DJT, BIDU among major communication services gainers; AMC, BRAG among losers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2024
0mins
Should l Buy BIDU?
- Gainers: Phoenix New Media (FENG) up by 13%, Trump Media & Technology Group (DJT) up by 12%, Kuke Music Holding (KUKE) up by 10%, Baidu (BIDU) up by 6%.
- Losers: AMC Entertainment Holdings (AMC) down by 12%, MoneyHero (MNY) down by 12%, Cheetah Mobile (CMCM) down by 7%, Bragg Gaming Group (BRAG) down by 7%, Direct Digital Holdings (DRCT) down by 7%.
- S&P 500 Communication Services sector is down 2.1% at $281.95, Telecommunication Services is up 1.6% at $102.17, Media & Entertainment down 2.5%.
- More insights on Communication Services Select Sector SPDR Fund including potential upside and earnings scorecard.
- Energy, tech, and communications are among the top-rated S&P 500 sectors as Q1 earnings season begins, with Seeking Alpha's Quant Rating on Communication Services Select Sector SPDR Fund.
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Analyst Views on BIDU
Wall Street analysts forecast BIDU stock price to rise
13 Analyst Rating
11 Buy
2 Hold
0 Sell
Strong Buy
Current: 137.110
Low
140.00
Averages
170.39
High
215.00
Current: 137.110
Low
140.00
Averages
170.39
High
215.00
About BIDU
Baidu Inc is a Chinese language Internet search provider. The Company operates its businesses through two segments, Baidu Core segment and iQIYI segment. Baidu Core segment mainly provides search-based, feed-based, and other online marketing services, as well as products and services from the Company’s new artificial intelligence (AI) initiatives, such as display advertisement and based on performance criteria other than cost-per-click, cloud services, smart devices and services, non-marketing consumer-facing services such as membership, and intelligent driving. iQIYI segment produces, aggregates and distributes a wide variety of professionally produced content, as well as a broad spectrum of other video content, in a variety of formats, including a variety of products and services encompassing online video, online games, online literature, comics and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Verdict Upheld: A federal judge in Miami has refused to overturn a $243 million jury verdict against Tesla, asserting that the evidence presented at trial sufficiently supports the jury's decision, highlighting Tesla's legal accountability regarding its Autopilot system.
- Accident Details: The fatal 2019 crash in Florida involved a Tesla owner using Enhanced Autopilot, who mistakenly believed the system would brake, resulting in the vehicle accelerating over 60 mph and colliding with a parked car, leading to one death and severe injuries.
- Legal Controversy: Plaintiff attorneys argued that the design of Autopilot and Tesla's representations about its capabilities directly contributed to the accident, while Tesla's legal team sought to significantly reduce compensatory damages and limit punitive damages under Florida law.
- Market Reaction: Tesla shares fell 0.14% in after-hours trading, indicating market concerns over its Autopilot technology, despite a stronger long-term price trend, as short and medium-term trends remain negative.
See More
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- Position Change: HHLR Advisors fully divested its 1.64 million shares of Baidu in Q4 2026, with an estimated transaction value of $216.23 million, indicating a significant reduction in confidence towards Baidu, leading to a drop in the stake's valuation at quarter-end.
- Asset Management Impact: This sale reduced Baidu's representation in HHLR Advisors' assets from 5.3% to 0%, reflecting a reassessment of the company's future performance, which could influence market sentiment towards Baidu.
- Market Performance: As of February 17, 2026, Baidu's stock price stood at $137.33, up 52.3% over the past year, outperforming the S&P 500 by 29 percentage points; however, HHLR's exit may exert downward pressure on the stock in the short term.
- Future Outlook: Despite significant investments in AI and cloud services, Baidu's revenue remains heavily reliant on advertising, prompting investors to monitor whether the company can stabilize its ad revenue while successfully commercializing AI to ensure future growth.
See More
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- Ruling Upheld: Federal Judge Beth Bloom in Miami denied Tesla's request to overturn a $243 million jury verdict, stating that the evidence presented at trial sufficiently supported the jury's decision, highlighting Tesla's liability in the 2019 fatal Autopilot crash.
- Accident Details: The incident occurred in Key Largo, Florida, resulting in the death of 22-year-old Naibel Benavides and severe injuries to her boyfriend Dillon Angulo, as Tesla owner George McGee lost control of his vehicle while using Enhanced Autopilot, accelerating through an intersection at over 60 miles per hour.
- Legal Consequences: The jury found Tesla partially responsible for the crash last year, and despite Tesla's attempts to appeal the verdict or seek a new trial, the judge ruled there was no sufficient basis for such actions, increasing Tesla's legal exposure.
- Market Impact: This ruling poses a challenge to Tesla's competitiveness in the autonomous driving market, particularly as it lags behind competitors like Alphabet's Waymo and Baidu's Apollo Go in offering commercial ride-hailing services, potentially affecting investor confidence.
See More
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- Ruling Upheld: A federal judge in Miami denied Tesla's bid to overturn a $243 million verdict, mandating compensation for a 2019 fatal Autopilot crash, highlighting the court's emphasis on the safety of autonomous driving technologies.
- Accident Details: The incident occurred in Florida when the Tesla owner lost control while using Enhanced Autopilot to retrieve a dropped phone, resulting in the death of 22-year-old Naibel Benavides and severe injuries to her boyfriend, illustrating the inherent risks associated with automated driving systems.
- Legal Consequences: The jury found Tesla partially liable last year, and Judge Bloom stated that the evidence supported this verdict, with Tesla's appeal failing to present sufficient grounds for a new trial, indicating ongoing legal challenges for the company.
- Market Impact: This ruling places additional pressure on Tesla's competitiveness in the autonomous driving market, particularly against rivals like Waymo and Apollo Go, potentially affecting investor confidence and future strategic directions.
See More
