Oct 26, 2017

Baidu beats third-quarter forecasts but Wall Street wants more

Baidu shares are down more than 10% in after-hours trading today after the Chinese search-engine titan reported third-quarter earnings that were twice what analysts had projected, but said that the next quarter will fall short of expectations.

The company said that, in the fourth quarter, revenue will rise to $3.52 billion, short of the $3.76 billion that analysts have forecast, Reuters reports. In the third quarter, Baidu said its adjusted earnings were $3.89 a share, compared with analyst exceptions of $1.96.

Baidu is part of the Big Tech circle of global companies that are perceived to be building dominant positions in the technologies of the future, including artificial intelligence.

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Trump administration asks Congress for $2.5 billion to fight coronavirus

President Trump with Health and Human Services Secretary Alex Azar at the White House in September. Photo: Chip Somodevilla/Getty Images

The Trump administration sent a letter to Congress Monday requesting a funding commitment of at least $2.5 billion to help combat the spread of the novel coronavirus.

Details: The request for a lump sum account for the Department of Health and Human Services includes $1.25 billion in new funds to fight COVID-19 and $535 would come from untouched funds for the Ebola virus.

WHO won't call coronavirus a pandemic as cases spread

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The World Health Organization will not yet call the coronavirus a pandemic, claiming that needs across affected countries are too varied and the classification would increase fear, per a briefing Monday.

The big picture: As South Korea and Italy stepped up emergency measures in efforts to thwart the spread of the virus, WHO expressed concern about infections with no clear link to China. COVID-19 has killed at least 2,620 people and infected almost 80,000 others, with all but 27 deaths occurring in mainland China.

Go deeperArrowUpdated 4 hours ago - Health

The global scramble to contain the coronavirus

Taking precaution, in the Philippines. Photo: Ezra Acayan/Getty Images

The coronavirus is spreading quickly in cities nowhere near Wuhan, China, and the window to prevent a global pandemic is narrowing.

Zoom in: Here's a look at what comes with a coronavirus outbreak in communities outside China that have been hardest hit so far.

Go deeperArrow4 hours ago - World