Baidu CEO tells staff to put values before profit after cancer death scandal
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Oppenheimer Cuts Price Target on Baidu.com (BIDU) Following Investigation Results Announced by CAC
May 10, 2016 10:16 AM EDTOppenheimer maintained an Outperform rating on Baidu.com (NASDAQ: BIDU), and cut the price target to $225.00 (from $240.00), following an investigation into the company's recent wrongdoing in healthcare advertising. The results were announced by the Cyberspace Administrative of China (CAC) on Monday.
Analyst Jason... More
Baidu.com (BIDU) Will Take Measures to Appease PRC Regulators; Sets RMB 1B Aside for Compensation
May 10, 2016 8:46 AM EDTBaidu, Inc. (NASDAQ: BIDU) reports on an examination of its search ranking practices by PRC regulators that followed news reports and critical public comments regarding those practices.
On or around April 30, 2016, Chinese media reported that Zexi Wei, a Chinese college student, had died from cancer following unsuccessful experimental immunotherapy treatment received at a hospital. The media and internet commentaries also reported that Zexi Wei had learned of the hospital and treatment program when a paid listing for it appeared on the first page of Baidu's search results.
Following these... More
