Baidu (BIDU) Dips, SINA (SINA) Moves Higher as Facebook Still Has No Deals in China - Reuters
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Shares of Baidu (Nasdaq: BIDU) have fallen from session highs over the last hour of trading following a Reuters report which suggests Facebook has not signed an agreement with any Chinese company.
Baidu shares rallied as much as 5 percent Monday amid Facebook-related rumors, but are now up just 1.8 percent to $144.38.
SINA (Nasdaq: SINA) shares, consequently, pushed to fresh intraday highs following the headlines from Reuters. SINA stock jumped more than 2 percent as the rumors hit wires, but it has since given back most of the gains. Shares of SINA last traded at $116.01, down 2.8 percent from Friday's closing price.
Baidu shares rallied as much as 5 percent Monday amid Facebook-related rumors, but are now up just 1.8 percent to $144.38.
SINA (Nasdaq: SINA) shares, consequently, pushed to fresh intraday highs following the headlines from Reuters. SINA stock jumped more than 2 percent as the rumors hit wires, but it has since given back most of the gains. Shares of SINA last traded at $116.01, down 2.8 percent from Friday's closing price.
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