Pursuits
Baidu Slides Most Since 2008 After Sales Outlook Falls Short
Baidu Shares Fall After Earnings Miss Estimates
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Baidu Inc. slumped the most since 2008 after China’s largest search engine company projected sales for this quarter that trailed analysts’ estimates amid a weakening economy.
Baidu posted second-quarter earnings on Monday that also came in short, sending the U.S.-listed shares down 15 percent Tuesday, to close at $168.03, the lowest level since June 2014.