Pursuits
Baidu Climbs After Approving $1 Billion Share Buyback Plan
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Baidu Inc. rose the most in two weeks after the Chinese search-engine company said it plans to buy back as much as $1 billion of stock.
The American depositary receipts rallied 2.6 percent to $174.40 at 10:21 a.m. in New York. The stock plunged 15 percent on Tuesday after Baidu posted earnings and forecast sales that missed analysts’ estimates amid higher costs and a slowing Chinese economy.