Baidu and Dangdang Weighed Down by Slowing Chinese Economy
The Bedford Report Provides Equity Research on Baidu & Dangdang
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 10/24/11 -- Chinese internet stocks have struggled this month as reports of a slowing Chinese economy has led to growth concerns for tech companies. China's internet population was growing at a rate of six million per month according to research conducted by the consultancy McKinsey&Co earlier this year. The Bedford Report examines the outlook for companies in China's Internet Sector and provides stock research on Baidu, Inc. (NASDAQ: BIDU) and E-Commerce China Dangdang Inc. (NYSE: DANG). Access to the full company reports can be found at:
China's third-quarter gross domestic product was up 9.1% from a year earlier, slowing from 9.5% growth in the second quarter and 9.7% growth in the first, China's National Bureau of Statistics said last week. Growth fell short of the median 9.2% forecast of 14 economists surveyed by Dow Jones Newswires.
"If the GDP growth reading was 9.2% or 9.3%, the market may think it's acceptable, but 9.1% looks worrisome, especially compared to the second quarter's 9.5%," said Qian Qimin, an analyst at brokerage Shenyin Wanguo.
The Bedford Report releases investment research on the Chinese Internet Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.
According to Chinese media, Baidu has established a wholly owned subsidiary focused on online job search. The service was officially introduced in August on an independent domain name. The company has previously used sub-domains rencai.baidu.com and job.baidu.com for its Baidu Talent service.
Dangdang launched its mobile application for iPhone in the second quarter of 2011. Together with the previously launched application for Android mobile, these mobile applications bring Dangdang thousands of orders on a daily basis.
The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at
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Datum: 24.10.2011 - 06:16 Uhr
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