Baidu.com Inc.
(BIDU) opened at 296.23. So far today, the stock has hit a low of 289.01 and a high of 297.42. BIDU is now trading at 294.23, down 8.67 (-2.93%). The stock hit its 52 week high of 429.19 in November and set its 52 week low of 161.00 in August. BIDU has been trading lower since the month of November of last year. Baidu.com shares have been declining today after competitor Google Inc.
(GOOG) posted second-quarter earnings that missed analysts' expectations, blaming economic turmoil in the United States and parts of Europe. Technical indicators for the stock are bearish and steady while S&P gives BIDU a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an August bear-call credit spread above the $420 range. BIDU stock could rise up to 42.7% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]