Deals
Baidu Drops in New York on Slowing Sales Growth Forecast
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Baidu Inc., owner of China’s dominant Internet search engine, tumbled in after-market trading in New York after forecasting its second-quarter sales may grow at the slowest pace in more than two years.
American depositary receipts of the Beijing-based company slid 9.3 percent to $123.26 by 7:59 p.m. yesterday in New York, after slumping to $121.11 earlier, data compiled by Bloomberg show. The stock fell 2.7 percent to $135.83 during normal trading hours.