Baidu’s most recent trend suggests a bearish bias. One trading opportunity on Baidu is a Bear Call Spread using a strike $123.00 short call and a strike $128.00 long call offers a potential 44.51% return on risk over the next 16 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $123.00 by expiration. The full premium credit of $1.54 would be kept by the premium seller. The risk of $3.46 would be incurred if the stock rose above the $128.00 long call strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Baidu is bearish and the probability of a decline in share price is higher if the stock starts trending.
The 20-day moving average is moving down which suggests that the medium-term momentum for Baidu is bearish.
The RSI indicator is at 60.31 level which suggests that the stock is neither overbought nor oversold at this time.
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LATEST NEWS for Baidu
India Bans TikTok and 58 Other Chinese Apps Citing Security Concerns
Tue, 30 Jun 2020 08:43:58 +0000
(Bloomberg) — India banned ByteDance Ltd.’s viral short-video service TikTok and 58 other Chinese apps, citing threats to its sovereignty and security as relations between the world’s two largest populations worsened.The unprecedented moratorium, announced days after border tensions in the Himalayas left 20 Indian soldiers dead, deals a blow to the most prominent names in Chinese technology. The banned services included e-commerce giant Alibaba Group Holding Ltd.’s UC Web, social media leader Tencent Holdings Ltd.’s WeChat and Baidu Inc.’s map and translation platforms.The move marks another attempt by India to reduce dependence on its neighbor’s products and hampers efforts by China’s largest corporations to expand beyond their own borders — a collective endeavor encapsulated by TikTok’s phenomenal success abroad and particularly in India, ByteDance’s largest international market. The world’s most valuable startup responded by saying it will meet with Narendra Modi’s government to discuss the matter.“TikTok continues to comply with all data privacy and security requirements under Indian law and has not shared any information of our users in India with any foreign government, including the Chinese government,” said Nikhil Gandhi, the company’s local chief, in a tweet on its official account. “Further if we are requested to in the future we would not do so.”Click here for the Indian government’s statement and full list of banned Chinese appsIn an emailed statement, TikTok also said that its “team of around 2,000 employees in India is committed to working with the government to demonstrate our dedication to user security and our commitment to the country overall.”The ban threatens to ramp up tensions between two of Asia’s largest economies. As the border standoff that had simmered for nearly two months worsened, customs officials began halting clearances of industrial consignments coming in from China at major Indian ports and airports. The ban announced Monday also includes smartphone maker Xiaomi Corp.’s Mi Video Call and Weibo, a Chinese Twitter-like service.The unauthorized transmission and storage of Indian users’ data in overseas servers and “its mining and profiling by elements hostile to national security and defense of India” is a matter of deep and immediate concern requiring the emergency measures, the Ministry of Electronics and Information Technology said in a statement on Monday. Representatives for Alibaba, Tencent and Baidu didn’t have immediate comment when contacted.“China is strongly concerned about the relevant notice issued by the Indian side. We are checking on and verifying the situation,” Ministry of Foreign Affairs spokesman Zhao Lijian told reporters at a briefing in Beijing Tuesday. “We want to stress the Chinese government always asks Chinese businesses to abide by international rules and local laws and regulations in their business cooperation with foreign countries. The Indian government has a responsibility to uphold the legitimate and legal rights of the international investors including Chinese ones.”Still, it’s unclear how the ban will be implemented as most of these apps already reside on users’ phones. The government might need to block the app servers and prevent new users from downloading them. One in three smartphone users in India will be impacted by this ban, Tarun Pathak, associate director with Counterpoint Technology, told BloombergQuint.Meanwhile, the government’s decision to bar the apps began garnering support on social media.“It’s time to take some hard decisions to get out of China’s cyber clutches,” Nirmal Jain, chairman at financial services conglomerate IIFL Group, tweeted.While banning other Chinese-made products and hardware is challenging in Asia’s third-largest economy, the blockade of a wide swath of Chinese apps ranging from gaming and news content to music streaming and online retail is particularly significant.India, with its half-billion internet users, is an emerging arena for global technology companies from the U.S. to China. As hundreds of millions of first-time users come online in India, they do so on Chinese smartphones. Myriad Chinese apps are their doorway to the internet.For ByteDance, which counts India as its biggest market with over 200 million TikTok users, the move is a particular blow. ByteDance faced a brief ban in India last year, and is being scrutinized in Europe. It also faces mounting questions from U.S. policy-makers over whether it jeopardizes national security.“Some of these Chinese apps are not just for commerce but have deeply entrenched into the social fabric of our lives,” said Anil Kumar, chief executive officer of technology researcher RedSeer Consulting. “They know what you do, what you say, where you go. In the current context, they can be viewed as a threat to our national security.”(Updates with comment from China’s Ministry of Foreign Affairs in the eighth paragraph. A previous version of the story was corrected to remove reference to Clash of Kings.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
India Bans 59 Apps, Including TikTok and WeChat, Citing Security
Tue, 30 Jun 2020 01:05:10 +0000
(Bloomberg) — India’s Ministry of Technology banned 59 apps, including TikTok and WeChat, saying the software threatens the country’s security and sovereignty, as well as citizens’ privacy.India, one of the largest and fastest growing digital markets, said it received complaints that some mobile apps on Google’s Android and Apple Inc.’s iOS platforms are “stealing and surreptitiously transmitting users’ data in an unauthorized manner to servers which have locations outside India.”In addition to ByteDance Ltd.’s TikTok video app and Tencent’s WeChat service, the Indian tech agency listed several other Chinese apps, including offerings from Baidu Inc. and Weibo Corp.“The compilation of these data, its mining and profiling by elements hostile to national security and defense of India, which ultimately impinges upon the sovereignty and integrity of India, is a matter of very deep and immediate concern which requires emergency measures,” the Ministry of Technology said in a statement Monday.TikTok said it is committed to working with India to resolve the concerns.“While the Government of India has issued an interim order to block 59 apps, our team of around 2,000 employees in India is committed to working with the government to demonstrate our dedication to user security and our commitment to the country overall,” TikTok said in a statement. For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Baidu Inc. (BIDU) Stock Sinks As Market Gains: What You Should Know
Mon, 29 Jun 2020 21:50:09 +0000
In the latest trading session, Baidu Inc. (BIDU) closed at $121.29, marking a -0.42% move from the previous day.
Driverless Car Race Heats Up Amid Coronavirus: Stocks in Focus
Mon, 29 Jun 2020 12:50:12 +0000
Autonomous driving gains steam owing to breakthroughs in technology, with the integration of robust AI and ML capabilities in advanced driver-assistance systems.
Baidu-backed Chinese online tutor Zuoyebang raises US$750 million from Tiger Global and Fountainvest
Mon, 29 Jun 2020 09:30:00 +0000
Children hoping that school closures meant a break from homework were sadly disappointed as teachers took to online education during coronavirus-induced lockdowns.Next week, 10.71 million Chinese students will sit the gaokao, a notoriously gruelling university-entrance exam that can play a decisive role in shaping their future. Many of these pupils have been preparing online by logging on to tutorial platform such as Zuoyebang.Investors have been quick to catch on to the wave of digitisation in education during the coronavirus. They have flocked to back start-ups that promise to upgrade the conventional schoolroom using artificial intelligence and the internet.Zuoyebang, one of the largest in the field, has amassed US$750 million in a Series E fundraising from investors including New York-based Tiger Global and Chinese private equity fund Fountainvest Partners, it said on Monday on its social media WeChat page.Beijing-headquartered Zuoyebang’s fundraising is one of the largest among the 131 across the Chinese education sector so far this year, which have raised a total of US$1.11 billion. This value is on par with the same period a year earlier despite the difficulties of bringing investors and start-ups together during lockdowns, according to data collected by alternative assets tracker Preqin.Also known as zhibo.zuoyebang.com, which means “homework help” in Chinese, the start-up offers online courses to students from kindergarten to grade 12 by leveraging technology and the internet. Online education sector could be among biggest beneficiaries of Covid-19The start-up claims to have monthly active users of over 170 million, an all-time high, and the number of paying students has gone up by more than 10 times in the past two years to hit a record 12 million.Other investors in Zuoyebang’s latest fundraising included sovereign wealth fund Qatar Investment Authority, venture capital investor Sequoia Capital China, SoftBank’s Vision Fund 1 as well as Chinese investment firms Tiantu Capital and Xiang He Capital.Competition is heating up in the sector. New Oriental Education & Technology and TAL Education Group have already listed in the US and are mulling a secondary listing in Hong Kong, according to people familiar with the matter.Founded by Hou Jianbin in 2014, Zuoyebang was spun out of Baidu a year later and is already a unicorn, a private company valued at over US$1 billion. A spokeswoman confirmed that Baidu is still a shareholder in the company.Zuoyebang started as a platform where students could upload their homework onto the platform and search for answers. It has since developed live-streaming courses.Zuoyebang’s last fundraising was in 2018 when it corralled US$350 million, and it raised US$150 million in a Series C round in 2017. A spokeswoman said the company had no plans to IPO at this point in time.China’s Taihecap gave financial advice on the transaction.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP’s Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.
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