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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Coronavirus dashboard

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  1. Global: Total confirmed cases as of 1:30 a.m. ET: 5,695,155 — Total deaths: 355,688 — Total recoveries — 2,351,177 — Map.
  2. U.S.: Total confirmed cases as of 1:30 a.m. ET: 1,699,933 — Total deaths: 100,442 — Total recoveries: 391,508 — Total tested: 15,192,481 — Map.
  3. Public health: CDC issues guidelines for reopening offices — Fauci says data is "really quite evident" against hydroxychloroquine.
  4. States: California hospitals strained by patients in Mexico — Texas Supreme Court blocks mail-in expansion to state voters.
  5. Business: MGM plans to reopen major Las Vegas resorts in June — African American business owners have seen less relief from PPP, Goldman Sachs says.
  6. Tech: AI will help in the pandemic — but it might not be in time for this one.
  7. World: EU proposes a massive pandemic rescue package.
  8. 1 🎶 thing: Local music venues get rocked by coronavirus.
  9. 🎧 Podcast: Trump vs. Twitter ... vs. Trump.
  10. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagious — Masks, lending books and self-isolating — Exercise, laundry, what counts as soap — Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — How to minimize your risk.
  11. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Minneapolis unrest as hundreds protest death of George Floyd

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Minneapolis police clashed for a second night with protesters demonstrating the death of George Floyd, an African American man who died in police custody.

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