4 Tech Stock Stories Ready for a Friday Scanning
Baidu Inc. (NASDAQ:BIDU): Closing price $135.67
In a research note on Friday, analyst Juan Linv at Wedge Partners wrote that Baidu’s entrance into mobile gaming via its purchase of app store 91 Wireless places it in a good spot as mobile Internet usage rises. Baidu, along with the China online travel major Ctrip.com International, could derive benefits from near-term improvements in China’s economy and growing mobile use, according to Linv, who believes that both mobile ad and app sales will help those firms. Last month, Baidu in completed its plans to purchase 91 Wireless a at price of $1.85 billion.