Baidu Inc. (NASDAQ:BIDU) reported on Monday that it would invest almost 10 billion yuan ($1.6 billion) in a cloud computing center.
Further details were not revealed by Baidu (BIDU) like as where the center would be placed and how it was going to finance the center.
China’s leading search engine by sales has been striving hard to grow its hold of the swiftly enhancing mobile Internet market, and cloud computing or remote online data storage, has been a cruicial part of that plan.
Its competitors include SINA Corp (NASDAQ:SINA) that slipped -0.71% to $56.10 with the total traded volume of 1.64 million shares and Sohu.com Inc. (NASDAQ:SOHU) that dropped -0.31% to $39.17 with the total traded volume of 496,018.00 shares.
Other technology stocks with bullish trend include Splunk Inc (NASDAQ:SPLK) up 12.79% to $34.40, TeleCommunication Systems, Inc. (NASDAQ:TSYS) up 8.64% to $1.76 and Turkcell Iletisim Hizmetleri A.S. (ADR) (NYSE:TKC) up 6.17% to $14.80, whereas with bearish trend include Facebook Inc (NASDAQ:FB) down -5.40% to $18.06, Zynga Inc (NASDAQ:ZNGA) down -3.11% to $2.80 and Frontier Communications Corp (NASDAQ:FTR) down -2.53% to $4.62.
Baidu.com, Inc. (ADR) (NASDAQ:BIDU) after opening at $113.67 hit high price of $113.70 and then closed at $111.44 by plunging -0.51% and on last session volume of 4.95 million shares was lower than its average volume of 5.76 million shares.
The stock price volatility was 3.16% for a week and 3.21% for a month as well as price volatility’s Average True Range for 14 days was 4.33 and its beta remained 1.87.
The liquidity measure in recent quarter results of the company was recorded 4.69 as current ratio and on the other side the debt to equity ratio was 0.12 and long-term debt to equity ratio also remained 0.11. The Company had total cash at hand $2.88 billion and a book value per share as $9.02 in the most recent quarter.
BIDU generated revenue of 2.89 billion in the following twelve months and earned $1.35 billion. The Company showed a positive 46.45% in the net profit margin and as well as in its operating margin which remained 51.33%. Company’s annual sales growth for the past five year was 76.87%.
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