price Target

From Growth To Value: Building A Portfolio With Brett Ashcroft Green

Warning: BAIDF is at high risk of performing badly

The Big Short's Michael Burry: Betting On China With Baidu And Others

Baidu Non-GAAP EPADS of $2.37 misses by $0.10, revenue of $4.78B beats by $140M

Baidu, Inc. (BIDU) Q3 2024 Earnings Call Transcript

Baidu Q3 2024 Review: The Good, The Bad, And The Ugly

Baidu Q3 Earnings: AI Revenue Remains Strong; 22% Below Its Book Value Is A Contrarian Buy (Upgrade)

iQIYI: Deeply Undervalued Gem With A Perceived Tailwind In C-Drama

Baidu receives license to test autonomous vehicles in Hong Kong

Tesla's Self-Driving Narrative Is Falling Apart

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Baidu

The Jiyue 01, an electric vehicle resulting from the collaboration between Zhejiang Geely Holding Group Co. and Baidu Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), was launched on Friday, underscoring the expansion and intensifying competition within the world&#8217;s largest automobile market for EVs.



What Happened: The Jiyue 01, the inaugural EV from the Geely and Baidu JV brand JiYue, is a five-seater SUV that starts at 249,900 yuan, <a href="https://cnevpost.com/2023/10/28/baidu-jiyue-launches-1st-ev-model-jiyue-01/">reported</a> CnEVPost. It comes in two versions — Max and Max Performance. 



The pricing of the new vehicle is below Tesla&#8217;s starting price of 263,900 yuan. Further, taking a different route from most cars that rely on high-precision maps for driver assistance, Jiyue 01 is adopting a pure vision system, a strategy also employed by Tesla. However, Tesla&#8217;s full self-driving (FSD) software is currently inaccessible in the country, paving the for players like XPeng and Jiyue to fill the market gap. 



FSD rival?: The brand names its intelligent driving feature ROBO Drive Max. The feature will offer point to point navigation assistance and AVP autonomous valet parking functionality on 90% of China&#8217;s highways and in three urban cities — Hangzhou, Beijing and Shanghai. It will expand to 200 plus cities by 2024 and will be available on a monthly subscription basis. 



ROBO Drive also includes many standard intelligent driving functions, such as lane keeping, autonomous parking assist, collision warning, lane departure warning, intelligent cruise control, lane changing and parking spot finding, the company said in a statement. 



Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.



Read Next:<a href="https://www.benzinga.com/news/23/10/35477069/tesla-to-pick-select-shareholders-for-cybertruck-delivery-event-via-lottery-details-inside"> Tesla To Pick Select Shareholders For Cybertruck Delivery Event Via Lottery: Details Inside</a>



Photo by Quality Stock Arts on Shutterstock




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Geely And Baidu's Joint Venture Unveils Jiyue 01 EV, Priced Competitively Below Tesla Model Y

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Saturday, October 28, 2023

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